How about the Timbuktu index? Keep it up.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #47,601
- Nov 6, 2018 5:52pm Nov 6, 2018 5:52pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #47,602
- Nov 6, 2018 5:54pm Nov 6, 2018 5:54pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #47,606
- Nov 7, 2018 12:56pm Nov 7, 2018 12:56pm
Gold narrows its range. After breaking above the 55 day EMA at the 1218 level, gold consolidates and starts a sideways movement for approximately one month, until it narrowed its range little by little. The price of gold consolidates just between the 55 day EMA at the 1218 level and the 200 day EMA at the 1246 level. From the current price at the 1227 level, gold could head in any direction. Global demand for gold has gone down and for now investors are preferring other safe haven assets over the precious metal. If the price of gold breaks below the 1218 level, then its next support could be the 1200 level, followed by the 1180 level. Above the 200 day EMA, its next resistance could be the 1263 level where we can find the 200 week EMA.
Gold narrows its range. After breaking above the 55 day EMA at the 1218 level, gold consolidates and starts a sideways movement for approximately one month, until it narrowed its range little by little. The price of gold consolidates just between the 55 day EMA at the 1218 level and the 200 day EMA at the 1246 level. From the current price at the 1227 level, gold could head in any direction. Global demand for gold has gone down and for now investors are preferring other safe haven assets over the precious metal. If the price of gold breaks below...
my guess is more towards 1263 level
- seasonal swing of gold price
- if we make fib on last years high and low price, we have 61.8 on around 1263 level
Now lets see..
P.S. Trade with the discipline of Money Management and Risk Management.
- #47,608
- Edited 8:43am Nov 8, 2018 12:59am | Edited 8:43am
- Joined Nov 2008 | Status: Trader | 1,757 Posts
- #47,612
- Nov 9, 2018 9:07am Nov 9, 2018 9:07am
Oops!!! Gold can down to 1200$ {image}
What do you think?
We can't control the sea, but we can learn how to surf the waves.
- #47,618
- Nov 11, 2018 10:02am Nov 11, 2018 10:02am
- Joined Jun 2015 | Status: Trader | 14,961 Posts
Gold drops below the 55 day EMA at the 1218 to the 1209 if it continues dropping, the 1200 level may act as support. Below the 1200, its next support level could be the 1180 zone. To the upside, the 200 day EMA around the 1246 level may act as resistance.
1200 will be taken of course...
Beware of robber banks (RB), bad advisors. 