XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2533 | Metals Mine

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

  • #50,641
  • Jul 9, 2019 12:05pm Jul 9, 2019 12:05pm
Quoting pundit78
I am short on Gold TP 1368, SL -1411.
Makes sense.
I was away from the PC so didn't manage to get in on the 1400 level......
4&1 All Time Profit: $37,496
  • #50,642
  • Jul 9, 2019 1:13pm Jul 9, 2019 1:13pm
Quoting pundit78
I am short on Gold TP 1368, SL -1411.
Not a bad idea. If Powell comes out tomorrow suggesting no rate cut we could see 1,368 near term.

Plus, even if you get stopped out you've got a good R:R so I like the trade either way.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #50,643
  • Jul 9, 2019 1:14pm Jul 9, 2019 1:14pm
Wedge on h4

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P.S. Trade with the discipline of Money Management and Risk Management.
  • #50,644
  • Jul 9, 2019 2:21pm Jul 9, 2019 2:21pm
took a short entry at 1396, tp: 1393, sl: 1398, lots: XX
Extreme gut feeling trader
  • #50,645
  • Jul 9, 2019 2:55pm Jul 9, 2019 2:55pm
USD still seems to be getting stronger (slowly) by the day... but we I will wait for the whole week of data, specially the second part of this week, to make some draft conclusions. All people focused on FED now/still...

Till the end of the month of data, and after, hopefully.. this FED/Powell situation behind us, I would be confident to draw some high-probability estimations/re-affirmations for AUG, SEP, OCT... Which is, according to the current data... USD uptrend... not by much, so not to cause drama, but slowly but surely... UP... aka DOWNTREND(s)s for the PAIRS that have USD as the bottom EURUSD etc...
Can you afford to take that chance?
  • #50,646
  • Jul 9, 2019 7:02pm Jul 9, 2019 7:02pm
Quoting montygoldy
took a short entry at 1396, tp: 1393, sl: 1398, lots: XX
Anyone selling? I am still holding this... hoping to touch tp
Extreme gut feeling trader
  • #50,647
  • Jul 9, 2019 7:11pm Jul 9, 2019 7:11pm
Quoting montygoldy
{quote} Anyone selling? I am still holding this... hoping to touch tp
Me
  • #50,648
  • Jul 9, 2019 7:12pm Jul 9, 2019 7:12pm
Quoting montygoldy
{quote} Anyone selling? I am still holding this... hoping to touch tp
yes and you should have your TP hit now!!!!
Stay green!!!
  • #50,649
  • Jul 9, 2019 7:14pm Jul 9, 2019 7:14pm
Stronger USD does not necessary mean cheaper gold.
Maadik Hugiis. IQ 69.
  • #50,650
  • Jul 9, 2019 7:18pm Jul 9, 2019 7:18pm
Quoting montygoldy
{quote} Anyone selling? I am still holding this... hoping to touch tp
Yeah, i sold too, at 1395. I would actually hold it beyond your take profit. I'll probably do some kind of manual trailing stop loss for tonight.
Through the light of enlightenment, darkness unveils the path of truth.
  • #50,651
  • Jul 9, 2019 7:48pm Jul 9, 2019 7:48pm
Quoting Froggy
{quote} yes and you should have your TP hit now!!!!
Sl is in profit now ... will let it run till 1390
Extreme gut feeling trader
  • #50,652
  • Jul 9, 2019 7:56pm Jul 9, 2019 7:56pm
I just closed half of my at 1392.50. As for the other half pretty much the same as monty, i've put a stop loss at 1394.5 (also in profit) and a take profit at 1390.
Through the light of enlightenment, darkness unveils the path of truth.
  • #50,653
  • Jul 9, 2019 8:15pm Jul 9, 2019 8:15pm
Quoting montygoldy
{quote} Sl is in profit now ... will let it run till 1390
Closed the trade...
ps. I am not trying to prove anything but anyone asking me live or demo can see the withdrawal request...
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Extreme gut feeling trader
  • #50,654
  • Jul 9, 2019 8:29pm Jul 9, 2019 8:29pm
Bounced off 1392..
If you want in on my experimental EA, PM me.
  • #50,655
  • Jul 9, 2019 9:14pm Jul 9, 2019 9:14pm
Quoting MoneyZilla
Stronger USD does not necessary mean cheaper gold.
Very true. And when they are both moving in tandem it can be a tough market to get a handle one.

However, when there's a large move in the US dollar it will likely be accompanied with a move in gold in the opposite direction. I think that there's a chance we may see a significant move in the US dollar if Powell triggers the market reduce their bets on future rate cuts. I posted a preview for the FOMC minutes which doesn't seem to offer much opportunity.

After posting the preview for Powell's testimony, that's the one I'll be focusing on. It's going to be worth watching. Good luck!
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #50,656
  • Jul 9, 2019 9:44pm Jul 9, 2019 9:44pm
Quoting MoneyZilla
Stronger USD does not necessary mean cheaper gold.
True, but order flow will see a weaker gold, albeit cyclical
4&1 All Time Profit: $37,496
  • #50,657
  • Jul 9, 2019 9:46pm Jul 9, 2019 9:46pm
Quoting montygoldy
{quote} Closed the trade... ps. I am not trying to prove anything but anyone asking me live or demo can see the withdrawal request... {image}
Lol you ignored my question yesterday, why not just set up a trade explorer?
4&1 All Time Profit: $37,496
  • #50,658
  • Jul 9, 2019 10:05pm Jul 9, 2019 10:05pm
Quoting RegisMexes
Bounced off 1392..
That 1393 handle is very key for bulls, continued close above that on hourly is needed for them, to keep tracking higher..

Just got a couple of things I'm looking at, on the daily, got a buy signal as price has entered buy zone,
Yesterday's daily bar printed a bullish hammer, and prices been bouncing off of support.......will daily bulls kick in or 4hourly bears push us lower.
A break and close of 1387.95 could see bears push this thing lower....
Was thinking we would see 1382 yesterday but we didn't get lower than 1385......

Hourly.....flat to bullish so will wait out and look at getting inaround 4hourly sell zone......
4&1 All Time Profit: $37,496
  • #50,659
  • Jul 9, 2019 10:05pm Jul 9, 2019 10:05pm
Quoting EventsTrader
After posting the preview for Powell's testimony, that's the one I'll be focusing on. It's going to be worth watching. Good luck!
Absolutely. He'll probably do his best not to rock the market, but he's going to have to choose his words extra carefully because the whole world will be watching.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #50,660
  • Jul 9, 2019 10:11pm Jul 9, 2019 10:11pm
Quoting MoneyZilla
Stronger USD does not necessary mean cheaper gold.
That's a fair point, but I think it is generally truer over longer time frames. Intraday I'd think a stronger dollar, as measured by other currencies, would have to mean cheaper gold simply due to the arbitrage opportunity that would arise.
Self-sufficiency is the greatest of all wealth. - Epicurus
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