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

  • #51,421
  • Jul 25, 2019 6:38am Jul 25, 2019 6:38am
Quoting Marcieny
{quote} salespeople may be expecting a 1450 retest
iam one of salespeople
  • #51,422
  • Jul 25, 2019 6:46am Jul 25, 2019 6:46am
I see a falling dollar approaching too
  • #51,423
  • Jul 25, 2019 6:57am Jul 25, 2019 6:57am
Stopped out.......
Will wait for news to simmer
Next 4hourly close very NB now
4&1 All Time Profit: $37,496
  • #51,424
  • Jul 25, 2019 7:02am Jul 25, 2019 7:02am
fall eur / usd is rising xau / eur ... and taking xau / usd along.
  • #51,425
  • Edited 8:15am Jul 25, 2019 7:12am | Edited 8:15am
XAU/USD MARKET UPDATE:

Be careful if you are buying/ planning to buy gold quoted in USD on ECB data, if this USD data comes in stronger then expected (which i believe it should), gold could be dragged down as the USD grows stronger.

The full post with my event forecast and a bit of economic background is here (so i don't have to repost it): https://www.metalsmine.com/showthrea...1#post12402711

My forecast is that Durable Goods orders should come in stronger then the consensus. Another thing to add is that gold just touched the 50 fibo retractment zone from the last downturn. (timeframe=H1)... so we might get a fundamental reason to sell at 14:30 CET, and we already have a technical reason for shorting gold.

Be careful and stay green!
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Through the light of enlightenment, darkness unveils the path of truth.
  • #51,426
  • Jul 25, 2019 7:37am Jul 25, 2019 7:37am
I Don't trust this rally.....
Volume and order flower failing to carry it through higher....
Thinking 1432.5 stops were too conservative.
messed up resistance count. R2 is 1433.4 stops ought to have been slightly above that*ouch.....

Let's get back at it......
4&1 All Time Profit: $37,496
  • #51,427
  • Jul 25, 2019 8:06am Jul 25, 2019 8:06am
Quoting MzansiObi
Stopped out....... Will wait for news to simmer Next 4hourly close very NB now
Also stopped out but entered short 1429 to try and get some of the selling action. Looking good so far
  • #51,428
  • Jul 25, 2019 8:07am Jul 25, 2019 8:07am
Quoting MzansiObi
I Don't trust this rally..... Volume and order flower failing to carry it through higher.... Thinking 1432.5 stops were too conservative. messed up resistance count. R2 is 1433.4 stops ought to have been slightly above that*ouch..... Let's get back at it......
Someone just asked what I mean by too conservative.... I mean that given the fact that we have a rate announcement....we can expect increased volatility. As such R1 is at 1430 and considering how the handle has been acting as resistance all week. With increased volatility we should expect that there may be wicks such as the one that occured.
Hope that clarifies.....
4&1 All Time Profit: $37,496
  • #51,429
  • Jul 25, 2019 8:08am Jul 25, 2019 8:08am
Quoting Chart1st
{quote} Also stopped out but entered short 1429 to try and get some of the selling action. Looking good so far
Selling was never a bad idea it was just pure maths miscalculation......glad you got back onboard. This 4hourly bar may just close with a moerse wick....trade safely.
4&1 All Time Profit: $37,496
  • #51,430
  • Jul 25, 2019 8:10am Jul 25, 2019 8:10am
Quoting MzansiObi
I Don't trust this rally..... Volume and order flower failing to carry it through higher.... Thinking 1432.5 stops were too conservative. messed up resistance count. R2 is 1433.4 stops ought to have been slightly above that*ouch..... Let's get back at it......
Finally made it all back with dividends ! 15hrs today time to relax!
Stay green!!!
  • #51,431
  • Jul 25, 2019 8:16am Jul 25, 2019 8:16am
Make a buy at 1422. Would prefer 1420. Set a buy limit.
Doesn't seem correlated at all. Going to average out to
Profit.
The economy doesn't seem good and is much worse after
The trade war. Damage upon damage. My country is my indicator and the import export are declining.

Asia and London pump up. Us pump down and probably 3/4up like yesterday.. Hopefully
  • #51,432
  • Jul 25, 2019 8:17am Jul 25, 2019 8:17am
Quoting Froggy
{quote} Finally made it all back with dividends ! 15hrs today time to relax!
Lols nicely done. Keep the momentum going.
Patience with those levels 'y......enter/trade with sniper like instincts....hehehe
4&1 All Time Profit: $37,496
  • #51,433
  • Jul 25, 2019 8:22am Jul 25, 2019 8:22am
Quoting MzansiObi
{quote} Lols nicely done. Keep the momentum going. Patience with those levels 'y......enter/trade with sniper like instincts....hehehe
Got over 800p so i am done....
Stay green!!!
  • #51,434
  • Jul 25, 2019 8:52am Jul 25, 2019 8:52am
Daily buy area has come into play now.
Scaling out of some shorts may not be a bad idea.... Will begin buying dips as hedge trades.....
And leave some on the table.......patience
4&1 All Time Profit: $37,496
  • #51,435
  • Jul 25, 2019 9:59am Jul 25, 2019 9:59am
Quoting MzansiObi
Daily buy area has come into play now. Scaling out of some shorts may not be a bad idea.... Will begin buying dips as hedge trades..... And leave some on the table.......patience
That daily buy zone DOES mean business...........
Outlook hasn't changed though....
Previous monster candle on 4hourly chart still showing bears are still in for.a fight....will continue selling rallies......

4hourly chart has also carved out what we saw on hourly chart....what appears to be a head and shoulders setup....let's see if the neckline breaks

The magenta trendline shows the bearish wedge formation that's been forming and the red arrow gives us indication of the fake wick that went on a stop run before coming back down in our initial direction. So expecting a possible retest of that break out on the trendline and from there will be looking to load more shorts as we have clearly seen the bearish rejection from on top.

RSI still pointof lower and that trendline is the same one that was placed beginning of the month and interesting to see how it has stayed within it....

Right now:
R1: 1430
R2:1433.4
R3:1438.6

Let's trade safely and continue bagging pips......
Well-done to the guys that bagged the bullish run and those that got on the bear run.....
Market has money both ways......
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4&1 All Time Profit: $37,496
  • #51,436
  • Jul 25, 2019 10:42am Jul 25, 2019 10:42am
I'm hoping to break the lta of the week to sell .. and it seems the price has touched her
  • #51,437
  • Jul 25, 2019 10:50am Jul 25, 2019 10:50am
GOLD DROPS FROM 6-DAY HIGHS TO TEST WEEKLY LOWS
25 July 2019, 17:59

 

  1. Following a reversal in US yields, gold tumbles to test weekly lows.
  2. XAU/USD fails at $1430, finds support at $1415, remains in range.

Gold is having a volatile day, on the back of the European Central Bank meeting and US data. Initially, the yellow metal jumped to $1433.70/oz, the highest level since last Friday and then retreated sharply, falling to $1415.
As of writing, trades at $1420, marginally lower for the day. Price remains in a range, facing a strong resistance at the $1430 barrier and with a critical short-term support at $1415. A close above $1430 would clear the way to more gains while on the downside, the outlook favors more losses below $1415.
XUA/USD spiked higher when Mario Draghi, European Central Bank President, was speaking at the post-meeting press conference. The signals of the announcement of a stimulus package at the next meeting triggered a decline in European bonds and boosted gold. The reversal took place amid a rebound in US yields. The US 10-year rose from 2.02% (lowest since July 8th) to 2.10%, a 10-day high, leaving gold vulnerable.
Despite all the volatility, XAU/USD continues to move without a clear bias. Traders continue to anticipate what the Federal Reserve may announce next week. On Friday, Q2 GDP data in the US is due.

persistence and determination alone are omnipotent
  • #51,438
  • Jul 25, 2019 1:33pm Jul 25, 2019 1:33pm
If i only could turn back time

Would have been a nice Confluence point

  1. camarilla pivot point
  2. trendline
  3. fibonacci 78.6

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persistence and determination alone are omnipotent
  • #51,439
  • Jul 25, 2019 2:18pm Jul 25, 2019 2:18pm
Quoting montygoldy
Guys m out of action from last two days as there is no clear direction and had many small losers. But if i see daily and weekly then I believe today we gonna make new highs of the week.... i maybe wrong
Still feel the same way?
  • #51,440
  • Jul 25, 2019 3:44pm Jul 25, 2019 3:44pm
Guys I don't know if I'm right ... but this AB = CD standard the price seems to be on top of it and I don't know if this selling pattern will actually work.
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