Trading is not for everyone.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #47,383
- Aug 27, 2018 3:15pm Aug 27, 2018 3:15pm
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-635
- #47,389
- Aug 29, 2018 1:50am Aug 29, 2018 1:50am
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
I only trade XAU/USD. Based on USD news & Fib SR & BB20
- #47,391
- Aug 29, 2018 8:46am Aug 29, 2018 8:46am
Doing long today with tight stop. I'd say there's a 50% potential reversal to downside later today but who knows? that would be a different trade when it happens.
Never marry a trade.
Never marry a trade.
Trading is not for everyone.
- #47,394
- Sep 2, 2018 2:52pm Sep 2, 2018 2:52pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
Here's my take on the XAUUSD from a technical perspective.
On the H4 time frame, price action is operating in an ascending wedge (magenta). Presently it is located around wedge support but the lower wicks on the most recent candlesticks indicate the likelihood of some northward move, perhaps to retest the wedge resistance or the resistance zone around the 1208.15 area. Given the higher time frame’s bearish disposition, we may see the bears seize the initiative after the brief northward pullback. A possible initial target of a bearish drive is the horizontal support around the 1282.20 area, which may extend to the 1169.40 area. I am bearish XAUUSD.
I may be wrong. Trade safe and prosper.
KP
On the H4 time frame, price action is operating in an ascending wedge (magenta). Presently it is located around wedge support but the lower wicks on the most recent candlesticks indicate the likelihood of some northward move, perhaps to retest the wedge resistance or the resistance zone around the 1208.15 area. Given the higher time frame’s bearish disposition, we may see the bears seize the initiative after the brief northward pullback. A possible initial target of a bearish drive is the horizontal support around the 1282.20 area, which may extend to the 1169.40 area. I am bearish XAUUSD.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #47,395
- Sep 2, 2018 8:44pm Sep 2, 2018 8:44pm
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #47,396
- Edited 3:02am Sep 4, 2018 2:33am | Edited 3:02am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #47,397
- Sep 4, 2018 6:17am Sep 4, 2018 6:17am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #47,398
- Sep 4, 2018 9:07am Sep 4, 2018 9:07am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #47,399
- Sep 4, 2018 10:03pm Sep 4, 2018 10:03pm
Silver has broken below the 14.31 level and reaches the 14.00 level, which could act as support as shown on the daily chart. The rally on the Dollar and the trade war between the US and China has pressured the commodities sector and the precious and industrial metals. The support level at the 14.31 zone could act as resistance. Above the 14.31 level, the most relevant resistance is the 15.00 level. In case of continuing dropping, the price of silver may accelerate its bearish momentum to the 13.50 level.
- #47,400
- Sep 5, 2018 10:15am Sep 5, 2018 10:15am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.