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

good style

Tuesday Fix will determine DXY next move. We currently have Bearish Fix against 1274.xx with trapping Bulls and money on the table for Bears at 1248.xx . However Bulls still have the handle until Daily Roll with 1255.xx as their fortress.

OVer1271===>1274.xx===>1278.xx{Pending}

My-Personal
Short@1269-70
SL:1275
TP:long-term..maybe==>1241.xx

Have you forgotten NFP Friday?

Big day I think (should be)NFP ..
1200x or 1300 hmmmm
Gold buy above 1255 ..

No not 1 bit. Have my eyes closely on it.

After the last settlement on August 1st the Tuesday Fix as set the week high and have been buying and dumping with fresh Bulls trying to get in with new position. Today we have a Bullish Day close but a Bearish Week close, which signal a lot. With NFP around the corner the line in the sand is 1270.xx Fix, against its high 1274.xx risk. With bulls still in play and their stops at 1255.xx and 1248.xx so Bulls are being trap from 1270.xx to 1274.xx at the moment. We also have sovereign selling 1270.xx with buy orders at 1250.xx and 1240.xx. We also have technically DXY at support temporary but haven’t shown any sign as being bullish as yet but with NFP and next week Tuesday Fix around the corner this will indicate whether we have set the high or low for the rest of the year. The quarter high 1296.xx and low 1204.xx is the risk from here; we already have LL at 1204.xx against 1213.xx with 1296.xx so this should be interesting for the Bulls if the week close below 1255.xx. Will track it closely going into next Tuesday and be watching tomorrow day close closely. This is how I see it in a nut shell going into NFP.

Well I will too but yet I see no effect of Gold on DXY recently or further back. Maybe you can post a chart?

I do see an effect NFP has on DXY although sometimes it's not immediate.

quoting visionary selling 1270 buying 1250.
until nfp sell 1275 sl 1278
buy 1250 sl 1247

close all positions 15 minutes before nfp

I will be trading before, during and after the NFP.

and burn accc...?

I will bet all my money 1 minute before NFP. That how a true trader playing this game

Hi 20pip

What's your trading plan for today?

I open 100$ for buy gold. Win 1000 or burn acc ? Waiting ...

Does the Canadian payroll data have a high impact on gold too?

Um ok

Are you still thinking this?

I am not saying that DXY and Gold correlate, however DXY is a good gauge to monitor USD/GOLD trading and at current DXY at support is what i was stating.