XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2558 | Metals Mine

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

  • #51,141
  • Jul 18, 2019 6:06am Jul 18, 2019 6:06am
Quoting tush1822
{quote} All please do not get scared with position of 10 lots, its a demo account. I am a normal retail trader not an alien trader!!!
It's okay man, demo or not, at least you share some knowledges and worthy info here.
The Force is with me.. Im One With the Force..
  • #51,142
  • Jul 18, 2019 6:36am Jul 18, 2019 6:36am
Quoting tush1822
On a day chart, right angle triangle as flag forming, its bullish pattern with possible breakout upwards passing 1435 , I am buying the dips from 1420. Bullish movement relates to overall political situations!! {image}
As per my experience dealing with the traingles , after third touch , on fourth attempt it breaks out..and breakout direction mainly depends on the sentiments rather than strict rule. let's how this works out.
  • #51,143
  • Jul 18, 2019 6:44am Jul 18, 2019 6:44am
Quoting tush1822
{quote} As per my experience dealing with the traingles , after third touch , on fourth attempt it breaks out..and breakout direction mainly depends on the sentiments rather than strict rule. let's how this works out.
For instance this is already broke out as per my analysis. It will retest 1420 resistance.
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  • #51,144
  • Jul 18, 2019 7:23am Jul 18, 2019 7:23am
Quoting jailinandrea
{quote} i placed a sell in 1426 with a tp in 1411 while i wait
I don't blame you. Lock in some profits though as the swings and spikes me be present.....


Of particular interest right now is 1418 handle that we already knew would pose a challenge......still no hourly close below that so we can buy the level.
Previous hourly candle was green so we may just see an interim bounce.....trade safe
4&1 All Time Profit: $37,496
  • #51,145
  • Jul 18, 2019 8:47am Jul 18, 2019 8:47am
The Philly Fed Manufacturing Index came in a lot stronger then expected, shifting the fundamental direction for gold downwards.
21.8 5.0 0.3

Unemployment claims were also revised lower (only 1000, but still lower) then last month.

All in all, fundamentals currently point down, there is even potential for the market to fall significantly (If we only base ourselves on fundamentals right now)

The only fundamental thing going for gold right now is the fact that we're in a time of great economic uncertanty... however, intraday, it doesn't really matter.

I'm personally short selling gold (stop loss 1421-will lower it as market progresses) until around 1409-1410 or if the market requires me to close it before .
Through the light of enlightenment, darkness unveils the path of truth.
  • #51,146
  • Jul 18, 2019 8:57am Jul 18, 2019 8:57am
Gold seems to be sticking in a range from 1416 to 1421 for a while today. I am patiently trying to catch the lows and highs. Currently planning a limit buy at 1416.30 and hope to catch some upside. Up 7% today just playing the range.
If in doubt, paddle out!
  • #51,147
  • Jul 18, 2019 9:32am Jul 18, 2019 9:32am
Quoting tush1822
{quote} For instance this is already broke out as per my analysis. It will retest 1420 resistance. {image}
resumed the bullish movement, I think today and tomorrow it will cross 1435 mark.
  • #51,148
  • Jul 18, 2019 9:44am Jul 18, 2019 9:44am
Quoting SurfsUp
Gold seems to be sticking in a range from 1416 to 1421 for a while today.
Well that didn't last long. Heading north it seems.

Quoting tush1822
resumed the bullish movement, I think today and tomorrow it will cross 1435 mark.
I fear you may be right. I am upside down right now with shorts around 1421 and 1419. I missed this breakout.
If in doubt, paddle out!
  • #51,149
  • Jul 18, 2019 10:12am Jul 18, 2019 10:12am
Quoting SurfsUp
{quote} Well that didn't last long. Heading north it seems. {quote} I fear you may be right. I am upside down right now with shorts around 1421 and 1419. I missed this breakout.
If next 2 hours the H4 candle close above 1420, the breakout will be validated. Furthermore a day close above 1420 will add further confirmation. Technically as i said the close above 1420 will complete the last kiss to the breakout level of the Daily triangle flag pattern .

better close your short positions at the best time!! best luck.
  • #51,150
  • Jul 18, 2019 10:40am Jul 18, 2019 10:40am
I have a verry very risky long from 1426 as usual missed the whole rally becoz of fulltime job..... targeting anything close or above 1430..... i need this daily candle to close green.... ...
Extreme gut feeling trader
  • #51,151
  • Jul 18, 2019 10:47am Jul 18, 2019 10:47am
Quoting montygoldy
I have a verry very risky long from 1426 as usual missed the whole rally becoz of fulltime job..... targeting anything close or above 1430..... i need this daily candle to close green.... ...
Going long too, I feel it in mah bones.
  • #51,152
  • Edited 11:19am Jul 18, 2019 10:48am | Edited 11:19am
Quoting Metallurgy
{quote} Going long too, I feel it in mah bones.
Feeling relaxed.... closed in profit... will enter again
Extreme gut feeling trader
  • #51,153
  • Jul 18, 2019 11:25am Jul 18, 2019 11:25am
Swapping sides, sorry bulls!
  • #51,154
  • Jul 18, 2019 11:27am Jul 18, 2019 11:27am
I figure this may help someone here

Daily/Weekly gold chart
Price should continue upwards
I have been bullish on gold since 1200 area that is clearly seen as support
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #51,155
  • Jul 18, 2019 11:39am Jul 18, 2019 11:39am
May be there are a little bearish. Short with tigh STOP
It's life let's live and enjoy
  • #51,156
  • Jul 18, 2019 11:39am Jul 18, 2019 11:39am
It's getting divergence on h1. Need to see where current h1 candle will be closed
P.S. Trade with the discipline of Money Management and Risk Management.
  • #51,157
  • Jul 18, 2019 11:53am Jul 18, 2019 11:53am
Quoting Metallurgy
Swapping sides, sorry bulls!
Don’t give up on bulls this early man...i still believe daily candle gonna be green
Extreme gut feeling trader
  • #51,158
  • Jul 18, 2019 12:03pm Jul 18, 2019 12:03pm
Quoting farukh
It's getting divergence on h1. Need to see where current h1 candle will be closed
Short with SL 1431
P.S. Trade with the discipline of Money Management and Risk Management.
  • #51,159
  • Jul 18, 2019 12:54pm Jul 18, 2019 12:54pm
Dollar showed some muscles today but relax later Watch for the next few weeks, will be vital at confirming/rejecting the stronger USD by the day summer-fall thesis... which I bet/trade on This dollar component is much important component of the gold... historically... One of the reasons I am careful with gold (buy-trading) since I bet on the stronger USD by the day, no matter what they say/post in a relative short-term... Market(s) that exchange/trade in trillions, at least in weekly basis.. can not be taken hostage by anyone... They can play that in certain smaller markets or stocks.. but not in the FX division, no one (no country) rich enough to even SLIGHTLY dent it, in the long(er) run That is the beauty of it... Noone can OWN it, everyone can TRADE it... Can get massive loses of course but also, massive WINS...
Can you afford to take that chance?
  • #51,160
  • Jul 18, 2019 12:54pm Jul 18, 2019 12:54pm
the gold moves to the darkside now, from a galaxy far far away
i would say to you all
may the force be with you
The Force is with me.. Im One With the Force..
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