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

  • #50,621
  • Jul 9, 2019 12:41am Jul 9, 2019 12:41am
Quoting MzansiObi
{quote} Nice one bud. Why don't you create a TE? Morning gang, Off of the hourly, selling 1396 TP open. Hard Stop for this short will be at 1401. 4hourly short comes in at around 1404. Trade safe
nothing to do with gold >> usd/try sell
people leave, but this thread will go on for ever
  • #50,622
  • Jul 9, 2019 1:07am Jul 9, 2019 1:07am
Quoting MzansiObi
{quote} Nice one bud. Why don't you create a TE? Morning gang, Off of the hourly, selling 1396 TP open. Hard Stop for this short will be at 1401. 4hourly short comes in at around 1404. Trade safe
Just a side bar;
should we see 1383, will look at what PA does, will we continue lower or bounce back up, so may consider cashing out then, and maybe a few buy dips....... for now closing half position of 1396 trade Stops at BE.

On to the next one......
4&1 All Time Profit: $37,496
  • #50,623
  • Jul 9, 2019 4:19am Jul 9, 2019 4:19am
Long 1387.76,

Hedge trade against running sell order.
SL on Buy trade, 1380

Will be watching Price Action @ 1382 to load more buys
4&1 All Time Profit: $37,496
  • #50,624
  • Jul 9, 2019 5:02am Jul 9, 2019 5:02am
Down
https://t.me/GoldMaxFX
  • #50,625
  • Jul 9, 2019 5:57am Jul 9, 2019 5:57am
Quoting MzansiObi
Long 1387.76, Hedge trade against running sell order. SL on Buy trade, 1380 Will be watching Price Action @ 1382 to load more buys
Closing half of the 1387.76 long stop moved to BE.
Both long and short trades running risk free.
Market will decide which gets taken out first....if we continue dropping will still look for buy setups as price is currently on a buy zone on the daily
4&1 All Time Profit: $37,496
  • #50,626
  • Jul 9, 2019 6:22am Jul 9, 2019 6:22am
I believe that the market is at a divide between a no rate cut and an insurance rate cut, i'd say a 50bps cut is out of the question unless this week's data disapoints.

Focus on monetary policy comes front and center next week as Chair Powell delivers his semi-annual testimony before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday.

Additionally, the minutes to the June FOMC meeting are published today. Keeping rates unchanged in June, the Fed clearly shifted tact and indicated they are prepared to ease monetary policy at upcoming meetings due to increased uncertainty over the outlook. I suspect Chair Powell will reiterate those same concerns to Congress, thereby keeping the door open to a rate cut at the July FOMC meeting.

In regards to the meeting minutes, interest will be high for any additional details on the balance sheet that could suggest an earlier end to tapering or further discussions on the equilibrium size and composition.

If Powell indeed does "confirm" a rate cut, we should expect a buy at least up to around 1407$, however it matters a lot how he communicates it, if he appears to be undecisive then that conclusion isn't valid. Remember: Powell is under great pressure from the White House to cut rates, even though he may not want it, i believe he is "forced" to do it regardless of data. However, i always wait to hear the actual news and then trade, never trade the rumour or speculation.

Regards, Vorenzd.
Through the light of enlightenment, darkness unveils the path of truth.
  • #50,627
  • Jul 9, 2019 7:23am Jul 9, 2019 7:23am
are we gonna touch 1400? I am thinking of opening a long.
Extreme gut feeling trader
  • #50,628
  • Jul 9, 2019 7:29am Jul 9, 2019 7:29am
Quoting montygoldy
are we gonna touch 1400? I am thinking of opening a long.
Dear montygoldy,

I have a long from 1390, i'm going to close it now ahead of Powell's speech and then might re open it later. While the outlook does appear to be bullish, if i were you i'd wait until after the speech, there will be audience questions and there is no way to know how it will go. It's going to be in 15 minutes, you can watch it live here: https://www.federalreserve.gov/newsevents/speeches.htm

Regards, Vorenzd.
Through the light of enlightenment, darkness unveils the path of truth.
  • #50,629
  • Jul 9, 2019 7:31am Jul 9, 2019 7:31am
Quoting montygoldy
are we gonna touch 1400? I am thinking of opening a long.
I opened already TP 1402 SL manual
The Force is with me.. Im One With the Force..
  • #50,630
  • Jul 9, 2019 7:32am Jul 9, 2019 7:32am
Quoting montygoldy
are we gonna touch 1400? I am thinking of opening a long.
Will pull the hammer @ 1400 (coincide with 4hr chart sell setup forecast,)for another short bud.....
Hourly giving me a sell at the moment may add a short here, and then wait for 4hrly sell zone to load more
4&1 All Time Profit: $37,496
  • #50,631
  • Jul 9, 2019 7:33am Jul 9, 2019 7:33am
Quoting Goldenshot
{quote} I opened already TP 1402
Me too @Vorenzd i went with my guts... lets see entry 1394, tp1: 1397, tp2: 1400, sl: 1392, lots: XX....
Extreme gut feeling trader
  • #50,632
  • Jul 9, 2019 7:40am Jul 9, 2019 7:40am
Bulls need us to stay above 1393 to continue north, failing which down we go again.......

But the tussle between bulls(daily buy zone) and bears(4hr, 1hour chart and South Pointing RSi on daily)
4&1 All Time Profit: $37,496
  • #50,633
  • Jul 9, 2019 7:46am Jul 9, 2019 7:46am
Quoting montygoldy
{quote} Me too @Vorenzd i went with my guts... lets see entry 1394, tp1: 1397, tp2: 1400, sl: 1392, lots: XX....
Hovering close to my sl ....
Extreme gut feeling trader
  • #50,634
  • Jul 9, 2019 7:56am Jul 9, 2019 7:56am
Quoting MzansiObi
{quote} Will pull the hammer @ 1400 (coincide with 4hr chart sell setup forecast,)for another short bud..... Hourly giving me a sell at the moment may add a short here, and then wait for 4hrly sell zone to load more
Closing half of second 1394.46 sell. SL at BE.

All three trades running risk free. Have got two shorts and a long. So would prefer a move lower........ Daily buy zone still holding this far......
4&1 All Time Profit: $37,496
  • #50,635
  • Jul 9, 2019 10:02am Jul 9, 2019 10:02am
Quoting montygoldy
{quote} Hovering close to my sl ....
I just hope you havent close that man
Im on floating profit flying closely to my TP
The Force is with me.. Im One With the Force..
  • #50,636
  • Jul 9, 2019 10:08am Jul 9, 2019 10:08am
Quoting Goldenshot
{quote} I just hope you havent close that man Im on floating profit flying closely to my TP
no man i took a risk with my guts took tp1... day done....
Attached Image (click to enlarge)
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Extreme gut feeling trader
  • #50,637
  • Jul 9, 2019 10:10am Jul 9, 2019 10:10am
Quoting montygoldy
{quote} no man i took a risk with my guts took tp1... day done.... {image}
Well alright man, glad to hear that, cheers
That's very nice profit youve made
The Force is with me.. Im One With the Force..
  • #50,638
  • Jul 9, 2019 10:11am Jul 9, 2019 10:11am
Quoting Goldenshot
{quote} Well alright man, glad to hear that, cheers That's very nice profit youve made
My guts is pushing me to open a new long for 1400 + target....
Extreme gut feeling trader
  • #50,639
  • Jul 9, 2019 11:53am Jul 9, 2019 11:53am
I am short on Gold TP 1368, SL -1411.
  • #50,640
  • Jul 9, 2019 12:00pm Jul 9, 2019 12:00pm
Quoting pundit78
I am short on Gold TP 1368, SL -1411.
By the end of this month, this is very much possible
P.S. Trade with the discipline of Money Management and Risk Management.
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