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

  • #20,061
  • Jul 25, 2012 11:52pm Jul 25, 2012 11:52pm
The price as been in a small range for a long time and when it will break out of this range it will make a lot of damage on either side its not a time to scalp the gold market but to take a long term position with a smart stop would be a smart investment trade. Be really careful with gold its getting a hot market we could revisit the low in a matter of minutes. Volatility I think is gonna get trough the roof so ttake care of your position.
  • #20,062
  • Jul 26, 2012 12:56am Jul 26, 2012 12:56am
Just out of curiosity, what is this based on?

Quoting Bridge
The price as been in a small range for a long time and when it will break out of this range it will make a lot of damage on either side its not a time to scalp the gold market but to take a long term position with a smart stop would be a smart investment trade. Be really careful with gold its getting a hot market we could revisit the low in a matter of minutes. Volatility I think is gonna get trough the roof so ttake care of your position.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,063
  • Jul 26, 2012 1:31am Jul 26, 2012 1:31am
Quoting Bridge
The price as been in a small range for a long time and when it will break out of this range it will make a lot of damage on either side its not a time to scalp the gold market but to take a long term position with a smart stop would be a smart investment trade. Be really careful with gold its getting a hot market we could revisit the low in a matter of minutes. Volatility I think is gonna get trough the roof so ttake care of your position.
If you INVEST in gold it's good to know you can buy gold at 1900lvl and still be safe if you have the required margin, if you TRADE gold is something different but saying we need to INVEST (8-12months) in gold with a "smart stop" sounds a little silly to me...
  • #20,064
  • Jul 26, 2012 1:42am Jul 26, 2012 1:42am
CHART 1: MY regular weekly channel blown up to show the current week
CHART 2: Lines > Amazing how they just come together. All I did was draw.
CHART 3: Messy, Multiple indi, and line chart for fun.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Gold weekly jly 12 blowup.GIF Size: 27 KB
Click to Enlarge Name: Gold tris JLY 12.GIF Size: 29 KB
Click to Enlarge Name: Gold Messy indi triangle chart jly 12.GIF Size: 37 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,065
  • Jul 26, 2012 5:36am Jul 26, 2012 5:36am
mon. rotation up from daily lows 1568 to closing just above tue. pivot 1579 and wed up above daily highs 1598-99 area normaly would be a breakout on the daily so hang on to longs from earlier in the week.
However as several discussed 1612 and 1625 area as trendline resistance.
A normal pattern is to hit weekly highs 1625 area and rotate back (unless theres a breakout), retesting and confirming wed. resistance 1611-12 area as upcoming support.
A hold would put The single year (1600), quarterly pivot (1611) at our backs which spells bull, along with the lesser trends pivots the daily, weekly, and monthly.
Bias is up from Daily breakout area and yearly pivot. 1598-1600.
  • #20,066
  • Jul 26, 2012 7:04am Jul 26, 2012 7:04am
On Euro News

http://www.fxstreet.com/news/forex-n...a-d50c0e9e44b9
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,067
  • Jul 26, 2012 7:09am Jul 26, 2012 7:09am
Gold up almost 15 USD on top of the 23 during new york yesterday,

Euro and Cable pushing 200 pips in 2 hours and the rest of the pairs around 100.

Quoting XTrade
On Euro News

http://www.fxstreet.com/news/forex-n...a-d50c0e9e44b9
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,068
  • Jul 26, 2012 7:32am Jul 26, 2012 7:32am
This was awesome to wake up to! Just closed out NET 500 pips on currency trades from last night! Gross easily over 1000. May not trade the rest of day.

Besides just holding Gold - Silver - and some selected currency longs

There is the possibility for some 200 and 300 pip day moves here on certain pairs..... we'll see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,069
  • Jul 26, 2012 7:38am Jul 26, 2012 7:38am
The buck is getting dumped across the board! Cable looks ready for a 250 day and swissy is nose-diving!

The metals should be breaking out just on dollar weakness I smell manipulation...

Silver not above 28? HUH?!?! WTF.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,070
  • Jul 26, 2012 7:47am Jul 26, 2012 7:47am
Watching for 9750 to fall out on swissy, then she may plummet further!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,071
  • Jul 26, 2012 9:55am Jul 26, 2012 9:55am
Quoting XTrade
The buck is getting dumped across the board! Cable looks ready for a 250 day and swissy is nose-diving!

The metals should be breaking out just on dollar weakness I smell manipulation...

Silver not above 28? HUH?!?! WTF.
Yes. Very odd.

Got stopped out but risk was small. Waiting for a break and close above 1624 or below 1610. Something tells me the Bullish momentum will not sustain unless something substantive comes out of next week's FOMC meeting. In the meantime, I'll trade what i see.
  • #20,072
  • Jul 26, 2012 11:29am Jul 26, 2012 11:29am
Above 1600 before this market move on its own was a nice bullish sign for gold. suggesting the move is real and not pushed along by the Euro.

Being that the news changes very often out of th EUzone all the time, today could be some proceeding with caution mixed with manipulation and perhaps even early profit taking. Big Boys will do that when no one else is looking.....



Quoting donnyv
Yes. Very odd.

Got stopped out but risk was small. Waiting for a break and close above 1624 or below 1610. Something tells me the Bullish momentum will not sustain unless something substantive comes out of next week's FOMC meeting. In the meantime, I'll trade what i see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,073
  • Jul 26, 2012 11:53am Jul 26, 2012 11:53am
I think Gold enthusiasm should be tempered until at least a close higher than the last TWO months of 1627 area.

Yesterday's volume was very good. Need more like it to signal to me move out of this boring range is real. Oh and about $40-50 higher would help too. Although then it will run into downtrend line off alltime highs.

Work to do.
  • #20,074
  • Jul 26, 2012 11:57am Jul 26, 2012 11:57am
$XAU miners index meanwhile has a muted response today. No HH, narrow range, up barely .25%
  • #20,075
  • Jul 26, 2012 8:48pm Jul 26, 2012 8:48pm
Quoting lilpip
wed up above daily highs 1598-99 area normaly would be a breakout on the daily so hang on to longs from earlier in the week.
A normal pattern is to hit weekly highs 1625 area and rotate back (unless theres a breakout), retesting and confirming wed. resistance 1611-12 area as upcoming support.
Bias is up from Daily breakout area and yearly pivot. 1598-1600.
Thur. rotation back to 1600 area and up near the 1625 area along with a daily close holding above 1611-12.
Will we have a 2nd daily close above 1611-12 ? Watching candle formations between 1615 and 1611 @ fri start.
Fri daily
1625-29
1600
1571
Consensus is with the rest of ya with eyes on 1625-29 area response.
  • #20,076
  • Jul 27, 2012 2:54am Jul 27, 2012 2:54am
It looks like XAU/USD will remain flat until after the US GDP @ 8.30 EST. Yaw-w-w-n.
  • #20,077
  • Edited 3:36am Jul 27, 2012 3:35am | Edited 3:36am
Good Points here Sun, Good Points, including next post too.

AGREED,

yet it is a bit tough, when we move 50 USD appx in 2 days from 10 up and down! Right through resistance no less,..
Quoting SunTrader
I think Gold enthusiasm should be tempered until at least a close higher than the last TWO months of 1627 area.

Yesterday's volume was very good. Need more like it to signal to me move out of this boring range is real. Oh and about $40-50 higher would help too. Although then it will run into downtrend line off alltime highs.

Work to do.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,078
  • Jul 27, 2012 4:38am Jul 27, 2012 4:38am
Quoting Tsotsi
It looks like XAU/USD will remain flat until after the US GDP @ 8.30 EST. Yaw-w-w-n.
Agree , I think that new home sales will affect the GDP badly , I wish I can see today 1700 .
  • #20,079
  • Jul 27, 2012 5:15am Jul 27, 2012 5:15am
Quoting Peet91
Agree , I think that new home sales will affect the GDP badly , I wish I can see today 1700 .
1700 for what? Gold?
  • #20,080
  • Jul 27, 2012 5:30am Jul 27, 2012 5:30am
Quoting Daytrader74
1700 for what? Gold?
yes that's my wish
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