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

re-entry 1293.21. perhaps 2nd target on the cards

very strange, fomc said now they cant see inflation. in china you saw how bad today. Gold keeps going i think only for fear of crash in markets and dollar index weakeness. It should change

On daily chart, it is making flag pattern. if it breaks 1300 level, next level could be 1320 and if it breaks 1278 level then target would be 1265.
@1265 we will have buy again. uptrend may continue until 1240 breaks down in current range.

Here's my technical viewpoint on XAUUSD as a short-term swing trader.

The XAUUSD market is technically disposed northward. On the weekly time frame, price action since November 2018 has largely been under the influence of bulls. However, as it reaches a horizontal resistance around 1300.00 the bullish momentum is waning; reflected in the miniature candlesticks formed on the weekly time frame in the past two weeks. We may see a southward pullback this week.

Price action on the H4 time frame has moved further northward away from an outer ascending trendline (black) seen on the daily time frame and an inner one (red) is now in play. Presently, a wedge pattern (magenta) has been formed and price action is printing topping candlesticks within it. This may give way to a southward pullback in the early part of this week.


I may be wrong. Trade safe and prosper.


KP

Silver path

It seems to me that gold is making higher lows; plus last night's dump was immediately bought up, so I'm looking for a buy entry. As long as we stay above 1290, I believe another strong impulse wave to 1337 is in the pipes. No matter what, I believe 1285 will be a strong support for at least the remaining of January.

January 14, 2019 at 21:36 (GMT+7)

Sun transits From Dhanu to Makara, Gold will going Down

Target 1 @1274-1279

Don't follow this buy signal

tp: 1304.76
op: 1294.18
sl: 1290.68

Gold looks for south starting from tomorrow. Gold is showing weakness around the weekly zone and the USD index is rising again after a significant retrace which should provide a good opportunity for shorting gold at a high price. The longer term trend in gold is still in favor of the bulls.

I share your view too, but I’m wondering if Brexit risk my cause a rally in gold. Or would money move to dollar, yen or Swiss franc?

im amazed, in china no inflation, in usa too, uk today not much, but gold keep holdiing

If I was long gold, which I am not, I wouldn't like that weekly inside bar. Looks like a nice place to short ...

IMO Gold is not showing any clear signal long OR short at the moment.

What it has been doing for more than a week now is consolidating and trying to decide the next big move.

my prop indicators are looking for a short too, so that combo seems very likely ... also i have a verlong target of 1035 but that could take a few years

gold still consolidation in symetrical triangle pattern.. i'll try short around 1295..

Same here. Target would be 1290/1291
Booked profit at 1293, bought at 1288.

Hi Guys, I am new to this group. I wish to trade only XAU/USD for now. Doing in demo platform. Any tips that may help me. TIA