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

gold needs a clear break of the blue box region for next clear trading direction which i expect in next week. I would looking to sell after a clear break of the mentioned box region or buy on some bullish reversal signs.

I wonder if dollar will break or bounce on 90, its currently at the bottom of the up-trend between 50 and 61.8% retracement on H4. Big drop yesterday.

Is pepperstone broker good for gold or silver?

Like I said yesterday I went long today as well at 16.4$ but this time I am holding it. Lets see how the next week starts

Disappointed... Was hoping for a whip to pass 1300. See how next week goes...

Mitchoss, thanks for your generosity in posting here. I wondered if you would be willing to share how you arrived at 1627 and 1616 support levels. I try to learn as much about this business as I can.

I've an A/c with them
no probs

Historical support levels and the indicators were telling me that silver didn't have legs beyond that based on the oversold nature and also the USD index was testing a resistance. Good chance of it bouncing inv that scenario

Guys so very interesting events unfolding with regard to US imposing tarriff's on EU.

There is an article on the front page of Zergohedge.com reflecting back on the last time this was done under Bush's lead in 2002 and the impact of the markets, usd and gold. https://www.zerohedge.com/news/2018-...-happened-next

While I am quite comfortable to be long at the moment, there is always risk of high volatility and seesaw action to shake out hands.
Last event had the following impact short - long term;
Spike in SP500 followed by heavy short selling
Spike in Bonds followed by heavy short selling
Flat USDX followed by heavy short selling

Most importantly, if you are not comfortable trading this or have not done your research to understand what the markets may do, stay aside until direction is clear as during times like this, indicators and technical analysis can be null and void.. catching people off guard as prices break out of normal patterns of behaviour.

Be vigilant with your account and money right now, as I suspect as this intensifies, the money will move into risk assets.

XAUUSD DLY Chart:
Long $1324
Trailing Stop from $1321
TP: $1333 / 39
Cheers, U2
Edit: Chart and TP

Sell 1328. Sl 1330. Tp 1302

Silver longs closed after fail to break 16.59. Short now looking for test of 16.38

Edit:closed short also. Market being a bit unpredictable

Hi Mitch,
I'm seeing Silver also turning up.
XAGUSD DLY Chart:
[no position, only GOLD]
Cheers,
U2

I do agree the longer time frames look bullish however a 1-4hr retracement may see us head back to AU 1312-1316 and AG 16.38 before we head up for the next leg. That’s the PA I’m watching at the moment but if gold and silver break out tonight it will be a good bull run up

edit: heavy selling at the moment. May break through the 16.38 on silver .. :/ trades closed, bed time

Time for gold down. Maybe below 1312

1st target - 1302
2nd target - 1290

I agree, it does look quite bearish for now.

I've been watching gold all day and I got a nice revenue. Got short at 1326 and closed at 1323 for a fast trade. Now stands at 1319 and Ichimoku tells it looks bearish at 4h time frame, while daily timeframe says it's quite bullish. Not really sure if it's going to break down 1300~