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

  • #32,121
  • Jan 24, 2014 8:03pm Jan 24, 2014 8:03pm
Why gold is up and silver is down?
  • #32,122
  • Jan 24, 2014 8:13pm Jan 24, 2014 8:13pm
Quoting trexy123
Why gold is up and silver is down?
Just like some of the traders here said, either Silver is underpriced or Gold upmove is fake. Which is which, I do not know.

Silver appear to be still stuck in a range, while Gold appear to make new high.

Silver is still resisted by 20.30. If not broken, we might see further ranging or down.
The true fact is market doesn't care, risk mgt is important.
  • #32,123
  • Jan 24, 2014 8:23pm Jan 24, 2014 8:23pm
Quoting Ssm
{quote} Just like some of the traders here said, either Silver is underpriced or Gold upmove is fake. Which is which, I do not know. Silver appear to be still stuck in a range, while Gold appear to make new high. Silver is still resisted by 20.30. If not broken, we might see further ranging or down.

http://i1116.photobucket.com/albums/...ps5b031115.jpg
The true fact is market doesn't care, risk mgt is important.
  • #32,124
  • Jan 24, 2014 11:06pm Jan 24, 2014 11:06pm
Silver is and has been overprice for many years. Yet, Gold's upmove is not "fake" that's just ridiculous. It's not even a HUNDRED bucks up yet.

probably some angry bear that got burnt on a short. But when people who were out of the market at the time like myself see gold fall almost 100 USD in a DAY and the sum total of around 250 USD in three and call manipulation, other's say OH NO.

Silver is largely manipulated by JPM the custodian of the ETF SLV. Their have been interviews with trader's at JPM about this very thing in London, saying it was "just too easy, we had the money to back us and could easily move the market, so why not? Our job was goals and making money any way!" loosely quoted.

This is a whole other discussion. Eventually 20 USD will be a thing of the way past. Just like 7 was a bargain at the time it happened after a slide from over 15 USD.
NOT A DEALER IN THE entire country would take an order because the shortage was massive. I waited 6 months for a well over 59 oz t silver bar order to come, made by the dealer that mint's their own products, they own mine/s....

In any case going to comment on your other post first but - FIRST First is dropping a bomb from my buddy here. / next post

Quoting Ssm
{quote} Just like some of the traders here said, either Silver is underpriced or Gold upmove is fake. Which is which, I do not know. Silver appear to be still stuck in a range, while Gold appear to make new high. Silver is still resisted by 20.30. If not broken, we might see further ranging or down.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,125
  • Edited Jan 25, 2014 8:54am Jan 24, 2014 11:09pm | Edited Jan 25, 2014 8:54am
Begin "

XTrade

You may want to post this article from my colleague Andy Maguire which tells what is happening in the REAL gold market – the London physical market.

There has been so much ignorant rubbish spouted on your thread recently that this might get people thinking a bit – particularly those who make comments carefully worded so that it sounds as though they have some insight and that any resulting move makes it appear they know what they are talking about.....

http://kingworldnews.com/kingworldne...es_Shorts.html

Ben (beeb in the Commercial Section) END "


BEEB - Nice to know you are stopping in and thanks for sharing this. Yes the ignorance level does get high at times and I just had to ban someone...
Thanks for sharing this with us. Hopefully it won't go un-read.. Actually I will just repost it if it does !!! LOL
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,126
  • Jan 25, 2014 6:01am Jan 25, 2014 6:01am
Silver is not as strong as gold.
Is that telling you anything ?
  • #32,127
  • Jan 25, 2014 6:24am Jan 25, 2014 6:24am
Quoting XTrade
{quote} These two posts are Great! Notice in graph one the US is NOT EVEN on the LIST!!! Then in the second post graph 1 about scrap gold exports. Notice 2009 when price was at peak levels and everywhere there was (IN THE US) every other TV commercial etc was a place that was looking to "fleece" the unknowing public of their prize heirlooms and such for what they called "the highest prices in gold history" Sure there was the ALL time high, so it wasn't all a big lie. The lie was the "rub" where an ozt of 14Karat gold which I forget how much I think...
i got plenty of those paperflyer in 2011 and 2012... since 2013 there are less flyer or commercials in the newspaper.

i forgot the grafic world total scrap, and wow it´s also declining, a sign for me that the physical demand is high no matter where the paperprice is!

http://srsroccoreport.com/is-the-u-s...of-gold-scrap/
Attached Image (click to enlarge)
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just do it
  • #32,128
  • Jan 25, 2014 6:33am Jan 25, 2014 6:33am
Quoting XTrade
{quote} 50% fibonancy of what? ____Fibonacci______ but seriously of what?
50% fibo of 3 wave i think

If next daily candle close under 1270 (bottom wave 1) i go down (wave 5),
maybe it will reach 50% fibo from 250 to 1900 ?

Attached Image (click to enlarge)
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  • #32,129
  • Jan 25, 2014 8:32am Jan 25, 2014 8:32am
Quoting Mrdj
{quote} 50% fibo of 3 wave i think If next daily candle close under 1270 (bottom wave 1) i go down (wave 5), maybe it will reach 50% fibo from 250 to 1900 ? {image}
Since I am bullish on gold, I found this little article very interesting. Apparently gradual pick up is on the cards as investors, particularly Japanese, are avoiding futures and buying physical gold instead. China New Year is another major factor.

http://www.fxempire.com/fundamental/...2014-forecast/
  • #32,130
  • Jan 25, 2014 8:51am Jan 25, 2014 8:51am
Quoting Mrdj
{quote} 50% fibo of 3 wave i think If next daily candle close under 1270 (bottom wave 1) i go down (wave 5), maybe it will reach 50% fibo from 250 to 1900 ? {image}

Don:t Use EW - Yet if you are unsure I would check, also I would use a bit more of a daily close below 1270 to base my trading direction off of.

Like maybe thinking about the FOMC even if you don't trade off of news. Gold is alway subject to it.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,131
  • Jan 25, 2014 8:57am Jan 25, 2014 8:57am
Quoting XTrade
{quote} 50% fibonancy of what? ____Fibonacci______ but seriously of what?
50% fibo from 1353 to 1191, look at daily line chart.
  • #32,132
  • Jan 25, 2014 9:03am Jan 25, 2014 9:03am
Quoting Mrdj
{quote} 50% fibo of 3 wave i think If next daily candle close under 1270 (bottom wave 1) i go down (wave 5), maybe it will reach 50% fibo from 250 to 1900 ? {image}
rising wedge turn to falling wedge, btw stochastic reading in daily chart is overbought.
  • #32,133
  • Jan 25, 2014 9:36am Jan 25, 2014 9:36am
Quoting XTrade
{quote} Don:t Use EW - Yet if you are unsure I would check, also I would use a bit more of a daily close below 1270 to base my trading direction off of. Like maybe thinking about the FOMC even if you don't trade off of news. Gold is alway subject to it.
XT Sir, would you tell us the possible impact of Gold for this coming FOMC?
The true fact is market doesn't care, risk mgt is important.
  • #32,134
  • Jan 25, 2014 10:05am Jan 25, 2014 10:05am
Quoting XTrade
Begin " XTrade You may want to post this article from my colleague Andy Maguire which tells what is happening in the REAL gold market – the London physical market. There has been so much ignorant rubbish spouted on your thread recently that this might get people thinking a bit – particularly those who make comments carefully worded so that it sounds as though they have some insight and that any resulting move makes it appear they know what they are talking about..... http://kingworldnews.com/kingworldne...es_Shorts.html...
Thank you BEEB, very interesting!
just do it
  • #32,135
  • Jan 25, 2014 7:40pm Jan 25, 2014 7:40pm
I didnt get the upward move on friday . My limit buy was at 1255
  • #32,136
  • Jan 25, 2014 8:38pm Jan 25, 2014 8:38pm
Quoting The Rhodie
{quote} This is quite bullish for a day run. I imagine market may test 1265, so I hope you're prepared to lose that amount of money in the wrong direction. It's not that far from 1300, so there's psychology that says market may even test that! It may not be today, but that is a possibility. We will see.
Quoting XTrade
I gotta say guys I really don't get you with these shorts sometimes. It just corrected on a five week long uptrend which formed the double bottom at 1187 and 1180) - down 20 bucks into the 1235s. got rejected twice ranged for almost 24 hours in that area did not fall, Net longs are up in futures, you know "physical demand" is High in London markets Why would the price just drop another 20 bucks off 1250 + down to where it just was? Can someone explain the purpose of the trade here? or are you guys just looking for range. And the poor kid that thought...

It's a pity to miss the big part of this long since I longed it at the rejection of the daily 20. I was in 1233 and out at 1245 and shorted believing it would make a similar move like 02.08.2013-08.08.2013 to fake more people but it didn't.I changed my mind when it broke 1248 but then I was stopped out
Now it seems to have a daily 20-50 crossup which seems quite bullish.But I'm not in a hurry.If this will continue bullish It will make a sharp pullback ( similar pullback to 12.08.2013-15.08.2013) to around 124x in the next week probably with a major data release .After that news it will be nice to long it if it stays above the daily 20.Will post it when it happens.
Attached Image (click to enlarge)
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  • #32,137
  • Edited 5:55am Jan 26, 2014 5:44am | Edited 5:55am
Quoting nicefirework
{quote} 50% fibo from 1353 to 1191, look at daily line chart.
Actually NO 0

His exact words were "50% fibo of 3 wave i think"

See above.

Furthermore, 1353 to 1190 is not a valid fibo pull on the daily. Or rather just not important. Not big enough of a swing.

Try 1920 to 1190 you want high to low and targets in between - or 1750 and / or 1550 to 1190 range tops of northern price before downswings to low 1190
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,138
  • Jan 26, 2014 5:53am Jan 26, 2014 5:53am
Advice,
Anytime Gold Comes to a half point of that Hundred should be "wait and see time" depending on the Price action.
Here, the PA was supporting a break, it tested it two or three times over a few days then on the last test it crushed it, resulting in a weekly high of basically 1270.

Point is - unless you need to take profit, or it is suggesting it will reverse, always better to wait it out and see if the 50 can indeed be flipped in your direction for further setups and a nice trade.

Looking at the past with Gold and Silver can be helpful, especially how it reacted at support and resistance, but using specific price action of past days is not and
can be a bit dangerous in my very honest opinion.

The reason why is due to news, market sentiment, and fundamentals, as time goes by, these things, will not be repeated like the price simply moves because it has to
For instance, it's not like we are going to start a new QE3 tomorrow, tapering has begun, and if we did it would be QE4 --- Unemployment (US) helped the technical gains last week, yet, that unemployment number and day will never happen again. Yet the price is able to go back into that area. But compare last thursday with another day coming up and everything can change. Even if you did two NFPs one could be good and one bad, both will reflect in golds price, but just looking at the PA does not tell you this.

So, just keep in mind there's always or usually a story behind the price movements. That's all for now!

Hope it helps a bit!
Thanks,
XT-

Quoting okanemici
{quote} {quote} It's a pity to miss the big part of this long since I longed it at the rejection of the daily 20. I was in 1233 and out at 1245 and shorted believing it would make a similar move like 02.08.2013-08.08.2013 to fake more people but it didn't.I changed my mind when it broke 1248 but then I was stopped out Now it seems to have a daily 20-50 crossup which seems quite bullish.But I'm not in a hurry.If this will continue bullish It will make a sharp pullback ( similar pullback to 12.08.2013-15.08.2013) to around 124x in the next week...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,139
  • Jan 26, 2014 9:01am Jan 26, 2014 9:01am
Hi!

I just signed up, and this is my first post. I trade xau/usd, and right now, i'm building a short position bearing in mind that there is trendline resistance at 1270ish, a 32.8 fib from the august top to the december bottom, and the 150 dma just below 1280. I'm short from 1270, will short more at 1275 and 1280, with initial stops at 1285. I think this is a great opportunity with a good risk ratio. I'll iniciate a long position only after a consistent break of these levels.
  • #32,140
  • Jan 26, 2014 9:06am Jan 26, 2014 9:06am
okanemici,i dont think so, The rate will bull sharp to 1280 before decide to sw and back to 1245
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