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EF5 replied Aug 11, 2019Right now I see the DJIA is down 42 points since Friday's close. We might be looking at a slight gap up on gold at the open. image
Gold RIGHT NOW
- EF5 replied Aug 5, 2019
Not my worst day ever, but in the top 5 for $$$ drawdown.
% drawdown isn't nearly as bad thankfully.Gold RIGHT NOW
- EF5 replied Aug 5, 2019
I think the best best is to go with something other than MT4 for renko. I believe TradeStation and Thinkorswim both have it as a standard chart type.
The best renko bar generators
- EF5 replied Aug 5, 2019
NFP and ISM today both caused a smaller reaction than usual in the markets. I'm curious how long this will last, apparently trade is all that matters at the moment.
High Impact Events Trading... Gold & Copper
- EF5 commented Aug 4, 2019
There's a lot more than meets the eye with this. Here are a few things I’m questioning: - The Chinese know this will anger the US so have we reached a point where there's no hope for a trade deal? - Is China's economy is doing worse than we realize? ...
China: depreciation of yuan due to protectionism, tariffs on chinese goods
- EF5 replied Aug 4, 2019
Looks like the gap will be smaller. I'm not surprised it came back given it wasn't really news driven in the first place. image
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- EF5 replied Aug 3, 2019
Looks like we're poised for a gap up in gold at the open. Risk off weekend so far, but I'm not clear why other than maybe follow through from Friday. Here's how the DJIA is looking: image
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- EF5 replied Jul 31, 2019
Fed cut 25bps as expected and called an early end to their balance sheet runoff... Mildly bearish for gold since some participants were pricing in a 50bps cut. More bearish I think is the fact there were two dissenters who didn't want to cut. That ...
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- EF5 commented Jul 30, 2019
I think the market is underpricing the distinct possibility of no trade deal. Everyone is focused on the Fed, and for good reason, but no deal would have serious economic implications. After the FOMC this may start coming more into focus.
US-China trade talks restarted; atmosphere is good – Global Times
- EF5 replied Jul 30, 2019
Best of luck with the FOMC tomorrow everyone. I'd definitely err on the side of caution with this one and reduce exposure in advance.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- EF5 replied Jul 30, 2019
Good luck, this FOMC is going to be dicey. EventsTrader did a great write up on it here. I'm not long gold, but I've got a lot of exposure going into this so I'll be anxiously watching what they decide on. If they do a hawkish cut the 'buy ...
Gold RIGHT NOW
- EF5 replied Jul 30, 2019
Great write up. Your point about institutional economist pricing in a 10% chance on no change was particularly fascinating; what a reaction that would cause! Being very long equities, I'm nervous they'll do a hawkish cut. What I really don't want to ...
High Impact Events Trading... Gold & Copper
- EF5 commented Jul 30, 2019
While gold should hold up well during a recession, I'd still be hesitant to hold it for two reasons... 1.) Deflation may wind up being a negative for gold. CBs will probably ease enough to where this isn't a problem, but there's still cause for ...
Gold Bulls Look Beyond Fed as Growth Slows, Recession Risks Rise
- EF5 replied Jul 30, 2019
Just came across an interesting tweet on gold... url Apparently there's a big call skew in the options market, which most likely means traders are overly bullish. Gold hasn't done well in these cases in the past which is consistent with the ...
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- EF5 replied Jul 29, 2019
Thanks for sharing. I feel like I missed my opportunity on this back when it was >50% for 50bps. I still plan on looking at a Eurodollar trade for it, but there are too many moving parts for gold. Short gold is probably the right move, but who knows ...
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- EF5 replied Jul 29, 2019
Thanks for sharing! I finally read Dalio's latest article over the weekend where he's telling everyone to buy gold... He makes some really good points. As the economist in your video said, gold is primarily driven by rates right now and there's got ...
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- EF5 replied Jul 29, 2019
So silver recently had a 'golden cross' where the 50 dma crossed above the 200 dma. image This would seem like a bullish development, but check out this study I found: image (source) Surprisingly, silver hasn't performed well on average after a ...
Metals Outlook: Cash and Futures
- EF5 replied Jul 28, 2019
image Looking like no risk driven gap.
XAU/USD & XAG/USD - Gold & Silver Traders Thread