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

  • #46,361
  • Apr 4, 2018 12:16am Apr 4, 2018 12:16am
Gold for today
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  • #46,362
  • Apr 4, 2018 4:29am Apr 4, 2018 4:29am
Is this Another DeJaVu we have?
it jumps a bit higher than I thought, will it turn for another bear by tonight, well let's wait until ADP NF Release. and stay in ride in this roller coaster sideways
The Force is with me.. Im One With the Force..
  • #46,363
  • Apr 4, 2018 4:42am Apr 4, 2018 4:42am
Quoting Goldenshot
Is this Another DeJaVu we have? it jumps a bit higher than I thought, will it turn for another bear by tonight, well let's wait until ADP NF Release. and stay in ride in this roller coaster sideways
In 9 out of 10 cases, the tiny little orange 1 label is a bad sign for the bulls.
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More or less, the upwards movement is soon about to be over, if it is not already? But that 1 time, when is disrespected... Probably not today. I will wait, cause I am always looking for that 1 out of 10 times when rockets further?
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Maadik Hugiis. IQ 69.
  • #46,364
  • Apr 4, 2018 4:45am Apr 4, 2018 4:45am
Holding a Buy Order, TP at 1350.5

If, after the TP is reached, and there's still a plenty of time before the London market closes, may put in a new Buy order after a few dollars pushback from 1350.5, TP at 1355.90.
  • #46,365
  • Apr 4, 2018 5:19am Apr 4, 2018 5:19am
Gold currently sits right on the 61.8% retracement on H4, and there's a double top. So very tempting to sell (well, I just did hehe). But if I where them I would make a spike above the yesterdays top up to around 1347/48 or more and then make a big drop (because that would take out more orders).

If we are bullish, then possibly a pullback towards 1335/38 area in the beginning of us session before continue up.

Just my wild guess. GL.

According to daily pivot points next resistance levels at 1348 and 1354.
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
  • #46,366
  • Apr 4, 2018 6:26am Apr 4, 2018 6:26am
Quoting jorgen.fx
Gold currently sits right on the 61.8% retracement on H4, and there's a double top. So very tempting to sell (well, I just did hehe). But if I where them I would make a spike above the yesterdays top up to around 1347/48 or more and then make a big drop (because that would take out more orders).
Jorgen seems to be a good trader, most likely, a lot better than me! But today, we play for different teams...

Who else is selling it? We need more sellers, to make the magic work...
Maadik Hugiis. IQ 69.
  • #46,367
  • Apr 4, 2018 7:02am Apr 4, 2018 7:02am
This is my take on GC.
If GC holds below the breakout mark maybe it correlates with EUR/USD.
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  • #46,368
  • Edited 7:42am Apr 4, 2018 7:04am | Edited 7:42am
Hello Guys, there is a Gartley pattern forming for Gold.
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-._.-
  • #46,369
  • Apr 4, 2018 7:05am Apr 4, 2018 7:05am
Just closed the Buy order. Waiting for the ADP news to see if Gold goes down a bit, and then may Buy again.
  • #46,370
  • Apr 4, 2018 7:13am Apr 4, 2018 7:13am
While we are waiting for the ADP news, thought here's sth useful to share.


Quoting Cal123
1. China has been the largest buyer of US Treasury debt. With Trump's tax cut, there will surely be a huge deficit on US gov account in the coming year. Trump simply can't risk offending China. Yet, that idiot chose to play games with China, trying to make the trade war more serious by introducing an act to protect the IP rights this week. 2. For the food tariffs, once China chooses to tax US's soya input, this would hurt bad in the areas in US with major soya bean farms, which happen to be some of the major support of the Republicans....


https://www.bloomberg.com/news/articles/2018-04-03/u-s-china-tariff-list-takes-aim-at-technologies-beijing-covets

When China finally played the soybeans card, means shit just got real. I am still bullish on Gold at this point. (talking about weekly trend, unless sth drastic happens with Trade War)

FYI It's public holiday for this Thurs n Fri in both China n Hong Kong. So if the asia forex/stock market tmr sounds quieter than usual, or abnormal, for sth like Trade War, you may not wanna underestimate the impact of Trade War YET. If you do high frequency of trades in a day, you may wanna take a break from the asia market, and jump back in when the London market opens tmr. ( I didn't mean not to do trades now of cuz.)

One more thing, due to some changes in policies in China, the usual pathway for China citizens to invest in the Hong Kong stock market has been paused for the past 10 days, including today, and gonna be restarted next Mon. That can explain why the bullish movement of Gold wasn't as aggressive as expected last night (London time). My research is telling me that the major shareholders of China big companies' stock* were selling a lot of their shares in the Hong Kong stock market. But because the pause in the pathway I mentioned, individual shareholders in China couldn't sell their shares in the Hong Kong stock market for the past 10 days even when there's a series of bad news for stock, and this pathway will be reopened next Monday. It's highly likely these ppl would withdraw their money from Hong Kong stock market. //Hong Kong and Shanghai are key cities affecting the stock/forex market in Asia.//

*Lots of big China companies chose to do their IPO in Hong Kong because of the convenience with policies n Hong Kong being a tax haven...Highest amount of personal income tax in Hong Kong is around 16%...most get 12 %...that gives u an idea.

I would expect the Hong Kong stock market will start to crash somewhere next week because a huge amount of money is leaving the stock market (that is, if there's no positive progress on getting rid of Trade War before Mon). When the stock market crashes, gold goes up. That could be the outbreak of Gold from the 1305-1360 range.

*****Am a newbie...still have a lot to learn...So, don't trust my advice, trust your own judgement with the data and adopt a trading style that suits you.

Lastly, may the green always be with you!
  • #46,371
  • Apr 4, 2018 7:19am Apr 4, 2018 7:19am
If this is your own analysis, congratulations! Keep it up.

KP

Quoting Cal123
While we are waiting for the ADP news, thought here's sth useful to share. {quote} https://www.bloomberg.com/news/artic...beijing-covets When China finally played the soybeans card, means shit just got real. I am still bullish on Gold at this point. (talking about weekly trend, unless sth drastic happens with Trade War) FYI It's public holiday for this Thurs n Fri in both China n Hong Kong. So if the asia forex/stock market tmr sounds quieter than usual, or abnormal, for sth like Trade...
Do your homework, follow the footprints of smart money
  • #46,372
  • Apr 4, 2018 7:25am Apr 4, 2018 7:25am
Quoting KeenPips
If this is your own analysis, congratulations! Keep it up. KP {quote}
Thx KP! I am still a long way from being a trader with consistent profit, but I have faith that I will get there eventually. :]
  • #46,373
  • Apr 4, 2018 7:29am Apr 4, 2018 7:29am
It is hard to believe it will continue more further up...

4 possible tops vs 1 bottom... if not now, uturn will approach soon.
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Maadik Hugiis. IQ 69.
  • #46,374
  • Apr 4, 2018 7:43am Apr 4, 2018 7:43am
Quoting PhaseCapital
This is my take on GC. If GC holds below the breakout mark maybe it correlates with EUR/USD. {image} {image}
Yeah I pretty much sees it that way,
Overall, this past week underlined how the values of EUR/USD vs XAU/USD are linked one to another. This relationship can both elucidate how weak the euro is against the dollar and help anticipate investors’ propensity to flee to safe haven assets.

This upward moment in Gold that we have now testifies to the lack of confidence in both the Euro and USD. Gold has always become a serious sign of market sentiment and investor confidence.
The Force is with me.. Im One With the Force..
  • #46,375
  • Apr 4, 2018 7:46am Apr 4, 2018 7:46am
Quoting MoneyZilla
It is hard to believe it will continue more further up... 4 possible tops vs 1 bottom... if not now, uturn will approach soon. {image}
So I guess your hope and prayer has been answered then. last couple weeks you were praying that it will went up and rocketed into some high areas.
The Force is with me.. Im One With the Force..
  • #46,376
  • Apr 4, 2018 7:49am Apr 4, 2018 7:49am
I doubt if it is professional to trade based on hope. We'll do better by sound market analysis.

KP
Do your homework, follow the footprints of smart money
  • #46,377
  • Apr 4, 2018 7:55am Apr 4, 2018 7:55am
Guess what folks, Gold doesn't always go up when the market crashes. And sometimes gold even goes up when the market roars higher.
Look at 2011.

Nothing is ever X does this, Y does that - 100% of the time.
  • #46,378
  • Edited 8:55am Apr 4, 2018 8:31am | Edited 8:55am
Volks, do you remember which is most direction turning H4 London candle?

What will happen in that particular H4 candle today?

Another insight. Orange labels mean "Warnung! Achtung!" for the bulls...
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But timing?

Now little range, thanks Got. My auto system hates fast turns.

That is why hope and pray is vital for my trading...

I am now a full time seller. Told you! Jorgen is a lot better trader than me... Now we pray for going down with 10 bucks.... would be simply ideal!

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p.s. Remember Alexey Buk? From Ukraine with Love? Go-go Alex! Now we hope you are gonna make it right for Jorgen and me!
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Maadik Hugiis. IQ 69.
  • #46,379
  • Apr 4, 2018 9:20am Apr 4, 2018 9:20am
Quoting MoneyZilla
Volks, do you remember which is most direction turning H4 London candle? What will happen in that particular H4 candle today? Another insight. Orange labels mean "Warnung! Achtung!" for the bulls... {image} But timing? Now little range, thanks Got. My auto system hates fast turns. That is why hope and pray is vital for my trading... I am now a full time seller. Told you! Jorgen is a lot better trader than me... Now we pray for going down with 10 bucks.... would be simply ideal!...
The force is with us MZ, Master Yoda said..
do or do not there is no try.
So I used my believe and yeah I pray for 20 bucks to the south. guess it's time to keep reading the magic spell "the force is with me, I'm one with the force"...
Hey that's good and perfect song btw, thanks!
The Force is with me.. Im One With the Force..
  • #46,380
  • Apr 4, 2018 9:20am Apr 4, 2018 9:20am
Quoting MoneyZilla
Volks, do you remember which is most direction turning H4 London candle? What will happen in that particular H4 candle today? Another insight. Orange labels mean "Warnung! Achtung!" for the bulls... {image} But timing? Now little range, thanks Got. My auto system hates fast turns. That is why hope and pray is vital for my trading... I am now a full time seller. Told you! Jorgen is a lot better trader than me... Now we pray for going down with 10 bucks.... would be simply ideal!...
I chickened out my shorts at 1341 May the force be with you
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
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