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

Do you remember this warning and what had happened after it?


Now we are in similar situation. Both daily medians/averages are getting together.

Probably today, something seriously big or just big enough, is about to happen?

Lets pay closer attention to the situation.

This is late warning, but still, it is 10-20 bucks downfall warning...

FORECAST..........................................

Silver is still consolidating sideways around 14.30, I won't open another short position before there's a breakout below that level.

A point of view by a Heavily Addicted Gambler (me).

Yesterday, Mr. Banker allowed 2 buy TPs to take place ($6 each), from the round levels monitored. After 14 SLs hit ($3 each), in total, for those 2 round levels, at 1:2 RR.

Let me repeat, 14 SLs vs 2 TPs, for 2 round levels? LOL!

What we have here left is another 3 levels with 22 SLs hit altogether, so far. Not a single TP reached for those 3 round levels.

Recap: 36 SLs vs 2 TPs @ 1:2 RR

As you can see, Mr. Banker is no stupid... Are you? Do you still believe it, trading is 50:50? Candles are 50:50 (buy:sell). Still, is it really so in reality?

Forget it.

What's next?

To be honest, going upwards seems more natural, atm. Both daily average prices are facing North. Very unpleasant situation for me, unfortunately... This would eventually mean more range is about to come? And more DD. I do not know about that. I hope the range won't stay, but...

As you might not know it, but I always bet it right. Direction-wise. No doubt the monthly trend (when it moves and leaves the range) will be South.

What I can't catch is when exactly she will start falling? Until that blissful moment comes, DD will be my closest friend, apparently.

However, I am opened to some nice surprises. I am well prepared for the South movement and it will be very nice, if it starts sooner, rather than later.

Buyers vs Sellers (ratios on Gold ATM)

cTrader

Oanda

MyFXbook


Apparently I am taking the wrong side.
The majority of Gold's traders are from the Buyers Club.
As in Life, in forex, the majority is always right.

I want to apologize for misleading... myself, in a first place, and misleading those who read my posts here.
Please accept my sincere apologies.

It happens gold market is incredibly random because a institution can dump paper gold orders in the long side of trading or short side. So the consolidation period is the most tough one to trade

Cot report predicts gold up. That’s 2-3 weeks ago.

Once again I moved my stop loss to zero.
My first target is still 1240 before another dip in December, based on seasonal gold wave analysis of last 5 years

COT report supplies data, not predictions.

My Long side trade is still on with target from 1197 to @ 1240 since 6th Sept. Good Luck for all.

Festival time in india NAVRATRI so gold went up.

If that is the case, what happened last year?

No brother.. I know there is always huge demand of gold in India during such festivals but international gold rates never depend on that. There is no connection at all.

Linked ZeroHedge story on the news page had this line in it:

"Furthermore, this 'signal' comes at a time when the yuan is depreciating (in a non-manipulated manner according to US Treasury) against the dollar and as the petroyuan continues to rise in popularity, we are reminded of the apparent 'peg' that has developed between Yuan and gold..."

Gold Seasonality: The Low is near.

Sixer

Over how many years and/or decades is that calculated?

Gold, M5

Silver is still consolidating below 14.90 and it has formed a double top at that level so a new move to the downside is likely.

still holding on long at 1193, sir.

Gold consolidates around the 1222 level and forms what it appears to be a flag or pennant pattern. From the current level, the price of gold may head in any direction even though it is trying to keep its bullish momentum. To the upside, the 200 day EMA around the 1248 level may act as resistance, but the most relevant resistance is at the 1266 level where we can find the 200 week EMA. To the downside, the 1214 level, which was the upper boundary of the previous consolidation, may act as support.

Attached Image (click to enlarge)