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

  • #51,981
  • Aug 16, 2019 9:47am Aug 16, 2019 9:47am
Quoting tush1822
{quote} Hello Vorenzd, Any thoughts on today's housing data?
Hey tush!

Not a lot of thoughts, but here are some:

The data on single family building has reached the highest level since November. Low mortages are supporting demand.

Total building permits rose 8.4% and exceeded estimates, this increase (MTM) was the largest in the last 2 years.
Building permits also rose for a third month.
However data next week will show existing home sales which make up the majority of the US housing market so my focus is on that.

Starts (which are more volatile) have decreased 16.2% after a 16.4% decline in June, while permits increased 21.9% last month.

I don't like this report very much because it has a wide margin of error, there is a 90% chance that the headline figure was between a 12% decline and a 4% increase... in my opinion that margin is too wide to have a significant impact on the economic outlook.
Through the light of enlightenment, darkness unveils the path of truth.
  • #51,982
  • Aug 16, 2019 9:53am Aug 16, 2019 9:53am
Quoting montygoldy
{quote} Added more longs today between 1506 - 1514.... 1560 go go go go go
Agree with your buy area Money man
4&1 All Time Profit: $37,496
  • #51,983
  • Aug 16, 2019 11:25am Aug 16, 2019 11:25am
Quoting MzansiObi
{quote} Agree with your buy area Money man
What is leading to the buy sentiment? H1 and H4 trends still looking a little like a sell mode. I am sitting out at the moment. Looking for an opportune time to enter, but thinking about calling it for the week as well. Nice wins this week.
If in doubt, paddle out!
  • #51,984
  • Aug 16, 2019 12:24pm Aug 16, 2019 12:24pm
Quoting Vorenzd
{quote} Hey tush! Not a lot of thoughts, but here are some: The data on single family building has reached the highest level since November. Low mortages are supporting demand. Total building permits rose 8.4% and exceeded estimates, this increase (MTM) was the largest in the last 2 years. Building permits also rose for a third month. However data next week will show existing home sales which make up the majority of the US housing market so my focus is on that. Starts (which are more volatile) have decreased 16.2% after a 16.4% decline in June,...
I am impressed with the detail insight into macro data. You are a valuable member of this group. Be active. CHeers
  • #51,985
  • Aug 16, 2019 12:26pm Aug 16, 2019 12:26pm
Quoting montygoldy
{quote} Added more longs today between 1506 - 1514.... 1560 go go go go go
Very much likely it will hit 1560 soon may be Monday!! You can see the right angle triangle bullish formation, possible break above 1530 line.
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  • #51,986
  • Aug 16, 2019 1:26pm Aug 16, 2019 1:26pm
Quoting auricforecas
{quote} Heh, today it was extraordinary drop (eurusd).. I do no think it will hold (for now), but RISE in GOLD vs EUR was so much better than GOLD vs EUR (3 times more!)... It has been a better option for months now... It might be leveled out by rebound.. but in overall.. since 22JUN for example... XAU/EUR wins hands-down... vs XAU/USD Will see by the end of the month if it will still be... I am very close to live TE XAU/EUR... decision within a week... https://www.tradingview.com/symbols/XAUUSD/ +0,23% (since midnight on the chart -...
Gold took a hit/dive but one more thing came out of this.. regarding the XAU/EUR that I have been promoting...
XAU/USD took 4x times the dive from weekly peak than the XAU/EUR

  1. https://www.tradingview.com/symbols/XAUUSD/ -1,23% from (this) weekly peak
  2. https://www.tradingview.com/symbols/XAUEUR/ -0,30% form (this) weekly peak

Yeah the eurusd took rather massive hit (relatively).. I do not think that would hold without rebounce.. but if it does.. we are going to parity by the end of the year...
I do believe there will be a rebounce to like .1169... and than proceed with the slow drop... I do not know if I should be happy with the trend going as I have been timestamping since 22JUN19+... because I do not like that it dropped so much this week, ussualy that is not a good sign... painful retracements that messes up...
The second reason is, that was also the option... that it will drop much more, so towards the parity... But either opption is "good" since it is the direction I was projecting... but stilll dont like the deviations from projection that much, even though it was in the predicted direction

Can you afford to take that chance?
  • #51,987
  • Aug 16, 2019 1:44pm Aug 16, 2019 1:44pm
I want today's daily candle to close green... then next week can expect 1550+++.... no technical or fundamentals.... only guts
Extreme gut feeling trader
  • #51,988
  • Aug 16, 2019 1:48pm Aug 16, 2019 1:48pm
Quoting SurfsUp
{quote} What is leading to the buy sentiment? H1 and H4 trends still looking a little like a sell mode. I am sitting out at the moment. Looking for an opportune time to enter, but thinking about calling it for the week as well. Nice wins this week.
H1 yes....but H4 PA drifted into buy area.....and it started accumulating before pushing higher.....

Correlated with some downside levels that held as support and didn't break lower....so where to from there if support holds....Northside......
4&1 All Time Profit: $37,496
  • #51,989
  • Aug 16, 2019 2:33pm Aug 16, 2019 2:33pm
Quoting tush1822
{quote} I am impressed with the detail insight into macro data. You are a valuable member of this group. Be active. CHeers
Thanks ,I'm glad you like my insights and consider them valuable. I'll do my best to stay as active as possible and produce even more quality content!

Cheers
Through the light of enlightenment, darkness unveils the path of truth.
  • #51,990
  • Aug 16, 2019 10:26pm Aug 16, 2019 10:26pm
Quoting tush1822
{quote} Very much likely it will hit 1560 soon may be Monday!! You can see the right angle triangle bullish formation, possible break above 1530 line. {image}
Wow, yeah it looks like it is building a base to go higher. I hadn't noticed that, thanks for sharing!
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #51,991
  • Aug 17, 2019 10:30am Aug 17, 2019 10:30am
1452 limit/ ok 1480 if too hurry to play up try 1555 + , one last leg up to correct further for 1365 limit . take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #51,992
  • Aug 17, 2019 11:34am Aug 17, 2019 11:34am
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  • #51,993
  • Aug 17, 2019 11:59am Aug 17, 2019 11:59am
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persistence and determination alone are omnipotent
  • #51,994
  • Aug 17, 2019 2:37pm Aug 17, 2019 2:37pm
Quoting fontu
1452 limit/ ok 1480 if too hurry to play up try 1555 + , one last leg up to correct further for 1365 limit . take care {image} {image}
Hey Fontu....

Agreed....
I'm more concerned as to whether certain levels hold or not. Got some support levels I'm eyeing out but if they break that target coincides with a certain level on my H4 chart.....


Have attached it here....
That level coincides with my M15 trigger for scalp setups that I've attached too. Price tends to react abruptly when it hits....



Deeper outlook and levels posted here.....

https://www.metalsmine.com/showthrea...3#post12447693


Hope we all enjoying the weekend.....
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4&1 All Time Profit: $37,496
  • #51,995
  • Aug 17, 2019 2:44pm Aug 17, 2019 2:44pm
Quoting Vorenzd
{quote} Thanks ,I'm glad you like my insights and consider them valuable. I'll do my best to stay as active as possible and produce even more quality content! Cheers
Always bro.....more so leading up to key announcement events etc.....you and others that continue to post insitefull fundamental outlooks really help big ups!!!
4&1 All Time Profit: $37,496
  • #51,996
  • Aug 17, 2019 5:28pm Aug 17, 2019 5:28pm
Quoting fontu
1452 limit/ ok 1480 if too hurry to play up try 1555 + , one last leg up to correct further for 1365 limit . take care {image} {image}
Hi fontu.... your chart look so beautifull.... i like it
  • #51,997
  • Aug 18, 2019 3:14am Aug 18, 2019 3:14am
Hi guys,

May i know your risk and money management while trading gold? The speed and magnitude of up and down within minutes are quite 'excited' but scary at the same time and i also blew my accounts.

In order to be able to earn from gold trading, i am grateful if the posters here can share how you manage your trade and your trading style, etc.

Thanks for all the constructive input.
  • #51,998
  • Aug 18, 2019 5:44am Aug 18, 2019 5:44am
Quoting PositiveTrad
Hi guys, May i know your risk and money management while trading gold? The speed and magnitude of up and down within minutes are quite 'excited' but scary at the same time and i also blew my accounts. In order to be able to earn from gold trading, i am grateful if the posters here can share how you manage your trade and your trading style, etc. Thanks for all the constructive input.
Hey bud......


It's all dependent on your risk appetite number one and the capital you have got.

As you rightfully highlighted the the volatility is high and presents a great opportunity to make money but also probability to loose if one is careless.

General rule of thumb is pick your levels carefully and manage your lot size to a position you won't feel uncomfortable with leaving your trade un monitored while using SL to ensure youdont blow accounts.....

In a nutshell,
What I personally do is look to close a portion of the trade and then trail the rest of the position.... So that's to say if I have a standard lot running.....when I move into profits, I close some and leave about half the trade running and adjust SL to BE or more.....then I may use the running trade as a hedge trade at certain levels where the market may turn etc...... but it's not set in stone...all depends on market dynamics at the given moment......but the most NB thing is preservation of capital...if I can begin trailing/lock in profits,then half the job is done ....so long as I'm not loosing chunks on end of my equity then I'm good ...

But this is something that doesn't work for everyone...some guys prefer riding one direction and not taking partial profits.....all really depends on your risk appetite.......

Just a brief summary
4&1 All Time Profit: $37,496
  • #51,999
  • Aug 18, 2019 8:28am Aug 18, 2019 8:28am
Don't like so sudden drop of eurusd this week... I would prefered, as I predicted/calculated the SLOW eurusd drop.. and all (co)related things... that are connected to it.. so betting on the XAU/EUR till end of OCT etc... Usually when those kind of rather drastical drops happen.. there are some painful retracements... OR the pair is seriously going down which might trigger some CENTRAL interventions again... I would much prefer for it to retrace for about 60pips and than continue the slow decline... consequently... other derived trades would be much calmer... XAUEUR etc... instead of those nasty spikes, reversals, interventions, tweets, news conferences etc etc... So I am very curious of what mind happen this week 19-23AUG (and the week after that ONE)...
Can you afford to take that chance?
  • #52,000
  • Edited 10:04am Aug 18, 2019 8:52am | Edited 10:04am
Quoting MzansiObi
{quote} Hey Fontu.... Agreed.... I'm more concerned as to whether certain levels hold or not. Got some support levels I'm eyeing out but if they break that target coincides with a certain level on my H4 chart..... Have attached it here.... That level coincides with my M15 trigger for scalp setups that I've attached too. Price tends to react abruptly when it hits.... Deeper outlook and levels posted here..... https://www.metalsmine.com/showthrea...3#post12447693 Hope we all enjoying the weekend..... {image} {image}
ok H4 play as per , m15 your scalp set up not understand though . Take care

check usdx now, yes some correction to crash next most likely towards 97.30 may take gold down to as they paired unusually for this bull, so they fall may together next !!
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Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
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