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

  • #30,901
  • Dec 22, 2013 12:24pm Dec 22, 2013 12:24pm
Nice trading mate!

Yeah that sub 1200 grab might turn out to be the biggest discount shopping as the new year comes closer and closer.

This week may have some decent swings as the market will be mainly DEAD on volume.

Be careful!

Quoting Mitchoss
{quote} Still holding all positions listed above. Gold had a crack at 1210 prior to retreating to 1200, however we did not break down and the selling was not as aggressive as I thought it would be. Current PA (in my opinion) should retest 1220, retreat to 1210 and then will decide where to go from there. Silver played out and retested the 19.46 I was targeting and retreated to 19.3 which was been a minor support in the past and seems to have held for the close. Monday I would expect to see us dip back to 19.3 to get a run up for another attempt...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,902
  • Dec 22, 2013 3:31pm Dec 22, 2013 3:31pm
pretty decent buyer's tail at swing low.
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  • #30,903
  • Dec 22, 2013 5:01pm Dec 22, 2013 5:01pm
We'll see what happens! I am expecting to see another battle at 1200(ax) and 19.30(ag). where we go from there who knows!

Good luck to all, dont burn yourselfs out before christmas! Nobody wants to be grumpy on christmas !!


Quoting XTrade
Nice trading mate! Yeah that sub 1200 grab might turn out to be the biggest discount shopping as the new year comes closer and closer. This week may have some decent swings as the market will be mainly DEAD on volume. Be careful! {quote}
  • #30,904
  • Dec 22, 2013 5:03pm Dec 22, 2013 5:03pm
Quoting Mitchoss
We'll see what happens! I am expecting to see another battle at 1200(ax) and 19.30(ag). where we go from there who knows! Good luck to all, dont burn yourselfs out before christmas! Nobody wants to be grumpy on christmas !! {quote}
2000%. you are a monster. teach us. lol.
  • #30,905
  • Dec 22, 2013 5:15pm Dec 22, 2013 5:15pm
Quoting Mitchoss
We'll see what happens! I am expecting to see another battle at 1200(ax) and 19.30(ag). where we go from there who knows! Good luck to all, dont burn yourselfs out before christmas! Nobody wants to be grumpy on christmas !! {quote}
On Sliver, we practically in reverse mode - the battle in my books at 20.50 ... this is the first obstacle against this move! What will happen there could lead to 25 or new yearly lows.
"It's the Margin, Stupid."
  • #30,906
  • Dec 22, 2013 5:27pm Dec 22, 2013 5:27pm
Like i said earlier, play the price action, dont be bias to the upside or downside. We are 'day traders', if you are looking for that 'buy low and hold for 10 years investment' this is not the game for you sorry.

I make more money on the downside, and always have. the drops are more brutal than the rallies since 2011. In saying that, I feel we are heading north once again and have opened my largest ever exposures to the upside with tight SL.

ps. I've been wrong many times , but on almost all time frames we are oversold, and I believe the market had already factored into the 'taper talk' and the drop was merely one last push down before a decent bounce. Time will tell!

Quoting faststare08
{quote} 2000%. you are a monster. teach us. lol.
  • #30,907
  • Dec 22, 2013 5:43pm Dec 22, 2013 5:43pm
Quoting Mitchoss
Like i said earlier, play the price action, dont be bias to the upside or downside. We are 'day traders', if you are looking for that 'buy low and hold for 10 years investment' this is not the game for you sorry. I make more money on the downside, and always have. the drops are more brutal than the rallies since 2011. In saying that, I feel we are heading north once again and have opened my largest ever exposures to the upside with tight SL. ps. I've been wrong many times , but on almost all time frames we are oversold, and I believe the market...

I reckon we'll be testing 1140-50 regions or lower before next bounce.
  • #30,908
  • Dec 22, 2013 6:00pm Dec 22, 2013 6:00pm
Quoting Mitchoss
Like i said earlier, play the price action, dont be bias to the upside or downside. We are 'day traders', if you are looking for that 'buy low and hold for 10 years investment' this is not the game for you sorry. I make more money on the downside, and always have. the drops are more brutal than the rallies since 2011. In saying that, I feel we are heading north once again and have opened my largest ever exposures to the upside with tight SL. ps. I've been wrong many times , but on almost all time frames we are oversold, and I believe the market...
Be careful mate. I am impressed with your trading record so far. Will be interesting to see your results in 6 months time.
If Gold was to turn North at this point it, to my way of reading the charts this would be a truncated wave 5. My indicators are far from over sold. I still see at least 1160 before the turn.
I am expecting a drop to 1198 today before the US session.
Money Makes Money
  • #30,909
  • Dec 22, 2013 6:09pm Dec 22, 2013 6:09pm
I'm with you on a drop before US session, I will be deciding what to do after watching the PA at 1200. If we have little resistance on the push down I will be hesitant to stay long, and rather open fresh longs at lower prices.

My RSI, MACD and Stoch are all showing oversold (my periods are shaped for my trading style)

Quoting KiwiOz
{quote} Be careful mate. I am impressed with your trading record so far. Will be interesting to see your results in 6 months time. If Gold was to turn North at this point it, to my way of reading the charts this would be a truncated wave 5. My indicators are far from over sold. I still see at least 1160 before the turn. I am expecting a drop to 1198 today before the US session.
  • #30,910
  • Dec 22, 2013 6:47pm Dec 22, 2013 6:47pm
Interesting price action ahead.

Will 1200-1198 hold or will the bears start taking this to sub 1180 this week?

Clearly fresh longs were added on Thursday/Friday from 1186-1201 levels.

Maybe these positions will be be used to help create momentum for targeting sub 1180 as they start unwinding when the downside prevails.

Yes, I'm Bearish and the weekly close on Friday was an even bigger signal.
Trade with what you see, not what you feel.
  • #30,911
  • Dec 22, 2013 7:41pm Dec 22, 2013 7:41pm
Approaching 19.30 and 1200, be interesting to see what happens here

I have closed 2/4 longs from Gold, still holding 1 @ 1900, 1 @ 1202. I wanted to reduce my exposure at the 1200 level incase we get a sudden dip.
Still holding all longs on silver from 19.2
  • #30,912
  • Dec 22, 2013 9:10pm Dec 22, 2013 9:10pm
Why was a failure of sub 1180 break and a +15 USD move north cracking back above 1200 a big "bearish signal" to you?
I'm just curious as to how you are looking at this.

To me it would have been when the price was lurking around 1190 and broke 1180 then 1180 was rejected on re-test.


New Year, New Money, New Positions all coming.

Keep in mind all the Bank Holidays below:




Quoting Basement
Interesting price action ahead. Will 1200-1198 hold or will the bears start taking this to sub 1180 this week? Clearly fresh longs were added on Thursday/Friday from 1186-1201 levels. Maybe these positions will be be used to help create momentum for targeting sub 1180 as they start unwinding when the downside prevails. Yes, I'm Bearish and the weekly close on Friday was an even bigger signal.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,913
  • Dec 22, 2013 9:14pm Dec 22, 2013 9:14pm
another reason I've reduced my exposure is due to bank holidays and low volume high swings could easily be thrown in the mix, but im hopefull that I have positioned myself at some sort of reversal (short or long lived) for the new year.

Whats your current sentiment Xtrade? I'm curious how you positioned if you dont mind me asking.

Mitch
Quoting XTrade
Why was a failure of sub 1180 break and a +15 USD move north cracking back above 1200 a big "bearish signal" to you? I'm just curious as to how you are looking at this. To me it would have been when the price was lurking around 1190 and broke 1180 then 1180 was rejected on re-test. New Year, New Money, New Positions all coming. Keep in mind all the Bank Holidays below: {quote} {image}
  • #30,914
  • Dec 22, 2013 9:33pm Dec 22, 2013 9:33pm
gold is headed lower, we in india r not so optimistic abt it at least for the next week or so.
  • #30,915
  • Dec 22, 2013 9:44pm Dec 22, 2013 9:44pm
Even if gold hits 1150 and 1100 (just as rounded area using 1/4) then turns around the move will fueled more on fundamentals than technical indicators.

Keep in mind indicators can only do their job after the price moves. Price moves on various reasons - tecnically, fundamentally, News, S/R S/D, etc.

I would just stay out this week unless you have some positions already and

ENJOY THE HOLIDAYS! Also NEW YEARS DAY is not on my list of bank holidays obviously - but it's still another close coming day off.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,916
  • Dec 22, 2013 9:45pm Dec 22, 2013 9:45pm
Quoting XTrade
Why was a failure of sub 1180 break and a +15 USD move north cracking back above 1200 a big "bearish signal" to you? I'm just curious as to how you are looking at this. To me it would have been when the price was lurking around 1190 and broke 1180 then 1180 was rejected on re-test. New Year, New Money, New Positions all coming. Keep in mind all the Bank Holidays below: {quote} {image}
Of course

I see that 1180 has not been tested properly yet.
I see that the weekly close on Friday was the lowest in a long time.
I see that we are still in a downtrend.

The +15 USD move north was bullish and could well have been driven by shorts closing.

Until I see that we break and hold above 1222 for instance my bias remains the same.

In the short term I am expected a move towards 1210-1215 before we head down to test 1180 again.

I'm currently Long from 1200.7 with a 1214 target.
Trade with what you see, not what you feel.
  • #30,917
  • Dec 22, 2013 10:08pm Dec 22, 2013 10:08pm
Quite alright,
I usually drop them in every bunch of post or so, since you've been away this is,

Basically where I'm at and why works like this.

I grabbed longs around 1190, 1200 and plus, got a Nice ride to about 1400, but couldn't crack it even on poor US data and without any
news on QE ending it seemed it might not yet be the correct time to start really holding longer term positions. So I flattened some around 1380 on the way on trigger, then we started squabbling between 1350 to 1250 for months (sept / nov) even tighter at times. Here is where I just used news and support and resistance to
trade the range mainly taking some shorts at the highs due to mid term trend still being down, but using support again for longs and any poor data.

Next, End Nov - Dec range tightens a few scalps, yet looking at the reasoning, there are little clues for many adverse reactions to price, news and fundies.
So, it seemed, and I made a lengthy post which is now linked in post one on QE tapering - that it would be foolish to get too heavily short expecting a massive
initial drop - due to the fact that it was likely already mostly priced into gold. Tapering is finally announced- AND we got a mere drop, yet it did produce the move recently back into the 1180s.

So, naturally on the re-test of the months old low I grabbed some longs again around 1190+ looking at the possibility of a double bottom but more so just an end of
year trade.

If the price ranges into New Year I will hold (or just see if my stop gets hit not manning the screen ) and see if it has indeed bottomed and it is time for it to start technically correcting the move from 1920 to 1180 which my target NO. ONE - for longer term trades is 1500/50.
OR,
If 1200 and 1180 both get cracked, and firmly flipped into resistance I'll look at the possibility of newer low targets sort of like this:
1180 -> 1150 -> 1100. Then, around 1115 give or take ten, will have to get rejected solidly to break into the 1000's which my price range gets even tighter,
Keys right now are 1080 and 1050 as the bottom if that way actually pans out. Wont even look at 1000 right now.


Quoting Mitchoss
another reason I've reduced my exposure is due to bank holidays and low volume high swings could easily be thrown in the mix, but im hopefull that I have positioned myself at some sort of reversal (short or long lived) for the new year. Whats your current sentiment Xtrade? I'm curious how you positioned if you dont mind me asking. Mitch {quote}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,918
  • Dec 22, 2013 10:19pm Dec 22, 2013 10:19pm
We are on the same page I like that.

Mind you none of my trades will be held for an extensive period of time, UNLESS we see a surge through 20.50 on silver, a retreat and great bounce off 20.50 flipping it into support. Similarly in gold, a break out and re-test of 1250 flipping it to support.

Quoting XTrade
Quite alright, I usually drop them in every bunch of post or so, since you've been away this is, Basically where I'm at and why works like this. I grabbed longs around 1190, 1200 and plus, got a Nice ride to about 1400, but couldn't crack it even on poor US data and without any news on QE ending it seemed it might not yet be the correct time to start really holding longer term positions. So I flattened some around 1380 on the way on trigger, then we started squabbling between 1350 to 1250 for months (sept / nov) even tighter at times. Here is where...
  • #30,919
  • Dec 22, 2013 11:07pm Dec 22, 2013 11:07pm
Makes sense now

Agree that there are a lot of immediate levels that either need to be broken and flipped to resistance or flipped to support,

before a bear run resumes to end
or
bull run begins and retraces.


Quoting Basement
{quote} Of course I see that 1180 has not been tested properly yet. I see that the weekly close on Friday was the lowest in a long time. I see that we are still in a downtrend. The +15 USD move north was bullish and could well have been driven by shorts closing. Until I see that we break and hold above 1222 for instance my bias remains the same. In the short term I am expected a move towards 1210-1215 before we head down to test 1180 again. I'm currently Long from 1200.7 with a 1214 target.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,920
  • Dec 23, 2013 12:22am Dec 23, 2013 12:22am
Back above NY Close by .10 Cents.
like 10 minutes ago.........oops!...
lol
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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