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

  • #31,741
  • Jan 17, 2014 7:37am Jan 17, 2014 7:37am
From October last year I have considered gold to be quite bearish. My outlook was limited to 20th Jan before the market was worth reconsidering. It is looking more and more bullish as time goes on so that means that globally the demand for more financial security is increasing= gold price rises. At the same time inflationary pressures are ensuring gold prices decrease = gold rangbound.

What do you all think?
You win, you lose. All else is history. The future does not exist.
  • #31,742
  • Jan 17, 2014 7:45am Jan 17, 2014 7:45am
Quoting The Rhodie
From October last year I have considered gold to be quite bearish. My outlook was limited to 20th Jan before the market was worth reconsidering. It is looking more and more bullish as time goes on so that means that globally the demand for more financial security is increasing= gold price rises. At the same time inflationary pressures are ensuring gold prices decrease = gold rangbound. What do you all think?
Your comment has curious timing. I've spent the last 4 or 5 hours going over the 4H, 8H, Daily, Weekly and Monthly charts.

The 4H, 8H and Daily all show signs of going north. Even though (at first glance) the Weekly and Monthly have been bearish, I can't help thinking that they are also turning.

I placed a small long at 1241, and I have some other longs that have been running at a loss but are slowly turning green.

It's a volatile arena for me.
  • #31,743
  • Jan 17, 2014 7:48am Jan 17, 2014 7:48am
Quoting PIPot
still holding shorts target 1195
Yes, I've just added to shorts at 1249. Resistance seems fairly strong, though I would welcome an extension higher so I can add more shorts. First target is 1188
"The market can remain irrational longer than you can remain solvent"
  • #31,744
  • Jan 17, 2014 7:56am Jan 17, 2014 7:56am
Yes, I've just added to long at 1240 . First target is 1266, 2nd target is 1314.
  • #31,745
  • Jan 17, 2014 8:10am Jan 17, 2014 8:10am
Quoting anton.olff
{quote} Yes, I've just added to shorts at 1249. Resistance seems fairly strong, though I would welcome an extension higher so I can add more shorts. First target is 1188
  • #31,746
  • Jan 17, 2014 8:11am Jan 17, 2014 8:11am
Quoting Uglybug
{quote} Your comment has curious timing... The 4H, 8H and Daily all show signs of going north.... I have some other longs that have been running at a loss but are slowly turning green. It's a volatile arena...
You win, you lose. All else is history. The future does not exist.
  • #31,747
  • Jan 17, 2014 8:12am Jan 17, 2014 8:12am
Quoting Ulterior
{quote}

You win, you lose. All else is history. The future does not exist.
  • #31,748
  • Jan 17, 2014 8:15am Jan 17, 2014 8:15am
Quoting The Rhodie
{quote}
  • #31,749
  • Jan 17, 2014 8:15am Jan 17, 2014 8:15am
Quoting anton.olff
{quote} Yes, I've just added to shorts at 1249. Resistance seems fairly strong, though I would welcome an extension higher so I can add more shorts. First target is 1188
IMO you missed the boat about 6 months ago.
You win, you lose. All else is history. The future does not exist.
  • #31,750
  • Jan 17, 2014 8:19am Jan 17, 2014 8:19am
noobs like the rodies are long today

will get out from my longs ASAP as it hits 1255
  • #31,751
  • Jan 17, 2014 8:23am Jan 17, 2014 8:23am
Quoting Ulterior
noobs like the rodies are long today will get out from my longs ASAP as it hits 1255
Considering my longs are now $40 away from my entries, I think that is a bit personal and uninvited.
You win, you lose. All else is history. The future does not exist.
  • #31,752
  • Jan 17, 2014 8:35am Jan 17, 2014 8:35am
Quoting The Rhodie
{quote} Considering my longs are now $40 away from my entries, I think that is a bit personal and uninvited.
oh forgive me master
  • #31,753
  • Edited 8:35am Jan 17, 2014 8:35am | Edited 8:35am
XAUUSD 1H

Time to short...?
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 1H.png Size: 13 KB
  • #31,754
  • Jan 17, 2014 8:37am Jan 17, 2014 8:37am
Quoting Ulterior
noobs like the rodies are long today will get out from my longs ASAP as it hits 1255
IMO, 1250 is still heavily defended by the bears. Just look at the numbers of rejection at that level.

PS: Not vested, staying out as I am unsure of the trend at the moment.
The true fact is market doesn't care, risk mgt is important.
  • #31,755
  • Jan 17, 2014 8:46am Jan 17, 2014 8:46am
Quoting Ulterior
noobs like the rodies are long today will get out from my longs ASAP as it hits 1255

Newbs are long today?

You mean proper traders who know their shit are long today, H4 bullish candles, rejecting upward trend line, double bottom and 1-2-3 reversal pattern, weekly bullish engulfing, looks like the monthly could close as a 2 bar reversal if the up move continues... newbs are entering short today you meant to say

I am right 80% of the time... and this time I am nearly sure I am right.

Check - https://www.tradingview.com/u/PAGuy/#published-charts
insideBars==boss
  • #31,756
  • Jan 17, 2014 9:41am Jan 17, 2014 9:41am
Quoting Ssm
{quote} IMO, 1250 is still heavily defended by the bears. Just look at the numbers of rejection at that level. PS: Not vested, staying out as I am unsure of the trend at the moment.
Short term trend is definitely up, its been up since the beginning of the year, a basic 5 wave sequence is clearly visible on the daily.
"Where you want to be is always in control, never wishing, always trading.
  • #31,757
  • Jan 17, 2014 9:52am Jan 17, 2014 9:52am
Ahh exciting. Will it break above 1250? haha
  • #31,758
  • Jan 17, 2014 10:26am Jan 17, 2014 10:26am
Quoting Ulterior
{quote} oh forgive me master

  1. Age:
  2. 33 years old

  1. Occupation:
  2. Inexpirienced Economist

  1. Trading Style(s):
  2. Fundamental Analyst, Technical Analyst

  1. Favorite Trading Book:
  2. When Genius Failed: The Rise and Fall of Long-Term Capital Management (Amazon)

  1. Biography:
  2. Trading everything that moves

Ok, I think we get the picture...

You win, you lose. All else is history. The future does not exist.
  • #31,759
  • Jan 17, 2014 10:28am Jan 17, 2014 10:28am
Long TP 1 Hit
insideBars==boss
  • #31,760
  • Jan 17, 2014 10:29am Jan 17, 2014 10:29am
With severe weakness in the YEN aganst all crosses, it may be very bullish for gold. The only problem with that is that USD is simultaneously weak and therefore many investors are moving out of bonds into metals. I presume that may mean that gold will rise in value.
You win, you lose. All else is history. The future does not exist.
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