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XAU/USD & XAG/USD - Gold & Silver Traders Thread

  • #18,681
  • May 4, 2012 3:40am May 4, 2012 3:40am
great charts. Been following this thread and a few others for about 5 months got some good tips off here only just opened account been trading for for awhile even though im only 21.

my price target has been 1600 for awhile now. although i feel as though we might revisit 1550 if so ill just re-load. I have a long in at 1600 what would you be looking for PA wise after it goes down around 1600 a close above what price to confirm support will hold?

cheers
  • #18,682
  • May 4, 2012 3:49am May 4, 2012 3:49am
Quoting pippaholic
great charts. Been following this thread and a few others for about 5 months got some good tips off here only just opened account been trading for for awhile even though im only 21.

my price target has been 1600 for awhile now. although i feel as though we might revisit 1550 if so ill just re-load. I have a long in at 1600 what would you be looking for PA wise after it goes down around 1600 a close above what price to confirm support will hold?

cheers
Thanks...although the trend seems to be down from the starting of this week creating lower highs and breaking lower lows...need to be very careful today during and after the Non Farm payroll data which can go either ways...
  • #18,683
  • May 4, 2012 3:54am May 4, 2012 3:54am
Quoting multi888
1630 was broken...as I'm writing this....
1630 had been broken...since then it fell to 4-5$...another alternative way of being secured to trade is- if the candle stays completely outside the triangle that can give a better indication as the triangle line can act as a resistance...Moreover NFP news can further determine the price action eitherways but more confirmation towards the downside..
  • #18,684
  • May 5, 2012 4:53am May 5, 2012 4:53am
Quoting beeb
Again. not wishing to be rude but if it isn't obvious to you where the chart is going, perhaps any correlation that once existed has broken down.......

beeb

EDIT - Or to put it another way there are two possible scenarios:

A - Your TA skills are sufficient to note that there is no correlation
B - Your TA skills are not sufficient to note that there is a correlation
like we say, paiseh! paiseh! ...please , no need to stand on ceremony ...we are all students ....

once again , thanks for ur valued and valuable reply


  • #18,685
  • May 5, 2012 11:06am May 5, 2012 11:06am
Quoting TheArcher
like we say, paiseh! paiseh! ...please , no need to stand on ceremony ...we are all students ....

once again , thanks for ur valued and valuable reply


lol. i thought who will use paiseh paiseh here. check ur country. u are from singapore. i am from malaysia btw.
  • #18,686
  • May 5, 2012 7:16pm May 5, 2012 7:16pm
Fundamentally I am not so sure about where tomorrow's elections can take gold. In case of bad news, will the USD go up and drag gold down? Or with the recent disappointing NFP, gold would take back over as the safe currency and go high?
  • #18,687
  • May 5, 2012 8:54pm May 5, 2012 8:54pm
Fed also is ending in June, or planning to anyway, Operation Twist - buying of long dated treasuries.

Which means less money added to the economy.

And which should mean, maybe who knows really , stronger dollar - weaker stock markets and weaker Gold.

Or not.

BTW today Saturday Cinco De Mayo, was a Super-Moon - full moon at the closest point (perigee) the moon is to the earth this year.
  • #18,688
  • May 5, 2012 11:45pm May 5, 2012 11:45pm
Is it time to go long?
Strong support window hold for 3 Weeks.
Confirmed by bullish harami last day.

Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 22 KB
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #18,689
  • May 6, 2012 4:53am May 6, 2012 4:53am
Don't forget that it will be a thin market on Monday with London on holiday and that there are the election results in France and Greece due....

beeb
  • #18,690
  • Edited 7:36am May 6, 2012 7:06am | Edited 7:36am
Quoting lilpip
will weekly lows support 29.78-90 area hold and kick rotation back up or continued trending ?
gold
eyes on thur. daily break retest 1642 and maybe even pa and candle formations between 1642-49.
.
29.78-90 area held which is first sign for going north, however trends been down next step is to get above 30.50-67 and 2nd continue trading on the north side of 31.18-28.
For what its worth, as we try to keep a pulse on the market when we looked on at the monthly chart during the last week of feb. for the up coming month of March, $37.22 was March projected highs which she achieved Feb. 29th.
For those that consider timeframes in 3's we have taken 2 months to the south with Mar. and April and now at May lows at 29.00-05, if theres a change of trend this is an area to be considered for support.
31.18-28
30.50-67
29.56-76
may monthly
36.57
32.81
29.00-05

Golds fri. retest of thur. daily break @ 1642 is noted.
eyes open to pa between 1645-49 pivot area this week as we continue the 1st quarter battle for direction between the primary and secondary trends 1600 and 1689.
weeky
1670
1645-49
1621
  • #18,691
  • May 6, 2012 4:15pm May 6, 2012 4:15pm
Quote
may monthly
36.57
32.81
29.00-05

This is encouraging !
  • #18,692
  • May 6, 2012 5:36pm May 6, 2012 5:36pm
EURUSD gapping down -1%. If it doesn't fill shortly (Tonight or at least Mon-Wed period) watch out!!
  • #18,693
  • May 6, 2012 10:46pm May 6, 2012 10:46pm
It's interesting candle in monthly chart.

time to LONG??

Comment please...

http://www.iconindo.com/foto/xaumonthly.jpg
Price Action
  • #18,694
  • May 7, 2012 7:58am May 7, 2012 7:58am
Quoting gotri
It's interesting candle in monthly chart.

time to LONG??

Comment please...

http://www.iconindo.com/foto/xaumonthly.jpg
Where would you be wrong? Where would you cut your longs?
I have no enemy; I make Incautiousness my Enemy.
  • #18,695
  • May 7, 2012 8:36am May 7, 2012 8:36am
Quoting jimobiwan
Where would you be wrong? Where would you cut your longs?
cut loss , when candle break trendline
i think it's low risk, high reward
Price Action
  • #18,696
  • May 7, 2012 10:01am May 7, 2012 10:01am
Quoting gotri
cut loss , when candle break trendline
i think it's low risk, high reward
trendline looks like 1615. Is that where you see it? $20 from 1640 where you first mentioned longs?
I have no enemy; I make Incautiousness my Enemy.
  • #18,697
  • May 7, 2012 10:22am May 7, 2012 10:22am
"Federal Reserve Chairman Ben S. Bernanke agrees. If the labor market heals too slowly, the 5.1 million Americans out of work for at least six months may face declining odds of ever finding a job - leading to permanently higher unemployment, a phenomenon known as hysteresis. Bernanke says while this hasn’t happened yet ... the risk that it could bolsters his case to keep record monetary stimulus in place. "

http://www.businessweek.com/news/201...anke-fed-focus

Weekly jobless claims, producer inflation data and trade data are among the economic reports this week.

Tuesday
0100 pm $32 billion 3-year note auction
Wednesday
1200 pm Philadelphia Fed President Charles Plosser speaks in Philadelphia
0100 pm $24 billion 10-year auction
Thursday
0830 am Weekly jobless claims
0830 am Import prices
0930 am Fed Chairman Ben Bernanke speaks at Chicago Fed conference on bank structure
0100 pm 30-year auction
0120 pm Minneapolis Fed’s Kocherlakota on monetary transparency
Friday
0830 am PPI
0955 am Consumer sentiment
I have no enemy; I make Incautiousness my Enemy.
  • #18,698
  • May 7, 2012 10:38am May 7, 2012 10:38am
http://i45.tinypic.com/2q8o8px.jpg
  • #18,699
  • May 7, 2012 10:50am May 7, 2012 10:50am
Quoting jimobiwan
trendline looks like 1615. Is that where you see it? $20 from 1640 where you first mentioned longs?
imho:
yes the trendline at 1614-1615, but i am still watching for monthly closing candle. because i'm looking at monthly chart, i think $20 risk is fair enough compare to the reward.

Right now i'm also trade using daily / h4 timeframe, with the smaller risk reward ratio
Price Action
  • #18,700
  • May 7, 2012 12:38pm May 7, 2012 12:38pm
Quoting gotri
imho:
yes the trendline at 1614-1615, but i am still watching for monthly closing candle. because i'm looking at monthly chart, i think $20 risk is fair enough compare to the reward.

Right now i'm also trade using daily / h4 timeframe, with the smaller risk reward ratio
Sounds like you have a plan - good to execute a plan with clear objectives and bottom lines. Big pips to you.
I have no enemy; I make Incautiousness my Enemy.
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