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-   -   XAU/USD & XAG/USD - Gold & Silver Traders Thread (https://www.metalsmine.com/showthread.php?t=222032)

olegchartist Feb 26, 2020 9:20am | Post# 54281

{quote} All big time frames are in over bought territory with RSI divergence. Are you also expecting deep correction? If so then what could be the bottom to resume bulls again?
Take a look at the previous post↑

ChopinTrader Feb 26, 2020 11:32am | Post# 54282

Corona distorted markets much... also helped GOLD much Love gold going up as we talked and talked and not many believed Now the "sky" is the limit... Sky=2000
I don't think news events distort markets, it's just all part of it. If you had been living under a rock for the past few decades and had no access to news but only your charts you would still be able to identify events and it all just becomes part of a pattern anyway.

giggsy Feb 26, 2020 11:44am | Post# 54283

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if stay above the trendline which stretches back to 2000...
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jorgen.fx Feb 26, 2020 12:20pm | Post# 54284

Trying a sell from 1642. 61.8% retracement of todays move down. SL above 1655. Target below 1625.

auricforecas Feb 26, 2020 2:11pm | Post# 54285

{quote} I don't think news events distort markets, it's just all part of it. If you had been living under a rock for the past few decades and had no access to news but only your charts you would still be able to identify events and it all just becomes part of a pattern anyway.
Yeah, maybe, but on the shorter term, news affect much (and some distorted markets quite heavily over the last 10+ years that I have been watching some markets very closely...), specially around high-economics news (not to mention FED/ECB/"TWITTER" news-flashes ), on daily, and weekly or more... In fact this is what gives the traders advantage if they react fast enough and understand the possible/predictable correlation of course... If you think this corona has no effect I won't try to convince you otherwise... Again, talking about daily, weekly aka short-term.. If you are talking about decades that might be another story...

ChopinTrader Feb 27, 2020 11:34am | Post# 54286

I'm not saying news doesn't have an effect I'm just saying news just pours fuel on a fire that already is happening anyway. Equity markets were at the very tops and most definitely due for correction while metals were due to run up. In my 25 years of looking at markets, catalysts whether known or unknown, always seem to happen at interesting price levels.. so in my opinion news events and other fundamentals do not matter much to me when I'm doing technical analysis in any time frame, short term or otherwise.

Ayax.TSS Feb 28, 2020 4:01am | Post# 54287

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#GOLD / H4 Click to Enlarge

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goldcartel Feb 28, 2020 12:46pm | Post# 54288

Most likely it will retrace to 38.20% Fibonacci retracement which is at 1600 zone maybe 1580 to retest the broken pennant. So far Coronavirus effects on the market seem to start to fade away. We've been scalping since the market open this week. It was a great trade, can't complain. Please reanalyze the chart to find a good entry and exit on the lower TF, because of this analysis base on the Daily chart. Good luck! Chart February 24, 2020 https://www.tradingview.com/x/s94q3hi5/ Current Market Price Chart https://www.tradingview.com/x/PwQuOM4V/...

Finally, it has reached the target at 1575 - 1585 zone. Great trade!

BEFORE - Chart February 24, 2020 (PST-Time zone)
https://www.tradingview.com/x/s94q3hi5/

MID-TRADE - Chart February 25, 2020 (PST-Time zone)
https://www.tradingview.com/x/PwQuOM4V/

AFTER - Current Market Price Chart, Chart February 28, 2020 (PST-Time zone)
https://www.tradingview.com/x/ic5lsjdl/

Feel free to contact me if you have any questions. Telegram: @Gold_Cartel , or you can join my Telegram free channel https://t.me/goldcartel

giggsy Feb 28, 2020 10:00pm | Post# 54289

well done gold cartel. looking forward for the next trade idea!

Aleksbuk Mar 2, 2020 1:32am | Post# 54290

Inserted Video

Ayax.TSS Mar 2, 2020 4:55am | Post# 54291

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#GOLD / Weekly Click to Enlarge

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Leongang Mar 2, 2020 5:02am | Post# 54292

I just trade gold and follow the trend to open buy order when candlestick show up trend and open sell trade when candlestick show down trend. SL 300pip and TP 300 ~ 500 pip.

It seen like work to me. able to reach trade ranking in top 10 Hope the momentum can continue until end of month.

I WANT BE GOLD KILLER. Will I?

Leongang Mar 3, 2020 10:56am | Post# 54293

Gold going up like sky rocket. Anyone grab it? Happy pipping

jorgen.fx Mar 3, 2020 3:26pm | Post# 54294

Gold going up like sky rocket. Anyone grab it? Happy pipping
Gold moves $65 in a day, thats a lot isn't it. Someone has a lot of money to play around with

Hutch Mar 3, 2020 4:57pm | Post# 54295

{quote} Gold moves $65 in a day, thats a lot isn't it. Someone has a lot of money to play around with
Not really this is exclusively due to the Fed lowering the interest rates by 0.5% so the $ went down and when the $ goes down gold cost more in $

EventsTrader Mar 6, 2020 10:31am | Post# 54296

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So the Fed's black out period begins tomorrow and over night the market started pricing in a 75 bps rate cut at the upcoming meeting. It's safe to say this Fed regime is deviating significantly from the previous ones where they guided the market right into their rate actions. There's going to be some heavy market volatility during the days leading up to the Fed decision amid all the uncertainty about what the Fed will do at the meeting. Click to Enlarge

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goldcartel Mar 8, 2020 7:33pm | Post# 54297

{quote} Finally, it has reached the target at 1575 - 1585 zone. Great trade! BEFORE - Chart February 24, 2020 (PST-Time zone) https://www.tradingview.com/x/s94q3hi5/ MID-TRADE - Chart February 25, 2020 (PST-Time zone) https://www.tradingview.com/x/PwQuOM4V/ AFTER - Current Market Price Chart, Chart February 28, 2020 (PST-Time zone) https://www.tradingview.com/x/ic5lsjdl/ Feel free to contact me if you have any questions. Telegram: @Gold_Cartel , or you can join my Telegram free channel https://t.me/goldcartel...

I'm too busy lately with my clients, didn't had a chance to post to this forum.
We bought low at the 1570s zones and TP at 1618-20. We did a few trades but I didn't post the chart.

This is our recent trade, we short xau when NFP data released, and we buy low at the 1640s - 1650s zone. Currently still holding the trade and waiting for the right time to adding more trade.

Chart Pre-NFP
https://www.tradingview.com/x/JCKttwfC/

Chart mid-trade-NFP
https://www.tradingview.com/x/LEuMJ6v7/

Current market price chart
https://www.tradingview.com/x/Ombl1FqA/


Feel free to contact me if you have any questions. Telegram: @Gold_Cartel , or you can join my GOLD Telegram free channel https://t.me/goldcartel

marcnathan88 Mar 8, 2020 11:01pm | Post# 54298

1 Attachment(s)
First gold scalp of the day. +50 pips in 9 minutes and on Asian session. TP was on yesterdays high. Price broke above it and is currently retesting it.

Chart is using THV v3 system by Cobraforex

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Aleksbuk Mar 9, 2020 3:31am | Post# 54299

Inserted Video

tush1822 Mar 9, 2020 8:57am | Post# 54300

So the Fed's black out period begins tomorrow and over night the market started pricing in a 75 bps rate cut at the upcoming meeting. It's safe to say this Fed regime is deviating significantly from the previous ones where they guided the market right into their rate actions. There's going to be some heavy market volatility during the days leading up to the Fed decision amid all the uncertainty about what the Fed will do at the meeting. {image}
I guess it will be 0.25 rate cut and some other easing alternatives. Converting it its effect on Gold, i think it will cross 1700 and briefly touch to 1750


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