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

  • #19,021
  • Jun 2, 2012 2:58am Jun 2, 2012 2:58am
Quoting forexfacts
Gold up 3.75 percent, Silver up 2.75 percent, everything else is down, stocks, almost all other commodities including oil.

This shows that the world is still after these metals, Those who say gold will drop down to $1200, it is very difficult, people have lost their faith in currencies, this rise after so long shows a clear picture to us.
Think we have the same sentiment. My thoughts are that the case is similar to 2008-2009. Gold already stared to rise when eur still was going down during the third test of the bottom. Also drop from the highs were about the same % as the drop from 1920 to 1520 now. Have to be careful, but i think this year we can test the highs of last year. This does not mean that one cannot earn money on retracments. If next week 1600 holds i might think that slowly the bulls will return.

Those who think this thread went down in the toilet I say do not take everything so serious, we need some laugh too. I very appreciate the information from the more experienced. But hey, every comment is welcome!?
About Vladimir: he has a method, like it or hate it, but it is his opinion, he does not say it is good or you have to follow it. I hope this thread is democratic, was so far!

I very like this thread, I read it several times a day even if I am rarely commenting. I use it to strenghten my strategy or revise it.

Thanks all of you for the contribution!!!
  • #19,022
  • Jun 2, 2012 7:58am Jun 2, 2012 7:58am
I agree with you Blazehun, keep posting the good and informative stuff please
  • #19,023
  • Jun 2, 2012 8:38am Jun 2, 2012 8:38am
People, can we please put this to bed once and for all. I don't think anyone has a problem with Vlad or anyone else posting charts or entries if they explain what they are doing as required by XTrade's thread rules. XTtade's thread equals XTrade's rules - like it or leave.....

Remember there are plenty of newbies here who may just follow "Buy Here" or "Sell Here" posts to their possible detriment. By explaining why such calls are being made readers can then decide whether or not to become involved. Vlad in particular has refused to explain his system while crowing about its brilliance.

As has been mentioned he claims to work for some part of JP Morgan and to be using their "system". I have no idea whether this is true or not but I have two concerns:

1. He works for JPM and is making calls to the list as a whole as an employee with their permission but without knowing individual circumstances - in which case he should legally be issuing disclaimers etc. OR he is an employee of JPM making calls without their permission. Either way, Rule #3 of the User Guide should exclude his posts.

2. He does not work for JPM and is claiming to do so to give his calls some gravitas.

As I stated I have no idea which is the case and obviously will not pay any attention to him until he explains the reasons behind his calls.

My concern is for those newbies that might take notice of his posts without thinking properly about the circumstances behind them. Anyone who takes advice given anonymously and without reasoning on an internet forum deserves to be seperated from their money but I think the continuing quality and respect of this thread can be better maintained if we insist posters are "up-front" and explain their reasoning.

beeb
  • #19,024
  • Jun 2, 2012 8:44am Jun 2, 2012 8:44am
Quote
Remember there are plenty of newbies here who may just follow "Buy Here" or "Sell Here" posts to their possible detriment. By explaining why such calls are being made readers can then decide whether or not to become involved.

Agree !
  • #19,025
  • Jun 2, 2012 9:50am Jun 2, 2012 9:50am
Quoting Marv
Same here.

You and I started off on the wrong foot but I totally see your point now. lol

Sorry.
Yeah I feel the same.

Yourself and many others "know the deal".

But as soon as someone posts something that is even remotely plausible, or I will admit accurate sometimes at that market moment but without context, posters come out of the woodwork applauding them. And also castigating anyone who dares to question the usefullness and/or quality of the posts.

Oh well.
  • #19,026
  • Jun 2, 2012 9:53am Jun 2, 2012 9:53am
Quoting beeb
People, can we please put this to bed once and for all. I don't think anyone has a problem with Vlad or anyone else posting charts or entries if they explain what they are doing as required by XTrade's thread rules. XTtade's thread equals XTrade's rules - like it or leave.....

beeb
+ 1 for the full post
  • #19,027
  • Jun 2, 2012 10:29am Jun 2, 2012 10:29am
This thread is being "broadcasted" at twitter. @FSBTrading https://twitter.com/#!/FSBTrading.

So, please be polite we are On the Air.
  • #19,028
  • Jun 2, 2012 2:30pm Jun 2, 2012 2:30pm
I sort of agree now with your idea. The media is starting to push that America is not on the right track. I can see now that things are starting to shape up rather nicely, in terms of supporting this. At first I was thinking a small retracement to 1634 to 1645, but if these barriers are broken then it will definitely aid to its continued up trend until America gets ahold of itself. In due time I feel that we will get back on track and then I see gold falling. I still feel though it’s too early to let the economy go back into its depression state, but maybe that needs to happen to get us back on track. Now I'm starting to look forward to 1790 or 1730 and then it will be based on the economic growth or its failure. Though trading does not completely effected by the news I feel it's going to make it easy this time around to predict its trend. I think we need to make this gold forum the new place of activity on Forex Factory. We need to work together on making the right decisions and remove are egos about the market, so we can all win together.

Quoting HotBiscuits
Personally, I see a major retracement then a continuation of the downtrend. How about some opinions?
  • #19,029
  • Jun 2, 2012 2:34pm Jun 2, 2012 2:34pm
Difficult yes! The most rewarding: most definitely. It’s difficult if you’re not patient and wise to its movement.
Quoting -Melo-
Cool, I didnt know we had a gold thread. How you guys doing, I heard that trading gold is very difficult
  • #19,030
  • Jun 2, 2012 2:48pm Jun 2, 2012 2:48pm
Quoting -Melo-
Cool, I didnt know we had a gold thread. How you guys doing, I heard that trading gold is very difficult
It is difficult to trade - not impossible though. Especially for those who think there are wise to its movement.

Every trade done by a brand new newb trader or George Soros is a guess at best.

Some guess better than others. How you handle it and most important how you control your risk determines your chance of success.
  • #19,031
  • Jun 2, 2012 10:30pm Jun 2, 2012 10:30pm
Everybody should read this post twice that is new.

beeb being a senior contributor and integral not to mention one of the best gold traders I know is often right in what he says and if there is a question, there is an explanation without asking.

---------------------------------------

VLAD has been warned once and I will have to read back to see his latest useless posts.

I would certainly think it to be a conflict of interest for an employee of JPM to be posting ANYTHING on a financial forum and saying that they are so employed.

Perhaps if he were to hide and not disclose this fiction or fact behind an odd handle then, maybe then, he could get away with it.

I for one would not risk my job to do so.

Not to mention I would expect the value and caliber of someone working for a desk at JPM to be much higher than what I have seen.

I doubt anyone at the FX desk at JPM NY or LDN knows what MT4 is either. maybe a few. It was and always will be a retail program. Sure it can be used by professionals but that was not what it was designed for.

It was designed for market makers.

X
Quoting beeb
People, can we please put this to bed once and for all. I don't think anyone has a problem with Vlad or anyone else posting charts or entries if they explain what they are doing as required by XTrade's thread rules. XTtade's thread equals XTrade's rules - like it or leave.....

Remember there are plenty of newbies here who may just follow "Buy Here" or "Sell Here" posts to their possible detriment. By explaining why such calls are being made readers can then decide whether or not to become involved. Vlad in particular has refused to...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,032
  • Jun 2, 2012 10:49pm Jun 2, 2012 10:49pm
The obvious level of 1625 appx.
Which was old support.

What a GREAT day for the yellow metal, platinum shined with only half the gains.

We are now back inside the weekly channel above the dip line and below the normal bottom.

yet let's not discount this movement of one daily bar to the tune of 83.70 is what I have. So appx. that.

We are also closed just below the 50 day SMA that coupled with the aforementioned horizontal resistance and likely the close of trading she may have been able to clear 100 USD on this move.

Next post we'll look at the charts.

Now a more significant "timewise" double bottom has been put on the table as a possibility.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,033
  • Jun 2, 2012 11:03pm Jun 2, 2012 11:03pm
Here are some old daily and weekly views to start.

Then we will take a peek at current.
Attached Image (click to enlarge)
Click to Enlarge Name: gold weekly 1535 supports.GIF Size: 44 KB
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,034
  • Jun 2, 2012 11:06pm Jun 2, 2012 11:06pm
This was the posted analysis before the move charts above.,

Quoting XTrade
Looking again at the daily chart we had

a test on my 1535 area line. A nice bounce then the price fell back down yet not to the same reaction low of 1526 yet ten bux higher at my line of 1535.

Now we have a higher low.

Next price point after the rise from 1535 to 1550 and a minor support created with two daily bars forming at price 1550.

Now. One bar is a spinning top and the next which is the current bar appears to have rejected the lower prices. And today we are on the rise as of yet.

Basically we are on support below the channel...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,035
  • Jun 3, 2012 9:13am Jun 3, 2012 9:13am
  •  Fib
  • | Joined May 2012 | Status: Dinapoli+Fibonacci=Upper Hand | 58 Posts
Hello Everyone,

Here is my view on gold for coming days ...

On the daily we see the price hit the K level (38.2+61.8) and it should retrace from it .

http://s16.postimage.org/bte976xtd/gold1.jpg

also on 4H chart we see a possible retracement to 38.2 fib support and then continue to the upside.

http://s12.postimage.org/mkd6mrjnt/gold2.jpg

Also on 30M chart we see a DRPO is developing and we may see a retracement to 61.8 (1577) .

Please share your view on the coming week ..

Good luck.
  • #19,036
  • Jun 3, 2012 11:39am Jun 3, 2012 11:39am
Agree to more upside.

Here are the two daily's old and new side by side.

all that accumulation and the support below seemed to have held
and helped golds move up on friday, yet we cannot forget the other LARGE factor here. The HORRIFIC NFP report and Unemployment climb.


Gold also broke a minor but working DTL presented in red.

In the next charts things will be more visible - these are just clips to show the consolidation then breakout, on a tech and fundamental view.
Attached Image (click to enlarge)
Click to Enlarge Name: gold daily 1535 v2 burst.GIF Size: 14 KB
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,037
  • Jun 3, 2012 3:17pm Jun 3, 2012 3:17pm
Hello, the gold market opens in how many time?

Thank you
  • #19,038
  • Jun 3, 2012 3:34pm Jun 3, 2012 3:34pm
1 hour, 43 minutes from the time of your post
  • #19,039
  • Jun 3, 2012 3:35pm Jun 3, 2012 3:35pm
Quoting ikdenk
1 hour, 43 minutes from the time of your post
Thank you ikdenk
  • #19,040
  • Jun 3, 2012 6:56pm Jun 3, 2012 6:56pm
The girl says no to monthly close below 1600.
Also eyes on 27.90-95 area.
Areas of extra interest this week
1650
1580
1540
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