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

  • #51,681
  • Jul 31, 2019 9:13pm Jul 31, 2019 9:13pm
Quoting Vorenzd
{quote} Quite possible scenario, i'm actually carefully monitoring the market looking for a chance to buy, but i've gotten nothing solid so far. {quote} I could say the same for your preview. I do hope they are reading it for their own benefit, and i believe many are. I really apreciate all the postive feedback I get in that thread and it truly means a lot to me. I love the fact that it's not for nothing...
Don't go soft on us Fellas!

But those previews coupled with thread techs on this platform really helps I must say,

Keep keeping on
4&1 All Time Profit: $37,496
  • #51,682
  • Jul 31, 2019 10:12pm Jul 31, 2019 10:12pm
I just checked the rate expectations and it's surprising. Right now, we are at about 57% to 42% in rate expectations as more believe the Fed will follow up today's meeting with another rate cut. The surprising part about that is prior to today's meeting it showed a 54% probability of interest rates 75 basis points lower than 2.50%. To clarify, after the Fed delivered the 25bp rate cut and issued the corresponding statement, the market had a big shift away from anything other than a possible 25bp rate cut in Sept with zero probability of anything further. I don't disagree, it's just a big shift.
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So we have this on here to reference in the future, because I expect a lot of changes to occur in the next couple of months, here is where the probabilities are for the October FOMC meeting. Over half the market believes there will be one rate cut between the two meetings. Over 25% believe the Fed just pulled a one and done and don't think rates are coming down further.
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Next week could be interesting depending on which brave souls from the Federal Reserve are scheduled for public speeches, hopefully with Q&A.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #51,683
  • Jul 31, 2019 10:42pm Jul 31, 2019 10:42pm
Quoting montygoldy
Ok so m done for today... didnot hit my 1k daily target but its enough.... made 80$ in my small acc as well. Now i have one position running 1415 sell tp: 1400 or less sl: open lots: 0.1.... gonna hold it for the week as weekly chart suggests more downside.. {image}
closed my sell position with a decent profit.... now opened a long from 1410 tp: 1415, sl: 1406 lots: X
Extreme gut feeling trader
  • #51,684
  • Jul 31, 2019 11:04pm Jul 31, 2019 11:04pm
#SILVER / H4
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  • #51,685
  • Jul 31, 2019 11:08pm Jul 31, 2019 11:08pm
US Employment Data - August Preview - Since there's not much going on, it might be a good time to get caught up on what we might expect on Friday. I included charts and it shows that the last three releases have rocked gold and the USD. Check it out and don't hesitate to post any feedback or questions. Good luck!
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #51,686
  • Aug 1, 2019 2:09am Aug 1, 2019 2:09am
closed some buys from yesterdays FOMC some were as a 0 trade!
Was a little busy and didn't trade fully, for now we have 1402-1398 strong buy zone - better wait for it!

Zones to short 1426
Asia reverse zone 1416-1414
Always Defend your investment 1775
  • #51,687
  • Aug 1, 2019 2:34am Aug 1, 2019 2:34am
Morning traders


Will be looking for opportunities to go short with rallies today.....
Marking key level as 1415,32



Some yet support and resistance levels marked out as
Downside

1405

1398

To the upside
1411
1415.32
1419



As such placing following pending orders:
Sell limit

1415.32
SL 1425

1421.37
SL 1433

Buy limit
1392
SL 1382



Trade safe.

Happy August
4&1 All Time Profit: $37,496
  • #51,688
  • Aug 1, 2019 2:49am Aug 1, 2019 2:49am
Gold struggles near 2-week lows, $1400 mark remains in sight
1 August 2019, 10:46

 

  1. The Fed’s hawkish rate cut exerts some heavy bearish pressure on Wednesday.
  2. The ongoing USD bullish run further collaborates to the prevalent selling bias.
  3. Deteriorating global risk sentiment lends some support and might help limit losses.

Gold dropped to over two-week lows on Thursday, with bears now eyeing a move towards challenging the key $1400 psychological mark.

The precious metal remained under some selling pressure for the second consecutive session on Thursday and added to the previous session's heavy losses, which came after the Fed lowered its benchmark interest rate by 25 bps but signalled that more rate cuts are not guaranteed.

In the post-meeting press conference, the Fed Chair Jerome Powell described the rate cut as a mid-cycle adjustment of policy and said that the move does not necessarily mean the beginning of a series of rate cuts and prompted some aggressive selling around the non-yielding yellow metal.

Meanwhile, the Fed's hawkish cut triggered a fresh leg of an upsurge in the US Dollar, which extended through the early European session on Thursday and further collaborated towards driving flows away from the dollar-denominated commodity.

However, given the fact that the US-China trade negotiations concluded without a major breakthrough, a slight deterioration in the global risk sentiment extended some support to the precious metal's safe-haven status and might turn out to be the only factors that might help limit deeper losses.

Moving ahead, Thursday's US economic docket - highlighting the release of ISM manufacturing PMI, will now be looked upon for some short-term trading impetus later during the early North-American session and ahead of Friday's closely watched US monthly jobs report (NFP).

persistence and determination alone are omnipotent
  • #51,689
  • Aug 1, 2019 3:13am Aug 1, 2019 3:13am
Aiming for an entry in the yellow area [1395,xx - 1398,xx]

  1. H4 trendline
  2. Weekly camarilla L5
  3. Fibonacci Pivot S100

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persistence and determination alone are omnipotent
  • #51,690
  • Aug 1, 2019 7:15am Aug 1, 2019 7:15am
#GOLD / H4
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  • #51,691
  • Edited 10:21am Aug 1, 2019 9:40am | Edited 10:21am
The ISM Manufacturing data came in lower, this could cause an USD sell off as many might believe that FED was not dovish enough.

On top of that, due to all the global uncertanties gold has a solid upward potential.
Through the light of enlightenment, darkness unveils the path of truth.
  • #51,692
  • Edited 10:04am Aug 1, 2019 9:53am | Edited 10:04am
Quoting montygoldy
{quote} closed my sell position with a decent profit.... now opened a long from 1410 tp: 1415, sl: 1406 lots: X
still holding hoping to hit tp plus sl: BE


tp hit... done for the day....
Extreme gut feeling trader
  • #51,693
  • Edited 12:42pm Aug 1, 2019 10:48am | Edited 12:42pm
About the PA....
Gold formed double TOP, and tripple bottom at 1402-1400 area, what this can mean - a lot of stops below that area, now its showing some rise but this is a fake - better to choose a good position to short! first TP is at 1399 - second is at 1385, third TP is at 1380, if it breaks through 1426 - better wait untill it can kill 1433 stops!

Good luck fellows!
Always Defend your investment 1775
  • #51,694
  • Aug 1, 2019 11:08am Aug 1, 2019 11:08am
Quoting MzansiObi
Morning traders Will be looking for opportunities to go short with rallies today..... Marking key level as 1415,32 Some yet support and resistance levels marked out as Downside 1405 1398 To the upside 1411 1415.32 1419 As such placing following pending orders: Sell limit 1415.32 SL 1425 1421.37 SL 1433 Buy limit 1392 SL 1382 Trade safe. Happy August
1st Short has been filled.....let's go....... 4 hour sell zone in okay now......
The amount of fatigue in me.......gracefully looking forward to the weekend.
4&1 All Time Profit: $37,496
  • #51,695
  • Aug 1, 2019 12:43pm Aug 1, 2019 12:43pm
Quoting Hunterrus84
About the PA.... Gold formed double TOP, and tripple bottom at 1402-1400 area, what this can mean - a lot of stops below that area, now its showing some rise but this is a fake - better to choose a good position to short! first TP is at 1399 - second is at 1385, third TP is at 1380, if it breaks through 1426 - better wait untill it can kill 1433 stops! Good luck fellows!
as was told before, 1433 killers
Always Defend your investment 1775
  • #51,696
  • Aug 1, 2019 12:43pm Aug 1, 2019 12:43pm
WTF

Breaking: Trump to impose additional 10% tariff on remaining $300 bln of Chinese imports to US starting Sept 1
1 August 2019, 20:33

Trump to impose additional 10% tariff on the remaining $300 bln of Chinese imports to the US starting Sept 1
He tweets:
Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened, and many Americans continue to die! Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%...
...We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!

  1. Markets are impacted hard on this news.

More to come...

persistence and determination alone are omnipotent
  • #51,697
  • Aug 1, 2019 12:48pm Aug 1, 2019 12:48pm
Quoting Ll1979
WTF Breaking: Trump to impose additional 10% tariff on remaining $300 bln of Chinese imports to US starting Sept 1 1 August 2019, 20:33 Trump to impose additional 10% tariff on the remaining $300 bln of Chinese imports to the US starting Sept 1 He tweets: Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to buy agricultural product...
WTF is the right reaction...

I honestly have no idea how anyone sane can consider this constructive... you're in negotiations and you announce additional tarrifs. As some pointed out, now Xi's image might be hurt and it might appear that China has been forced into a deal it didn't want.

Trump has destroyed US international relations for decades to come, might have even destroyed dollars credibility as a reserve currency and US credibility as a reliable ally and trade partner.

He really doesn't understand global economics ... either that or he has some nice investments and is making sure they're in profit. Either way... shame.
Through the light of enlightenment, darkness unveils the path of truth.
  • #51,698
  • Aug 1, 2019 1:08pm Aug 1, 2019 1:08pm
golded fever evening! nothing more nothing less, no technicals here
Always Defend your investment 1775
  • #51,699
  • Aug 1, 2019 1:45pm Aug 1, 2019 1:45pm
gold going to the moon ... just today I had to go to the mall
  • #51,700
  • Aug 1, 2019 1:52pm Aug 1, 2019 1:52pm
Quoting Marcieny
gold going to the moon ... just today I had to go to the mall
Fundamentals in play
Always Defend your investment 1775
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