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

looks like we split the difference.

Unfortunately it looks exactly like that...

Looks like today was your day...

Silver reached 16.65, the question now is whether there will be a breakout above that level or the sideways consolidation will continue.

It moved nearly too nice oO Sick...

On H4/Daily its still ranging...
I think a lot will depend now on the stock market the next days.

Yes it is, but quite widely. Not hard to make some money. 9-19 March was super hard for me, but everything outside that time period - it is just fantastic. I do expect something like 9-19 to be introduced again. Soon. Lets hope I am wrong.

Candlesticks and patterns give information about market reaction to news. Focusing on news can be stressful. This is because no one knows how market will react. Making money doesn't have to be stressful

(start horn toot)

Huzzah! One hundred and eighty-nine pips!

(end horn toot)

Geopolitical, Fed news does push the GOLD price.
I have been telling noobs to buy since 1260 and again 1320.
Remember: Noobs only know how to lose money even if you give them trades that make thousands of green pips



Nice trading!

It's been a long time coming as some would say! And others are oblivious having no concern to If.. any impending danger ahead. Yet the priceless question is do we buy sell or sideline.

Keep in mind this is an electronic venue and as such its easy for paper traders to get caught up in the stackers mentality. If we take a vivid example of silver metal on the ground using the Shanghai exchange you can see how huge quantities over the last handful of years go in and come back out. And when they do the story tellers amp up the preaching.

Consider also India as another more hands on example for gold purpose valuation that easily gets misconstrued.
In that region the gold is more measurable locally as to the season of weddings either inducing or reducing demand.

The Egyptians wore their gold and brandished its luster to show wealth no different than those today driving Lamborghini's and living in over sized houses. Gold is a measure of wealth. In our dynasty that measure has been accorded to a external component called dollars. Dollars or no more than a concept of strategically guided trust. So as long as a time tested object is valuated in illusion the circus of conspired lust will prevail regardless if the underlying asset has a voice of its own or not.

This is where and why fence watchers on occasion dream up conspiracy and such noise makes its way to the on line bibles such as Youtube and boutique news outlets.

Metal moving around draws attention to those peeking under the hood while not being in the know as to whats the causation rather assuming the focal point to hype and euphoria. The metals complex is a church of its own that has among its many members constant lateral visitation to outside influences. We can't eat Gold nor Silver to sustain us though some do consume these elements literally and claim benefit. So as these 2 metals travel through history accounting their precious value to scarcity and unique non to limited reactive elemental durability. With each passing generation nothing has actually changed. Other than the expanding availability of media venues to stir the proverbial Pot Of Gold.. And twist the Silver lining with disorganized pseudo tangibility.

*The overnight into Mondays run up in Gold Silver futures are unsustainable based on western rhetoric and tantrum talk from far east. In this Bully America First Scheme in play currently. The expectation is a third world changing of the guard.

The United States has run hot coursing through boom bust cycles without allowing physical remedy to manifest. While thus being the youngest nation in the consortium of global powers. Both Russia and China have far better accounting measures in position of action to curtail fiduciary blow back from afar. For common citizens of all affected nations to be accumulating the top metals is both suitable and advantaged post wise logic. Paper money will always Be What It Never Was.. With the obvious roll out of an all digital financial system propositioned as a Who's on First at present yields high probability the Gold is positioned as the counter ans silver the street level leverage. The 11th hour is upon the leading edge of the horizon ahead. We cant see nor assume measurement to the 12th position.

**Trade with caution beyond reasonable measure as the markets speak extreme alternative polarity contempt. "What is Old Is New Again There Is No Thing New Under The Sun"

First of all, thx for the advice. That does explain why news are rarely mentioned on this thread. In the future, if my method does not work out, I may switch to another trading style. Never say never.

Haha, tbh I took ur call and bought Gold at around 1266 and closed it when it reached 1319 (that's before it first hit 1360). I guess I owe u a thx?

For Fed news, ya, it did push the Gold price, but only when the FOMC announcement was about 1 day close, and right after the announcement. When the ppl were expecting the Fed news, like 2-3 weeks before the announcement, the general trend seemed to be bearish for Gold, for around $40. As the last two announcements (Mar and early Dec) were quite dovish, 3 rate hikes were already fully priced in before the announcement (futures was showing 100% of 3 rate hikes before the announcement), also Fed did not hint much about the chance of 4 rate hikes during the announcement, Gold went up.

The next FOMC announcement should be interesting. The closer we get to the end of year, the higher chance they announce 4 rate hikes.

Gold for today

Bought some.
k

Agree, and sold, watch the 61.8 Fib:

Looks like it goes in the direction of my trade. If I don't get stopped out before, I intend to hold the trade for a few days.
Cheers,
k

Nope. 4R lost so far on these ideas. I don't understand the situation here/this market. Staying out.
Cheers,
k

There is often a sudden pullback and then reversal (like today) 30 mins into the us session. Usually around 61.8% against the recent top (same day or day before) on H1.

DXY made a new high, so gold could keep downwards, maybe. I have support 1329, 1317 and 1309 today.

XAU seems bullish right now. could still hit 1340 and above short term.

Nice work done!

You have predicted the short term movement correctly. It did go up to 1342 n then dropped like $12. Like kprsa, I also cut my loss at around 1335.9 (as I am a day trader). Now, waiting for a gd entry point for buy order as I still think gold, as the safe haven, is becoming more n more appealing with the current political climate and the bad news from Tech stock [Facebook, Tesla, Amazon, Twetter, etc.]

In the future, will try to link a demo account with live orders to ff as I realise my words are only as gd as the amount of green numbers on my profile.

Silver bounced off from 16.65 yet again. The precious metal has formed a quite clear channel between 16.10 and 16.65 so the consolidation itself can also be traded.