XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1814 | Metals Mine

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

  • #36,261
  • May 18, 2016 9:46am May 18, 2016 9:46am
my take is that a pretty big sell off is coming up on gold shortly. but ultimately will still turn bullish at / around 1230-1234
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  • #36,262
  • May 18, 2016 9:49am May 18, 2016 9:49am
Until FOMC Minutes at 2:00 p.m., it may stay in a range.
  • #36,263
  • May 18, 2016 9:52am May 18, 2016 9:52am
ok Ive put in some pending orders for the above scenario.
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  • #36,264
  • May 18, 2016 9:53am May 18, 2016 9:53am
Quoting Fadhl
Until FOMC Minutes at 2:00 p.m., it may stay in a range.
yeah that's true bro. I've setup some pending orders and time to take a break now.
  • #36,265
  • May 18, 2016 9:58am May 18, 2016 9:58am
hi guys

is there any other idea for long?
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  • #36,266
  • May 18, 2016 10:43am May 18, 2016 10:43am
I don't see any option to go long and no setup to go long. Viable option is shorting, however figuring out a solid entry is a rocket science.
So I'd stick with selling upon breakout for now.
  • #36,267
  • May 18, 2016 10:45am May 18, 2016 10:45am
if you look @ H4 you'd note that all recent attempts by the bulls to get gold to trade higher were met with equal / stronger selling pressure.
the bulls ain't in control at the moment.
  • #36,268
  • May 18, 2016 10:59am May 18, 2016 10:59am
My little advice is to stay away until FOMC Minutes because it will go up or down. Otherwise, you can have two pending orders with SL (it's really risky!): one sell and one buy. This should be done when we are close to the time release because of the current high movement up&down. Good luck everyone! My guess based on US economic situation is up!
  • #36,269
  • May 18, 2016 11:01am May 18, 2016 11:01am
Quoting asgcorp
if you look @ H4 you'd note that all recent attempts by the bulls to get gold to trade higher were met with equal / stronger selling pressure. the bulls ain't in control at the moment.

thank u :-)
  • #36,270
  • May 18, 2016 1:15pm May 18, 2016 1:15pm
ok so with apparent support for june rate hike gold should be sold off shortly could be a big move also (30-40 USD).
  • #36,271
  • May 18, 2016 1:16pm May 18, 2016 1:16pm
Quoting asgcorp
ok Ive put in some pending orders for the above scenario. {image}
all trades got triggered.
  • #36,272
  • May 18, 2016 1:20pm May 18, 2016 1:20pm
here's a quick update
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  • #36,273
  • May 18, 2016 1:21pm May 18, 2016 1:21pm
bulls will try to fight but we are going to 1232-1234 anyway
  • #36,274
  • May 18, 2016 1:36pm May 18, 2016 1:36pm
Quoting Fadhl
My little advice is to stay away until FOMC Minutes because it will go up or down. Otherwise, you can have two pending orders with SL (it's really risky!): one sell and one buy. This should be done when we are close to the time release because of the current high movement up&down. Good luck everyone! My guess based on US economic situation is up!
not a very good idea ))) you'd be better off picking just one direction bro.
  • #36,275
  • May 18, 2016 1:41pm May 18, 2016 1:41pm
Quoting asgcorp
{quote} not a very good idea ))) you'd be better off picking just one direction bro.
No, it worked out well! I was able to close my buy order quickly with small damage
  • #36,276
  • May 18, 2016 2:12pm May 18, 2016 2:12pm
moving stops to BE and off to get some sleep.

did ok today overall.
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  • #36,277
  • May 18, 2016 2:24pm May 18, 2016 2:24pm
Quoting asgcorp
moving stops to BE and off to get some sleep. did ok today overall. {image}
Your TF is very high! I think the maximum that it will go down is 1246 based on my calculation.
  • #36,278
  • May 18, 2016 2:25pm May 18, 2016 2:25pm
a lot of stops to be triggered based on retail sentiment on oanda retail crowd is massively net long gold and silver
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  • #36,279
  • May 18, 2016 2:26pm May 18, 2016 2:26pm
With the U.S equity indices looking so top heavy, I wonder when they eventually do drop drastically, how will this affect gold. My immediate thought would be that it is bullish commodities.

I'm closely watching any moves that suggest this. Will enter a trade based on that.
  • #36,280
  • May 18, 2016 2:27pm May 18, 2016 2:27pm
Quoting choubaka
With the U.S equity indices looking so top heavy, I wonder when they eventually do drop drastically, how will this affect gold. My immediate thought would be that it is bullish commodities. I'm closely watching any moves that suggest this. Will enter a trade based on that.
yes but this won't happen until after the elections, stock market heavily manipulated atm.
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