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

  • #32,461
  • Feb 8, 2014 1:19pm Feb 8, 2014 1:19pm
another chart which thinks rally will start soon.
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  • #32,462
  • Feb 9, 2014 3:05am Feb 9, 2014 3:05am
EmirFas1, I believe your channel is going to be completed and gold is coming down to make new low. Trend is always right.
  • #32,463
  • Feb 9, 2014 3:45pm Feb 9, 2014 3:45pm
Strong close, let's see what Aussie / Asia does just for fun~
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,464
  • Feb 9, 2014 3:58pm Feb 9, 2014 3:58pm
Quoting XTrade
Strong close, let's see what Aussie / Asia does just for fun~
Xtrade hi,

Whats your opinion for the week it starts?

Do you believe the long scenario?

thanks in advance
The good thing with the future is that it is progressively approaching...
  • #32,465
  • Edited 7:05pm Feb 9, 2014 6:58pm | Edited 7:05pm
Due to data protection leaks in the Big Bank industry, there is likely to be substantial loss of faith in currencies. This could be bad for gold. For those of you wondering what I'm on about, look at this: http://www.theguardian.com/business/...cammers-report and it is only the tip of the iceberg. Expect huge upheavals in the markets in the coming months. This is one of those market things that causes Tsunami sized trades to occur randomly and could lead to runs on banks.

As the news of the data leaks become common knowledge, then people are going to begin withdrawing their investment in those banks which would likely cause investment to rise in other areas like property. This could lead to another property bubble developing and the market setting up for an almighty fall. Many investors would like to keep their cash safe in a haven like an offshore account in another country, but the smart people will buy LAND and own it outright. Land, like bitcoin is in limited supply and the creation of new land is advancing at a very slow rate. With Global warming even a negative rate, meaning that land is a better currency than anything else. Land is the source of all wealth. Property is one thing, but undeveloped land is completely different.

The reason that this could be bad for gold is that Barclays is one of the banks that sets the market price every day. The next thing is to see that the price fixing really is true, but from a different market perspective: trade volume and investment in long term reduced risk assets that are probably not that great or even dangerous. This could be a straw on a camels back that it really could do without if you get my meaning. Barclays is not alone. Watch for news of HSBC, and other banks... could be very interesting s this has been going on for years.

ADDENDUM:
If Barclays can do this, then forex and commodities trading companies could be involved and sell information to other brokers on market positions for forex traders too. The smaller the trader, the less likely they would be to get nailed for it. SEC and FSA need to check this out. Who can you trust when there are millions upon millions of dollars on the table for the taking, with legal loopholes all over the world...?
You win, you lose. All else is history. The future does not exist.
  • #32,466
  • Feb 9, 2014 8:32pm Feb 9, 2014 8:32pm
Quoting XTrade
Hi Buddy - OK Here's how it works. As a news trader FORGET ABOUT THE LAST MONTH - THE ACTION HAPPENS ON THE FORECAST being BEAT or NOT....... News trading is very "subjective" while at the same time being "objective" in your point of view - yet my first statement holds true. You did get a RISE in Unemployment via the NFP.................. The US data for the Unemployment RATE - stays basically the same. This is why we did not push through 1275 today. But I do like buying physical silver at anything less than 20.00 Hope this helps if not let me know....
Hi XT!

Just got back from a weekend getaway !

Yes this helps alot ! I do have a question about timing. When do you execute your trades ? Or rather, how do you determine if the time is right based from your experience? Do you normally enter your trades after "Cross sessions" ?? Or (for news forecast trading) like 5 hours before the expected news?

Also, how long do you normally hold your positions when trading forecasts?

Thank you !

Regards,
dric
  • #32,467
  • Feb 10, 2014 12:18am Feb 10, 2014 12:18am
Moving higher again after the BS attempt to sell gold on those crap NFP numbers.

Been making higher lows in Feb so far, looks like an ascending triangle to me.
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"Where you want to be is always in control, never wishing, always trading.
  • #32,468
  • Feb 10, 2014 1:30am Feb 10, 2014 1:30am
Quoting Spec_And
Moving higher again after the BS attempt to sell gold on those crap NFP numbers. Been making higher lows in Feb so far, looks like an ascending triangle to me. {image}
Here is the EW forcast for gold ...
now M1 scalping gold triangle after swing high .....
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  • #32,469
  • Feb 10, 2014 3:40am Feb 10, 2014 3:40am
damn. Wrong trend to my predict.
  • #32,470
  • Edited 6:03am Feb 10, 2014 6:02am | Edited 6:03am
Paraphrased from International Business Times

"Barclays will reveal this week that it made £5.2bn in 2013 amid a raft of mis-selling scandals and, most recently, the theft of 27,000 of its customers' data.
According to a brief statement to the London Stock Exchange, Barclays will publish its full year results on 11 February 2014 at 0700 GMT, and announce adjusted profit before tax for 2013 of £5.2bn (€6.3bn, $8.5bn) and statutory profit before tax of £2.9bn.
The adjusted profit before tax number for 2013 falls below the £5.4bn analysts' forecast.
In July last year, Barclays called on investors for help to fill a £12.8bn capital black hole.

The announcement comes a day after the bank admitted to launching an investigation into how 27,000 customers' data had been stolen and sold on the black market.

In June 2012, Barclays became the first bank to settle with US and UK authorities over Libor fixing. Since then, it has settled with European authorities over the same allegations."

Amazing that they did that, because that points a finger to the fact that they knew there was this ongoing scandal in their bank, but it is actually industry wide. The problem is proving it. Evidence needs to be brought to light to actually fine them and jail the culprits. We all know that bankers and traders are mostly con merchants with a huge appetite for money and largesse at the expense of their investors. How much money have you invested in trading and actually been successful at earning off it? I'll wager that there are less than one in 25000 who are continuously successful after 3 years in the action. That is the leverage of failure against the success in trades. Unless you are prepared to lose everything, trading is a huge risk to your long term position if you do not manage your risk properly. Money management is paramount.

Watch gold sell of now. In one hour it has not been able to breach 1273.8. Bears in control. If it does break up, then it's really going after 1278.
You win, you lose. All else is history. The future does not exist.
  • #32,471
  • Feb 10, 2014 6:10am Feb 10, 2014 6:10am
Ranging upside & sideaway
Also no fundamental noise for today, possible short a little
http://www.forexfactory.com/webkit-f...EB2/image.tiff
  • #32,472
  • Feb 10, 2014 9:27am Feb 10, 2014 9:27am
Street Fighter "silver & usd"
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  • #32,473
  • Feb 10, 2014 12:26pm Feb 10, 2014 12:26pm
Quoting dric
{quote} Hi XT! Just got back from a weekend getaway ! Yes this helps alot ! I do have a question about timing. When do you execute your trades ? Or rather, how do you determine if the time is right based from your experience? Do you normally enter your trades after "Cross sessions" ?? Or (for news forecast trading) like 5 hours before the expected news? Also, how long do you normally hold your positions when trading forecasts? Thank you ! Regards, dric
Enter your trades at the Low of the day or the high of the day. Anywhere else is asking for a loss in your balance, even though equity is non-tradeable, your balance is. Never forget that.

Trading news is like believing the lies the devil tells you. sooner or later the market will reveal the truth. Trade the market, not the news.
You win, you lose. All else is history. The future does not exist.
  • #32,474
  • Feb 10, 2014 2:31pm Feb 10, 2014 2:31pm
Quoting JimmyC
Gold Daily I'm open long SL 1122 target 1335 medium term trade. I note a sustained rebound with the potential of a double bottom which again only confirms on the breach of 1435 (so unconfirmed pattern) I continue to note valid inverted H&S pattern. GAP trade 1278 to 1305 continuation to final target where after 200 will become interesting. R/R set but due to countertrend trade only risking 1% total capital, I'll add after the break of the 200 {image}
Suppose it not worth mentioning but ... still long for 1335

  • #32,475
  • Feb 10, 2014 5:26pm Feb 10, 2014 5:26pm
Quoting JimmyC
{quote} Suppose it not worth mentioning but ... still long for 1335
Good luck with that.
Personally, I think it's heading south.
  • #32,476
  • Feb 10, 2014 9:47pm Feb 10, 2014 9:47pm
Quoting JimmyC
{quote} Suppose it not worth mentioning but ... still long for 1335

COURSE IT IS!!!

TWO NEW HIGHS IN 24 HOURS!!!!!!!!

NICE!

Still long from 1190, but not worth mentioning,

long again from appx 1255 when support identified itself.

Good luck till tomorrow.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,477
  • Feb 10, 2014 9:49pm Feb 10, 2014 9:49pm
a LOSS of FAITH in FIAT currencies IS ALWAYS POSITIVE FOR GOLD. Not sure who wrote this but it's not worth reading.

Do some fundamental research...

Quoting The Rhodie
Due to data protection leaks in the Big Bank industry, there is likely to be substantial loss of faith in currencies. This could be bad for gold. For those of you wondering what I'm on about, look at this: http://www.theguardian.com/business/...cammers-report and it is only the tip of the iceberg. Expect huge upheavals in the markets in the coming months. This is one of those market things that causes Tsunami sized trades to occur randomly and could lead to runs on banks....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,478
  • Feb 10, 2014 9:51pm Feb 10, 2014 9:51pm
Quoting liuxs
{quote} Here is the EW forcast for gold ... now M1 scalping gold triangle after swing high ..... {image} {image}

Try some "LONGER TERM" analysis on Mebbe an HOUR ONE to start... Jeese, if I traded M1 and was short like all the other idiots I would be losing money all month.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,479
  • Feb 10, 2014 9:52pm Feb 10, 2014 9:52pm
Let's discuss this one tomorrow.!!!

Trades are always executed before and after the releases to ensure fills. Stops can be placed if need be.

Quoting dric
{quote} Hi XT! Just got back from a weekend getaway ! Yes this helps alot ! I do have a question about timing. When do you execute your trades ? Or rather, how do you determine if the time is right based from your experience? Do you normally enter your trades after "Cross sessions" ?? Or (for news forecast trading) like 5 hours before the expected news? Also, how long do you normally hold your positions when trading forecasts? Thank you ! Regards, dric
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,480
  • Feb 10, 2014 10:02pm Feb 10, 2014 10:02pm
Quoting XTrade
Let's discuss this one tomorrow.!!! Trades are always executed before and after the releases to ensure fills. Stops can be placed if need be. {quote}

There is always risk, yet, once you have some experience, it becomes less risky and you gain the ability to "forecast" higher and LARGER probability trades.

Look at the NFP and subsequent market move after. Also notice the techs.

1250 and 1255 were a pivot / upper side support for mid - day trading terms. After multiple tests below, and FAILED closes below further support at 1235 =
the price suggested support at the aforementioned 1255 area.

Then, news, / fundies came into play with another - re-occurring bad NFP and sh!t Unemployment from the US (USD) which all gold futures are settled in.

With these two drivers as well as a resistance created around 1270 and 1275 we beat BOTH targets. With a new high around TEN USD ABOVE RESISTANCE.

Now it would be time to look for minor corrections and enter on a nice low.

Look at the chart below, the NFP could have been traded either way and still become a winning trade with the right stop placements.
YET- now it is a small blip on the screen and the overlying trend remains.

Will POST A NEW MONTHLY tomorrow.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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