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Gold futures & XAU 78 replies

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

Gold fell right into the buy zone from my prior post, but a single seller at 9:29pm EST on a Sunday night triggering stops is not exactly indicative of market sentiment so I think a stop at $1,104 until the London market opens and reacts is my wisest move at this point.
You can always make money tomorrow provided you don't lose it today.
Oh IMO I'd say the low of the day, and maybe of the week, has been made. But far from the low of the year.
Quoting KADC
Gold fell right into the buy zone from my prior post, but a single seller at 9:29pm EST on a Sunday night triggering stops is not exactly indicative of market sentiment so I think a stop at $1,104 until the London market opens and reacts is my wisest move at this point.
A single seller of size:
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Quoting Mroue26
Who the fkkkkk believes this!!!! Holding shortttt all nighttt i slept with one eye open and when i closed the trade at 1130 this shit happenssssssss!!!! {image}
...u funny man
We err, and err, and err again, but less.
Quoting dweb
{quote} ...u funny man
4 minutes only after i closed my short trade i swear!
It's a black swan for XAU today....many people cry and many fly....
Going north j
the major 2015 support 1080 says go north
The battle going forward is:
Eyes on 1107 response looking for a daily and weekly close above.
what is $1119-20 response going to be ?
Pending sell limit @m5
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Quoting Mroue26
{quote} 4 minutes only after i closed my short trade i swear!
I believe you man, I do.
We err, and err, and err again, but less.
Could not get edit to work to make correction .
Support at 1076 not 10&0.
bias up from 1076
Although 1107 sent her south , we need to see a weekly close above if we're going north.
Quoting SunTrader
{quote} A single seller of size: {image}
Indeed. It was 22 tonnes followed by another 57 tonnes, which is 2% of global production sold within a few minutes [from Hantec Markets]. Bearish sentiment is nearly universal at this point, nearly like it was universally bullish at $1,900, and since there's been no sell follow-through I placed a single long entry for October gold at $1,087.5 which triggered at 8 a.m. this morning . If it doesn't play out I'll try again at $1,045.

I still don't think gold is going to rise until Indian gold buying season in September but this may be a good time to start accumulating long positions. Physical silver and gold is definitely a buy (if you can find any). I'm Canadian, so the physical metals have been a good investment with the gold spot price being on the rise since June of 2013, and though the spot price of silver has fallen, the retail price hasn't.


Gold and Silver in Canadian dollars - monthly

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(grey line on price chart is silver)
You can always make money tomorrow provided you don't lose it today.
Wolfe wave in progress

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wolfe wave in H1
buy stop above trigger line.
anyone agree with this?
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And falling's just another way to fly...
Anything is possible ... but then again I prefer to trade with the trend.
do you think its good to buy on 1073 with sl 1069
Quoting lilpip
bias up from 1076 Although 1107 sent her south , we need to see a weekly close above if we're going north.
Thur 1107 sent her ssouth
fri 1076 sends her north
Lets see where she closes next week
Looks to me typical short covering rally - going into the weekend.

And although Silver is climbing back also, it is after making another new weekly low earlier today.
Quoting SunTrader
Looks to me typical short covering rally - going into the weekend. And although Silver is climbing back also, it is after making another new weekly low earlier today.
I agree. Key point is that support might turn resistance. Friday is normally profit taking.
The true fact is market doesn't care, risk mgt is important.
Hi Everyone,

This is my first time of posting here.

I just thought I should share my end of week analysis with you. Is it possible that this play out in the coming weeks? Please share your thought.
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Quoting Mroue26
do you think its good to buy on 1073 with sl 1069
Hope you took that trade & are still holding, cos after a drop to 1091 on Monday morning you will be aiming for 1125.
Combat crazy markets with crazy trading
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