XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1014 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

Attachments: XAU/USD & XAG/USD - Gold & Silver Traders Thread
Exit Attachments

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

  • #20,261
  • Aug 17, 2012 3:49am Aug 17, 2012 3:49am
Jeez XTrade - it's August - take a chill pill and enjoy lol......

Not much change in the market's behaviour - still seeing action along the same GC 240 lines as posted a while back:

http://www.screencast.com/t/KDzMBtWXv

beeb
  • #20,262
  • Aug 17, 2012 4:02am Aug 17, 2012 4:02am
Someone must have made XT angry...hmm...maybe angry birds .
  • #20,263
  • Edited 6:01am Aug 17, 2012 5:40am | Edited 6:01am
Funny , funny!!! not angry in the slightest, just trying to stir up some conversation! And opposition. Got two replies thus far!

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,264
  • Aug 17, 2012 5:46am Aug 17, 2012 5:46am
Market priming for a breakout. get ready..
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 35.png Size: 51 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,265
  • Edited 6:00am Aug 17, 2012 5:54am | Edited 6:00am
beautiful charts... Why must Gold spawn a pattern than create orphan after orphan... Jeese look at all those triangles. I remember when it was cup and handles.!
Quoting beeb
Jeez XTrade - it's August - take a chill pill and enjoy lol......

Not much change in the market's behaviour - still seeing action along the same GC 240 lines as posted a while back:

http://www.screencast.com/t/KDzMBtWXv

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,266
  • Aug 17, 2012 5:56am Aug 17, 2012 5:56am
keep an eye on the grey area......

http://www.kitco.com/images/live/gold.gif

Just by looking at this I'd say 1605 today due to profit taking and position squaring before the weekend and - before a needed break of 1625 hopefully I am wrong.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,267
  • Aug 17, 2012 6:23am Aug 17, 2012 6:23am
Quoting XTrade
beautiful charts... Why must Gold spawn a pattern than create orphan after orphan... Jeese look at all those triangles. I remember when it was cup and handles.!

Thanks X

Here's something else to think about - you could argue that the triangles are moving higher, with the pink triangle morphing into the green one morphing into the blue one..... However, I'll stick with the series of pink lines shown earlier....

http://www.screencast.com/t/6tjKuodOWJW

beeb
  • #20,268
  • Aug 17, 2012 6:36am Aug 17, 2012 6:36am
Hi, I have not attempted to trade Gold as yet, but I have found from Trading ICE Brent, its not so much trends to look for its more r&S/range based and seems to respect moving averages a lot more... would you say that gold is the same on terms of you should look for possible points of large orders etc rather than following trends such as in retail fx?
  • #20,269
  • Aug 17, 2012 6:43am Aug 17, 2012 6:43am
Well I was gonna simply say the BIG ONE IS DONE!!!!!!

Cracked tested and rejected.
Quoting beeb
Thanks X

Here's something else to think about - you could argue that the triangles are moving higher, with the pink triangle morphing into the green one morphing into the blue one..... However, I'll stick with the series of pink lines shown earlier....

http://www.screencast.com/t/6tjKuodOWJW

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,270
  • Aug 17, 2012 6:45am Aug 17, 2012 6:45am
MB,

If you look at longer term charts Gold does heavily respect moving averages.

since you are new why not try a search of the thread for "Weekly channel" or just look a few posts back at one of the charts I posted, the TL is straight like the MA.

Or look at any of beeb's chart's...


Quoting MrBurns
Hi, I have not attempted to trade Gold as yet, but I have found from Trading ICE Brent, its not so much trends to look for its more r&S/range based and seems to respect moving averages a lot more... would you say that gold is the same on terms of you should look for possible points of large orders etc rather than following trends such as in retail fx?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,271
  • Aug 17, 2012 6:49am Aug 17, 2012 6:49am
Also I assume you mean resistance and support in R&S?

AND YES AND NO is the answer.

Shorter term for the RANGE
Longer term for the prevailing trend.

This can swing a few hundred bucks.

Now, This is SURELY NOT to say that SUPPORT and resistance are not important on longer term charts, if anything they are further apart and more powerful,
yet we are in the gold doldrums season. soon to be over, so get ready buckle in tight and we should be trading 50 USD days soon enough.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,272
  • Aug 17, 2012 6:53am Aug 17, 2012 6:53am
Quoting XTrade
MB,

If you look at longer term charts Gold does heavily respect moving averages.

since you are new why not try a search of the thread for "Weekly channel" or just look a few posts back at one of the charts I posted, the TL is straight like the MA.

Or look at any of beeb's chart's...

Thanks, I will have a good browse through the thread when i get a chance to take it all in. I enjoy trading commodities because they move fast but like you say can sting you in the arse if you dont have a clue what your doing so Gold is quite daunting.
  • #20,273
  • Aug 17, 2012 7:21am Aug 17, 2012 7:21am
Gold to trader's and investors is a rollercoaster ride of emotions we try to hide, and don't kid yourself a 1 or 2 USD move on BRENT or WTI TEXAS LITE" can KILL YOU with the wrong leverage that is a 100 - 200 pip move. EASILY happens on news days, I have seen 5 USD brent days and we all have seen 50 to almost 100 USD moves in a day in GOLD.

Follow the trend, it is your friend. stick around and pick our brains and ure sure to learn.

Promise u that.

Gotta run guys, Happy FREAKY FRIDAY!!!$$$??!!??$$??###
Quoting MrBurns
Thanks, I will have a good browse through the thread when i get a chance to take it all in. I enjoy trading commodities because they move fast but like you say can sting you in the arse if you dont have a clue what your doing so Gold is quite daunting.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,274
  • Aug 17, 2012 8:10am Aug 17, 2012 8:10am
A little off-topic. Who wants to exchange facebook ID's or share some photos? After almost 3 years it would be nice if we could see each other, i think it would get us closer to one another...

P.S. I'm dead curious to see beeb's face .
  • #20,275
  • Aug 17, 2012 11:18am Aug 17, 2012 11:18am
I don't trade gold, but if I did, I'd be really interested to see how this current triangle formation breaks out!

Looking to buy Gu around 1.5640 - 1.5660 area. I saw you were also positioning for a long Xtrade, whereabouts are you looking?
Attached Image (click to enlarge)
Click to Enlarge Name: gold18aug2012.gif Size: 29 KB
  • #20,276
  • Aug 17, 2012 12:28pm Aug 17, 2012 12:28pm
What happened to the live trade chart, or have I confused this forum with another one?
You can always make money tomorrow provided you don't lose it today.
  • #20,277
  • Edited 10:44am Aug 18, 2012 10:21am | Edited 10:44am
http://www.kitco.com/images/live/nygold.gifInteresting chart and a nice example of Price Action on an average day for the newbies.

Price starts out I'm going to use rounding to make it simpler and it seems the range was appx 10 USD, a typical slow range, thin day.

So Price starts out session bounces to daily high appx 1620 from 1615, after hitting the high she slowly retraces down to create the daily lo at 1610 (Reallly 1612) Then bounces back up and slowly fizzles out moving about a 3 USD range for a bit then an even more distinct 2 USD range for the rest of the afternoon until the end where the price flatlines at a close of 1616. Volume after noon probably sufficiently dropped off and the range offered a scalping opportunity. Price closes Basically in the middle here between the high and the low, and sustaining a small gain for the session off the open price.

If you bought the open you could have sold at the high or close and had a fairly quick day. in and out. if you sold the high you could have covered the short at the low or close to the open price expecting some support in this area.

If you bought the open as a position to hold for a few weeks, you would have closed the week with an appx 4 USD gain or 400 pips.


This is where you need to see how it is important to have patience. Both a long and a short could have profited at different times today.

Close 1615.80

Quoting Kadc
What happened to the live trade chart, or have I confused this forum with another one?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,278
  • Edited 11:40am Aug 18, 2012 10:39am | Edited 11:40am
http://www.kitco.com/images/live/nysilver.gif

Price starts session off at 28.15, dips, slightly then makes high. Unfortunately after the meager high of only cents higher, the price erases all the daily gains, even making a fresh daily low, which was then recovered, likely due to simple profit taking and position squaring, closing out .12 or 15 cents appx lower than session open. Not much of a loss for the day but not a gain.

Although it did close in the 28 USD level which is higher than earlier in the WEEK, so for the week there was a gain.

Close 28.090
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,279
  • Aug 18, 2012 12:40pm Aug 18, 2012 12:40pm
Trying to put the flatlining in context - here's a 20 min SI - not too much confirmation but it might be worth watching.......

http://www.screencast.com/t/7KJPvr6D

beeb
  • #20,280
  • Aug 19, 2012 1:44pm Aug 19, 2012 1:44pm
To the newbies: The majority of WORLD Platinum production comes out of South African mines..

Thought this article interesting. If an entire year of supply was wiped out the spot price could rocket, and would be a steal at 1400 per ozt.

"Market Nuggets: Deutsche Bank: South African Labor Issues Could Wipe Out Expected 2012 Platinum Surplus
Friday August 17, 2012 11:34 AM

Despite soft demand for platinum, ongoing supply challenges potentially could push the platinum market into a deficit this year, says Deutsche Bank. In the first quarter, South African producers faced a large number of government-mandated work stoppages to improve safety. Now, Deutsche Bank says, labor-related problems have continued, particularly with tensions between two rival mine unions—the National Union of Mineworkers and the Association of Mining and Construction Workers Union. The battle for membership led to a strike at an Impala Platinum mine earlier this year and tensions seem to be increasing with violence at Lonmin's Marikana mining complex in recent days, Deutsche Bank says. Output at the latter has been halted. "If this latest round of inter-union rivalry to impact South African platinum production is similar in length to the Impala strike in Q1, Lonmin could lose 80–100koz of production in our view," Deutsche Bank says. "We continue to forecast a modest surplus in the platinum market, but depending on how long hostilities at Lonmin last and if the unrest spreads to other miners on the Western Limb, the surplus of c150koz could easily be wiped out."

By Allen Sykora of Kitco News"
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
29 traders viewing now