Silver and Gold trading

[maarnio]

Hi Rahman,

I am currently flat on Gold, long Silver.

I think Eur/Usd will trade in 1.39-1.44 range next week.

Best with your trading!

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Hello maarnio,

I see you managed to close out 2 of your Gold last week without going into losses.
I wasn't so lucky as I didn't expect Gold & Silver retracement to be that deep and have to close my positions with losses.

You seem very confident that EUR/USD will reverse upwards next week : )
Well, on the longer term, I think it's been very well predicted by various analyst of a bullish trend, while on the short term the general consensus is bearish...BUT who the hell really knows;right?...: )...That's forex!.....just have to watch and follow the trend I supposed. But you can't go wrong with long position though!

Alright, take care and all the best!

 

[RahmanSL]

Hi maarnio,

Hmmm, your equity at usd4, 824.75 is on the low side and worrisome.
What’s your Margin & Free Margin level now?

Yes, all indicators suggest possible deep retracements of the EUR/USD (even down to 1.3782 area) and I supposed you will take the opportunity to close out your short positions on this pair.
I will be looking to close out a few of my short positions at max profits and looking to go long at the 1.39 and below level.

I have completely sideline Silver & Gold as they have been too indecisive, and will wait for Q3 July before deciding whether to enter some long positions.

All the best!

 

[maarnio]

My margin level is 800% currently. I have placed some protective stops.

I would like to see Eur/Usd hold 1.38 level for my bullish bias. If we slip below I have to reconsider my outlook.

I think we will have a buying opportunity in Gold and Silver at the end of August. My plan is to exit my Silver longs around mid June.

Hi maarnio,

Hmmm, your equity at usd4, 824.75 is on the low side and worrisome.
What’s your Margin & Free Margin level now?

Yes, all indicators suggest possible deep retracements of the EUR/USD (even down to 1.3782 area) and I supposed you will take the opportunity to close out your short positions on this pair.
I will be looking to close out a few of my short positions at max profits and looking to go long at the 1.39 and below level.

I have completely sideline Silver & Gold as they have been too indecisive, and will wait for Q3 July before deciding whether to enter some long positions.

All the best!

 

[RahmanSL]

Yup maarnio, I suspect majority of forex traders expect (and probably hope) a bearish EUR/USD in 6 1/2 hours time......
Got to get some sleep and be bright eye and bushy tail for the New Zealand opens.
I have quite an extensive list to react to possible market sentiment next week.

All the best in your trading and get a net full of pips; yah!

 

[maarnio]

Thanks Rahman,

How was your week? I was sitting on my hands last week. I think the Eur/Usd will trade in range of 1.40-1.45 next week.

Best with your trading!

<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>

Yup maarnio, I suspect majority of forex traders expect (and probably hope) a bearish EUR/USD in 6 1/2 hours time......
Got to get some sleep and be bright eye and bushy tail for the New Zealand opens.
I have quite an extensive list to react to possible market sentiment next week.

All the best in your trading and get a net full of pips; yah!

 

[RahmanSL]

Hi maarnio,

Last week was ok for me....went up 22% on one of my accounts on Wednesday, but same day down to -21.61% mainly due to dropping crude oil.
However, managed to regain losses "playing" crude oil, silver, & gold which went down and than up again by market closing on Friday. My gain on that account is now 39.88% for whole of last week.

Only very modest gain on one of the other account (around 21.3%) which is strictly for long term investment trading, but the third account has huge drawdown. But thankfully, it is a micro account which is used for testing purposes.

I notice you have a "Sell" working order on silver at usd30 entry. Shouldn't you have that on "Buy" order at usd30??
If silver is indeed going to drop down to usd30, I would go in with at least 4 long positions and will probably hold them for at least usd40 before considering closing any one of these positions. At least one position would be held for that expected usd100 predicted price.

I am sorry, but looking at your two aud/usd short positions at 0.81000 & 0.81500 entry, I cannot help but smile at how long you will have to wait before you can close them out at profits.
As a matter of fact, I have a placed a fairly large short "sell limit/working order" on aud/usd at 1.1015. Once I get that order filled, I want to try out a trading strategy which I have been working on.

Ok, take care and all the best!

 

[maarnio]

Congrats Rahman,

My Sell Stop order in Silver is just insurance. I am currently flat on Aud/Usd.

I think Eur/Usd will trade in range of 1.41-1.46 next week.

Best with your trading!

<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>

To Receive my Forex Signals sign up at <a href="http://www.rentasignal.com/?affiliate=14140"target="_blank">Rent A Signal</A>
You can search for my signal: GOLD AND SILVER (MOSTLY) by maarnio

Hi maarnio,

Last week was ok for me....went up 22% on one of my accounts on Wednesday, but same day down to -21.61% mainly due to dropping crude oil.
However, managed to regain losses "playing" crude oil, silver, & gold which went down and than up again by market closing on Friday. My gain on that account is now 39.88% for whole of last week.

Only very modest gain on one of the other account (around 21.3%) which is strictly for long term investment trading, but the third account has huge drawdown. But thankfully, it is a micro account which is used for testing purposes.

I notice you have a "Sell" working order on silver at usd30 entry. Shouldn't you have that on "Buy" order at usd30??
If silver is indeed going to drop down to usd30, I would go in with at least 4 long positions and will probably hold them for at least usd40 before considering closing any one of these positions. At least one position would be held for that expected usd100 predicted price.

I am sorry, but looking at your two aud/usd short positions at 0.81000 & 0.81500 entry, I cannot help but smile at how long you will have to wait before you can close them out at profits.
As a matter of fact, I have a placed a fairly large short "sell limit/working order" on aud/usd at 1.1015. Once I get that order filled, I want to try out a trading strategy which I have been working on.

Ok, take care and all the best!

 

[RahmanSL]

Hi maarnio,

Your opened losing currencies pairs look worrisome....you will probably get profits on your opened long positions on metal by next week or so, but probably will have to wait a while on the short positions as metal is expected to go steadily up from now onwards due to uncertainties on all major currencies.

All of last week, I have been going in long on silver on the dips, and closing out either manually or with TP triggered on the short burst upwards. I caught the up & down movements 5 times and have made some good pips.
As speculated, the Big Boys (like Soros, etc) are unloading their huge positions on Silver to take profits and then will go back in on the dip probably by next week or so. So we might see the usd50 Silver in the not far distance.
Gold is on the rise, of course, due to uncertainties and weaknesses in most major currencies. So it would be good to buy & keep some positions on the dip.

I did well on crude oil too catching it both on the dips and highs.
After weighing the different conflicting news (Libya threats, OPEC meeting, USD lower stockpile, reduced spending of some EU countries, etc) on oil, I think it will go down below the usd100 p/b mark next week...which will be good for me as I have some opened short positions.

I did very little currencies trading all of last week as I don't trust any of the news which makes market direction difficult to predict.

All in all, I am up around 141% on that new live trading account last week.

Alright, all the best in your trading next week.

 

[maarnio]

Good results Rahman,

I think we did get bottom in Silver last week. Looking for some rally in Gold and Silver next two weeks. I think Eur/Usd will trade in range of 1.42-1.47 next week.

<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>

To Receive my Forex Signals sign up at <a href="http://www.rentasignal.com/?affiliate=14140"target="_blank">Rent A Signal</A>
You can search for my signal: GOLD AND SILVER (MOSTLY) by maarnio

Hi maarnio,

Your opened losing currencies pairs look worrisome....you will probably get profits on your opened long positions on metal by next week or so, but probably will have to wait a while on the short positions as metal is expected to go steadily up from now onwards due to uncertainties on all major currencies.

All of last week, I have been going in long on silver on the dips, and closing out either manually or with TP triggered on the short burst upwards. I caught the up & down movements 5 times and have made some good pips.
As speculated, the Big Boys (like Soros, etc) are unloading their huge positions on Silver to take profits and then will go back in on the dip probably by next week or so. So we might see the usd50 Silver in the not far distance.
Gold is on the rise, of course, due to uncertainties and weaknesses in most major currencies. So it would be good to buy & keep some positions on the dip.

I did well on crude oil too catching it both on the dips and highs.
After weighing the different conflicting news (Libya threats, OPEC meeting, USD lower stockpile, reduced spending of some EU countries, etc) on oil, I think it will go down below the usd100 p/b mark next week...which will be good for me as I have some opened short positions.

I did very little currencies trading all of last week as I don't trust any of the news which makes market direction difficult to predict.

All in all, I am up around 141% on that new live trading account last week.

Alright, all the best in your trading next week.

 

[RahmanSL]

Hi maarnio,

With weak USD & EUR, Gold is expected to be at the 1551 level next week...and I see you still have a good opened position on it! : )

However, as suspected by most analyst, the Big Boys are in control of Silver and it's anybody's guess where it's heading next week or so.
My personal "suspicion" is that the Big Boys are racking in their profits and will go back in at the 34-35 level...i.e if they have not already done so...Then Silver (which is in short supply) might go past 50 heading ever closer to the prophetical 100 mark. As we have mentioned last month, Silver is expected for a reversal this month before heading North again.

You are probably correct in EUR/USD trading range for next week as a weak USD will do more harm to the already fragile world's economies. High USD pegged Oil is especially undesirable.

All the best!