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

  • #19,761
  • Edited 5:55am Jul 7, 2012 5:36am | Edited 5:55am
Good now every body play nice.

Peet it seems by his response you are not but if you want to learn anything from a great trader I would do my best to not make beeb's list. With 18 posts I would say it's not good if you are on his shit list.

just my 2 gold coins take it or leave it.


XT

Quoting beeb
That was easy

Much appreciated

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,762
  • Jul 7, 2012 5:48am Jul 7, 2012 5:48am
Interesting post and thoughts yet have you ever considered the deflationary positives for GOLD? and or it's ability to seem to flip back and forth from a risk asset to a save haven?

Or the way it tracks nothing?

Think about the deflationary positives and let's discuss.
what good is a box of cash under your mattress???


Now keep in mind as well if you walk into a dealer to buy one Generic let's even go as far as to say beaten up looking troy oz of GOld you are going to drop 1650 at least in NYC. In the UK there is VAT so maybe 1700 assuming we are working with 1600.

Forget about friday's measly dip. The market does not always do what it is supposed to and I think we can credit banks with fucking up most of the global financial system so let forget about them too.


Back to digging into your pocket.

is 1600 cheap for a bar the size of your small finger?think about it.

it's 300 below a record high and that is dead?

interested in your response.

BTW after re reading your post not much of your #s have any thing to do with gold. yet rather the financial system and it's dysfunction.

Quoting Becel
QE is actually taking toxic assets off banks balance sheets which is supposed to allow the banks to lend more freely. The problem is:

1. The banks are heavily insolvent.
2. Public sector debt is so high that banks cant justify lending more money to people that are up to their eyeballs in debt already.
3. The banks are little more than large hedge funds because of the repeal of Glass Steagal. They would rather free up capital to speculate with customer deposits than to lend.
4. They can always borrow at zero percent and buy thirty year...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,763
  • Jul 7, 2012 5:53am Jul 7, 2012 5:53am
I hate reminding this but will any way. If you make my ignore list you can't post.

Usually this comes with 2 prior warnings and maybe a third if you are lucky.

sometimes not.

No threats here just a reminder.
thanks...
mgmt

Quoting XTrade
Good now every body play nice.

Peet it seems by his response you are not but if you want to learn anything from a great trader I would do my best to not make beeb's list.

just my 2 gold coins take it or leave it.


XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,764
  • Jul 7, 2012 6:15am Jul 7, 2012 6:15am
Why after three years of posting is a $20 usd dip a big deal to some of you?

Don't you realize only last year we had $50 usd swings and 100 USD days???

These are the times you want to watch your entries.

Scalpers ok I can understand a standard on a 20 usd loss is bad, yet you know the market usually gives you one chance to get out at BE (BREAK EVEN) or close.

You should be happy the market (GOLD) is up and down 20 bucks.

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

Not to mention if u truly believe that banks are the root of financial evil than you should know where this run is going........

And what do banks have lots of?????? GOLD and silver. AND THEY RARELY SELL IT TO THE OPEN MARKET.

it just changes name tags in a dusty room to squash debts.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,765
  • Jul 7, 2012 6:20am Jul 7, 2012 6:20am
wow nearing 20,000 posts. give yourselves a pat on the back an welcome to all the noobs and noobs to the thread I have not formerly greeted.


XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,766
  • Jul 7, 2012 10:44am Jul 7, 2012 10:44am
Quoting XTrade
Gold hit the channel dip line twice and was mildly rejected (20$)

Plus NFP sucked which should have made it rise friday.

perhaps position squaring before weekend and profit taking due to the failed break of the line....


better luck next week - we should be getting a push back into mid channel appx 150 + usd to 1730/50 area in coming weeks.

I highly doubt the bottom appx area 100 week sma will be tested again. not to mention we are on interim support and the closing bar was green.............

opposition welcome.
Hi, XTrade, I am new here, can you explain please?
With "bottom appx area 100 week sma" you mean ~ 1550 this area ?
  • #19,767
  • Jul 7, 2012 11:32am Jul 7, 2012 11:32am
Quoting XTrade

Now keep in mind as well if you walk into a dealer to buy one Generic let's even go as far as to say beaten up looking troy oz of GOld you are going to drop 1650 at least in NYC. In the UK there is VAT so maybe 1700 assuming we are working with 1600.

XTrade

FYI gold in UK and Europe is not subect to VAT at all, unlike silver where the rate varies between countries....

beeb
  • #19,768
  • Jul 7, 2012 7:21pm Jul 7, 2012 7:21pm
Quoting XTrade
I hate reminding this but will any way. If you make my ignore list you can't post.

Usually this comes with 2 prior warnings and maybe a third if you are lucky.

sometimes not.

No threats here just a reminder.
thanks...
mgmt
Hey Xtrade
I want to say that I don't have any problems with beeb at all , it was a misunderstanding and now it is clear .
I know that there is a lot of great traders here like you and beeb , I really want to learn from you .
about my 18 posts it seems to be nothing to you , I want to tell you that I have a finale project to be done in September , and I am sure that when I am done with it I will post and share more that I was, by the way I just found your reply 5 min ago , sorry if my reply is so late .
  • #19,769
  • Jul 7, 2012 10:06pm Jul 7, 2012 10:06pm
My apologies, due to a class I am taking I have been short on time.

Look back through old posts to see the weekly channel progression.

BUT I WILL ADD A NEW EXPLANATORY AND UPDATED CHART OR 2 TO ACCOMPANY MY WORDS.

So just stay tuned.

XT
Quoting Narrow FX
Hi, XTrade, I am new here, can you explain please?
With "bottom appx area 100 week sma" you mean ~ 1550 this area ?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,770
  • Jul 7, 2012 10:12pm Jul 7, 2012 10:12pm
Peet,

there is no problem here, and it is not the number of posts only the quality that is important.

That was the first post I read of yours and wanted to ensure that there was not an issue with you and beeb, you being new.

Since he has decided to post again I am trying to keep him here since I too learn from him although our styles are slightly different, we know the "game" and who games the game.

It was not meant to be a derogatory statement to you, post when you like as often or as un often as u like,
and remember no question is stupid only the one not asked,

BTW, you can search the thread. And obviously google for tha small stuff.

Welcome to you.

XT

Quoting Peet91
Hey Xtrade
I want to say that I don't have any problems with beeb at all , it was a misunderstanding and now it is clear .
I know that there is a lot of great traders here like you and beeb , I really want to learn from you .
about my 18 posts it seems to be nothing to you , I want to tell you that I have a finale project to be done in September , and I am sure that when I am done with it I will post and share more that I was, by the way I just found your reply 5 min ago , sorry if my reply is so late .
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,771
  • Jul 7, 2012 10:13pm Jul 7, 2012 10:13pm
beeb, thank you for the correction.

I was confusing buying silver in sweden from what I was told by an old physical client. Correct me if I am wrong but there is VAT in Sweden. Hence us shipping him US made silver for a lesser price.

Quoting beeb
XTrade

FYI gold in UK and Europe is not subect to VAT at all, unlike silver where the rate varies between countries....

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,772
  • Jul 7, 2012 11:07pm Jul 7, 2012 11:07pm
I use MT4 to trade Gold because it is the only platform in the US I can still do so on. I ALSO DO SO WITH ABSOLUTELY NO LEVERAGE. I also use it for charting and I consistently wipe my charts to nothing and redraw the same channel to perfect it.

Unfortunately it seems the first and longest candle chart is a bit sloppy but you will get the point.

Here is a key to the charts.

Blue lines rising = regular price movement channel
Red lines rising = channel price blowouts/ reaction highs or lows "dips" etc.

Gray lines are support and resistance A R E A S - I don't work with specific numbers because they are of little importance.

Big fat horizontal lines - yellow - red - green = major support and resistance.

This is not rocket science.

The other fatter RISING lines you will see thru out most of the charts especially the weekly are SIMPLE MOVING AVERAGES or SMAs.

50 Week = Green
100 Week = Red
200 Week = Blue

Almost like a weekly Bill Williams alligator but different. These are also used as MAJOR support and resistance areas for price of gold.

You will see how with the time frame of the chart the SMA changes.
It all depends on how you are trading and what you are basing your trades off. I use most all of my analysis from the WEEKLY and higher. Even if I trade the M30. Which I rarely do with gold.
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly channel update 7712.GIF Size: 44 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,773
  • Jul 7, 2012 11:14pm Jul 7, 2012 11:14pm
More charts from the weekly in different TFs (Time Frames) to answer the question and update.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly xau closep 7712 in h4.GIF Size: 39 KB
Click to Enlarge Name: weekly xau closep 7712 in daily.GIF Size: 40 KB
Click to Enlarge Name: Weekly channel update 7712 no2.GIF Size: 43 KB
Click to Enlarge Name: weekly xau closep 7712.GIF Size: 16 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,774
  • Jul 7, 2012 11:22pm Jul 7, 2012 11:22pm
History repeats itself.

....................................................................
Attached Image (click to enlarge)
Click to Enlarge Name: weekly xau closep 7712 history repeats.GIF Size: 38 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,775
  • Jul 8, 2012 12:12am Jul 8, 2012 12:12am
If YOU have questions ASK THEM.

I am DONE for now. see u guys and girls tomorrow.

PEACE!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,776
  • Jul 8, 2012 12:13am Jul 8, 2012 12:13am
Quoting XTrade
History repeats itself.

....................................................................
If I must say chart of the day.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,777
  • Jul 8, 2012 4:07pm Jul 8, 2012 4:07pm
I don't know if this has been mentioned here or not, but this could be massive for Gold.

http://www.bloomberg.com/news/2012-0...red-swaps.html
  • #19,778
  • Jul 8, 2012 5:30pm Jul 8, 2012 5:30pm
Quoting donnyv
I don't know if this has been mentioned here or not, but this could be massive for Gold.
I don't see why?
  • #19,779
  • Jul 8, 2012 6:01pm Jul 8, 2012 6:01pm
Quoting donnyv
I don't know if this has been mentioned here or not, but this could be massive for Gold.

http://www.bloomberg.com/news/2012-0...red-swaps.html
In a nutshell, The Basel group is proposing Gold [among a list of other assets] be treated as the highest form of collateral in the $650 trillion over-the-counter derivatives market. The aim is basically to standardise margin requirements, forcing banks to hold collateral to reduce probability of another Lehman dilemma. Basically, if their proposal comes into play, watch out for an unusually HUGE spike upwards!
  • #19,780
  • Jul 8, 2012 6:58pm Jul 8, 2012 6:58pm
what the hell silver price low as low 0.33..it burn already my account..how about you guy?
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