XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1025 | Crypto Craft

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

  • #20,481
  • Aug 23, 2012 7:42am Aug 23, 2012 7:42am
Quoting tradechamp
Do you also ride the retracement? I hope you're right where it suppose to retrace, coz I'm short with XAU right now. )
No, I won't attempt riding this retracement/consolidation yet. Closed my long. Will wait and see how the housing data coming out later this morning plays out and then head out to my full time job in the transport sector.
  • #20,482
  • Aug 23, 2012 8:00am Aug 23, 2012 8:00am
Quoting lilpip
Silver says shes ready as she moves above 28.35-42.
Will her retest of 28.35-42 area hold ?
Eyes open.
eyes on 30.38-45 response .
Will she hold or sell off ?
  • #20,483
  • Aug 23, 2012 8:16am Aug 23, 2012 8:16am
I see silver going down after 30.55
  • #20,484
  • Aug 23, 2012 8:21am Aug 23, 2012 8:21am
Quoting Paras4you
I see silver going down after 30.55
timescales + reasons please

beeb
  • #20,485
  • Aug 23, 2012 8:43am Aug 23, 2012 8:43am
Quoting beeb
timescales + reasons please

beeb
it don't look too good for my trade.
Attached Image (click to enlarge)
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  • #20,486
  • Aug 23, 2012 8:44am Aug 23, 2012 8:44am
Quoting tradechamp
Do you also ride the retracement? I hope you're right where it suppose to retrace, coz I'm short with XAU right now. )

The prevailing trend is up now, although some could argue on larger time frames that it is still down, we are at the pivot now and it seems to have gone through.

You should never really bet against the direction of the trend. It is far better to buy on dips rather than trying to guess where the turn will be. I have done that before and would rather not dwell on my rather large losses.

That said, if you are going to go short now it is probably not a bad time technically because we are at resistance but you are still going against the tide.
  • #20,487
  • Aug 23, 2012 9:12am Aug 23, 2012 9:12am
Quoting longshot_nl
it don't look too good for my trade.
looks a bit better, added short, new homesales better then expected.
  • #20,488
  • Aug 23, 2012 10:34am Aug 23, 2012 10:34am
Quoting longshot_nl
looks a bit better, added short, new homesales better then expected.
Hey longshot....

We disagree but we don't argue - remember

beeb
  • #20,489
  • Aug 23, 2012 10:46am Aug 23, 2012 10:46am
Quoting beeb
Hey longshot....

We disagree but we don't argue - remember

beeb
sounds good to me.



but i am interested in your view none the less.
  • #20,490
  • Aug 23, 2012 10:46am Aug 23, 2012 10:46am
Quoting uksnowman
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?
Well the breakout came thick and fast. GU longs doing nicely too! Here is a zoomed in chart of Gold breakout which I know I am not alone in observing.

One of the analysts at Forexlive thinks this could be a fakeout rather than breakout : http://www.forexlive.com/blog/2012/0...t-or-breakout/

However, if current daily stays around similar levels as it is now it would be a very bullish 3 white soldiers formation so I would not be considering this move as a fakout.

I am not as familiar with the behaviour of gold as with the major fx pairs, but typically there should be a retest of the breakout area at point A. Alternatively, point B retest could be another area of interest. 1704.3 horizontal resistance could be a pause for breath and good place for TP (I don't trade gold yet, but interested to see developments).
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  • #20,491
  • Aug 23, 2012 10:49am Aug 23, 2012 10:49am
GC 20 - A bit steep but working well....

http://www.screencast.com/t/Prods3Cs5f

beeb
  • #20,492
  • Aug 23, 2012 11:07am Aug 23, 2012 11:07am
Quoting beeb
GC 20 - A bit steep but working well....

http://www.screencast.com/t/Prods3Cs5f

beeb
silver 5m
Attached Image (click to enlarge)
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  • #20,493
  • Aug 23, 2012 11:14am Aug 23, 2012 11:14am
Not sure why people are shorting this?

Another 20+ day and another move up.. remeber we started at what 1610 only a few days ago...

http://www.kitco.com/images/live/nygold.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,494
  • Aug 23, 2012 11:15am Aug 23, 2012 11:15am
longshot it looks like you are selling at good buy points, ie: broken supports. and tests.

what are you expecting?

Quoting longshot_nl
silver 5m
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,495
  • Aug 23, 2012 11:32am Aug 23, 2012 11:32am
Quoting XTrade
longshot it looks like you are selling at good buy points, ie: broken supports. and tests.

what are you expecting?
it just looks that way.
I keep my trades with profit or till my stops are triggered.
The bottom short was a good setup which i posted here.
The top trade i traded the news.
Like i said, i won't close them becouse of a bit of sentiment.

edit: I don't trade 5m timeframe.
  • #20,496
  • Aug 23, 2012 11:39am Aug 23, 2012 11:39am
Yeah I noticed that after, looked like a longer term chart at glance...

So you are not far in the hole. There should be a dip, when, probably Friday.

Quoting longshot_nl
it just looks that way.
I keep my trades with profit or till my stops are triggered.
The bottom short was a good setup which i posted here.
The top trade i traded the news.
Like i said, i won't close them becouse of a bit of sentiment.

edit: I don't trade 5m timeframe.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,497
  • Aug 23, 2012 11:54am Aug 23, 2012 11:54am
I understand and think it's great that you stick to your trades,

I am just trying to understand why you haven't been riding longs all week?

I suppose hence the name longshot NL!

Quoting longshot_nl
it just looks that way.
I keep my trades with profit or till my stops are triggered.
The bottom short was a good setup which i posted here.
The top trade i traded the news.
Like i said, i won't close them becouse of a bit of sentiment.

edit: I don't trade 5m timeframe.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,498
  • Aug 23, 2012 11:59am Aug 23, 2012 11:59am
Quoting longshot_nl
silver 5m
Not sure where your A is on that chart...

Am following this 20min SI :

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

beeb
  • #20,499
  • Aug 23, 2012 12:12pm Aug 23, 2012 12:12pm
Quoting XTrade
I understand and think it's great that you stick to your trades,

I am just trying to understand why you haven't been riding longs all week?

I suppose hence the name longshot NL!
I am not specialized in silver i trade any pair.
I stumbled upon this silver setup.
I go watch some TV, cu later!
  • #20,500
  • Aug 23, 2012 1:43pm Aug 23, 2012 1:43pm
Hi all came across this thread new to commodities reading a bit bout the trades here very helpful.
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