XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2359 | Metals Mine

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

  • #47,161
  • Jul 22, 2018 2:12pm Jul 22, 2018 2:12pm
GOLD / US DOLLAR
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life is short.enjoy your coffee...
  • #47,162
  • Jul 22, 2018 2:53pm Jul 22, 2018 2:53pm
Here's my take on GOLD, from a technical perspective.

The bearish momentum seen on the XAUUSD market in June 2018 has waned. Price action on the daily time frame printed a bullish pinbar on Thursday last week around a major horizontal support and it saw a follow-through on Friday with a bullish engulfing candlestick. We are likely to see a bullish continuation this week. A likely target of bulls is the former support zone around 1263.30/1285.10 (bound by magenta horizontal lines). We should also be aware of the descending trendline (black) from the high of May 2018, which may act as resistance.

I am bullish XAUUSD.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #47,163
  • Jul 22, 2018 6:23pm Jul 22, 2018 6:23pm
I see resistance right above @ 1232.40-1236.40 and support down @ 1204.90-1200.60:-
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  • #47,164
  • Jul 22, 2018 7:44pm Jul 22, 2018 7:44pm
Quoting coderr
[email protected] 1238-1243-1245 {image}
  • #47,165
  • Jul 23, 2018 5:04am Jul 23, 2018 5:04am
The latest Price Projections from Gold Guru Martin Murenbeeld.
I favour scenario "B".

Sixer
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  • #47,166
  • Jul 23, 2018 5:29am Jul 23, 2018 5:29am
I can't see any reasons at the moment to be anything else but short Gold. Been short bias since 1.309. just shorted again at 1233. I usually focus on currencys but when i see good swing Trades i take them.
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  • #47,167
  • Jul 23, 2018 5:41am Jul 23, 2018 5:41am
Quoting dn1977
I can't see any reasons at the moment to be anything else but short Gold. Been short bias since 1.309. just shorted again at 1233. I usually focus on currencys but when i see good swing Trades i take them. {image}
I am looking for a gold short as well however I tend to wait for price to retrace to the 61.8 fib (around 1245.11) , or at least see divergence so I am flat for now.
Get in the Zone and stay there..
  • #47,168
  • Jul 23, 2018 5:59am Jul 23, 2018 5:59am
Gold and the Dollar dropping together. For those who care about such a thing, I don't for squiggly lines, Gold had a death cross recently (50 DMA crossing 200 DMA) and is down 6% for the year so far.
  • #47,169
  • Jul 23, 2018 6:15am Jul 23, 2018 6:15am
Quoting haroros
{quote} I am looking for a gold short as well however I tend to wait for price to retrace to the 61.8 fib (around 1245.11) , or at least see divergence so I am flat for now.
Gold did hit 61.8 fibb and nearly the 78.6. but obviously it depends in what swing that you use.
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  • #47,170
  • Jul 23, 2018 6:20am Jul 23, 2018 6:20am
Quoting dn1977
{quote} Gold did hit 61.8 fibb and nearly the 78.6. but obviously it depends in what swing that you use. {image}
I'm measuring my swing from the 1265.91 high.
Get in the Zone and stay there..
  • #47,171
  • Jul 23, 2018 6:55am Jul 23, 2018 6:55am
Quoting dn1977
I can't see any reasons at the moment to be anything else but short Gold. Been short bias since 1.309. just shorted again at 1233. I usually focus on currencys but when i see good swing Trades i take them. {image}
Let wee if Gold has just completed wave 3 down and move up short term as wave 4 ,
or Move up as wave 1 (part of up trend) ... Only Press. Trump will know ;-(

https://ig.com/sg/indices/markets-in...latility-index
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  • #47,172
  • Jul 23, 2018 7:47am Jul 23, 2018 7:47am
Quoting klkk
{quote} Let wee if Gold has just completed wave 3 down and move up short term as wave 4 , or Move up as wave 1 (part of up trend) ... Only Press. Trump will know ;-( https://ig.com/sg/indices/markets-in...latility-index {image}
Could well be mate, but i see 1236 as a major support level that has now been broken, could be a freefall to 1196.00 as we know in trading anything can and will happen.
  • #47,173
  • Jul 23, 2018 7:51am Jul 23, 2018 7:51am
Quoting klkk
{quote} Let wee if Gold has just completed wave 3 down and move up short term as wave 4 , or Move up as wave 1 (part of up trend) ... Only Press. Trump will know ;-( https://ig.com/sg/indices/markets-in...latility-index {image}

Trade safe same time me to wrong
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life is short.enjoy your coffee...
  • #47,174
  • Jul 23, 2018 11:27am Jul 23, 2018 11:27am
Silver is moving to the downside again, the question is whether it will form a double bottom at 15.15 and bounce off from that level or it will break out below it and continue falling.
  • #47,175
  • Jul 23, 2018 12:52pm Jul 23, 2018 12:52pm
Quoting coderr
long-term sl:1200 tp1:1272 TP2:1306 pattern:BAT {image}
Buy-again
sl:1218
  • #47,176
  • Jul 24, 2018 10:14am Jul 24, 2018 10:14am
Quoting klkk
{quote} Let wee if Gold has just completed wave 3 down and move up short term as wave 4 , or Move up as wave 1 (part of up trend) ... Only Press. Trump will know ;-( https://ig.com/sg/indices/markets-in...latility-index {image}

Could be a 5 Wave move already?
Cheers, U2
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Wait, or you will be slaughtered!
  • #47,177
  • Jul 24, 2018 10:23am Jul 24, 2018 10:23am
Quoting coderr
{quote} Buy-again sl:1218
SELL
  • #47,178
  • Jul 24, 2018 11:04am Jul 24, 2018 11:04am
Another possible look at EL Wave count:
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  • #47,179
  • Jul 24, 2018 12:19pm Jul 24, 2018 12:19pm
Silver is still consolidating above 15.15, but it may test that support yet again.
  • #47,180
  • Jul 24, 2018 2:02pm Jul 24, 2018 2:02pm
H1
GOLD
SL:1223
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