We err, and err, and err again, but less.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #51,902
- Aug 13, 2019 5:17am Aug 13, 2019 5:17am
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #51,903
- Aug 13, 2019 6:01am Aug 13, 2019 6:01am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #51,904
- Aug 13, 2019 6:02am Aug 13, 2019 6:02am
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #51,905
- Aug 13, 2019 6:03am Aug 13, 2019 6:03am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{image}
Money moves the market, not an indicator.
- #51,906
- Aug 13, 2019 7:41am Aug 13, 2019 7:41am
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #51,908
- Aug 13, 2019 9:09am Aug 13, 2019 9:09am
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #51,910
- Aug 13, 2019 9:37am Aug 13, 2019 9:37am
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #51,912
- Aug 13, 2019 10:22am Aug 13, 2019 10:22am
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #51,914
- Aug 13, 2019 2:02pm Aug 13, 2019 2:02pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} Particularly interesting.. 22JUN-9AUG (+6,93%) https://www.tradingview.com/symbols/XAUUSD/ 22JUN-9AUG (+8,15%) https://www.tradingview.com/symbols/XAUEUR/ gap increased, if I calculated correctly... and imagine x leverage and over number of trades... power of EXP function.. Ok so here is the deal.. I plan to see what will happen next week.. I believe the next week will be rather representative (trend/trajctory-wise) of where things might o for the next weeks/months.. Should this XAU/EUR thesis be proven correct.. I...
Yeah not so representative, but it has been like this for quite some time.. So my flirt with the planned dedicated XAU/EUR TE just increased 
https://www.tradingview.com/symbols/XAUUSD/
https://www.tradingview.com/symbols/XAUEUR/
Can you afford to take that chance?
- #51,915
- Aug 13, 2019 2:06pm Aug 13, 2019 2:06pm
- Joined Jan 2019 | Status: "Ideas stimulate the mind" | 4,203 Posts
- #51,916
- Aug 13, 2019 2:15pm Aug 13, 2019 2:15pm
- Joined May 2019 | Status: iTrade | 1,838 Posts
{quote} ok the XAU/EUR gained twice the amount the XAU/USD did this week! If we compare the CURRENT price after the "mini-crash" or correction. Was same also when there was "weekly peak, just less of a difference... either-way XAU/EUR still leads... for some months and on this week(ly). You can see on the below charts.. from 12AUG19 till today
It's travelling whole journey north and south instantly, not giving chance to make good entry
Here's my view on gold. The fundamental drivers were dragging prices down, then BOOM! The tariff delays were announced. The 1500 level was breached but it's clear that there's enough support there that it quickly came back above that support. Now I think we are at a crossroads with gold and which direction it's going to take. It's probably going to depend on risk sentiment. China came out and said they made no promises in return for the delay in tariffs, so maybe the move was over done? I'm not sure. I'm inclined to think long entries might be the more conservative play given the strong 1500 support level. But that's not backed my much fundamental thinking. Looking at the chart it's clear that we are at the infamous 50% retracement level between the tariff delay news and now. This is the gold CME continuous futures contract, which is the underlying for CFDs. They move in tandem.
Now that liquidity is drying up, we may not see a lot of direction from gold until the SHFE opens up later on. Remember there's some very important Chinese data tonight. I hope to have a preview up soon in the High Impact Events Trading... Gold & Copper thread.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
54.4%
- #51,917
- Aug 13, 2019 2:17pm Aug 13, 2019 2:17pm
- Joined Jan 2019 | Status: "Ideas stimulate the mind" | 4,203 Posts
this pair may be interesting
Xau/Aud
Xau/Aud
- #51,918
- Aug 13, 2019 2:19pm Aug 13, 2019 2:19pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
this pair may be interesting
At least what we believe/bet on to be weaker (or better to trade against) of course
Can you afford to take that chance?
- #51,919
- Aug 13, 2019 2:22pm Aug 13, 2019 2:22pm
- Joined Jan 2019 | Status: "Ideas stimulate the mind" | 4,203 Posts
{quote} Very nice! I like that we expand the idea (together) of trading GOLD against some weaker/other currency than USD... At least what we believe/bet on to be weaker (or better to trade against) of course
it depends a lot .. but I am eyeing a possible swing in this pair .. with small lots, because all pairs with Gold wow are very volatile ... and Aud may present me a valuation in the coming days...but I'm eyeing sales in that pair.
- #51,920
- Aug 13, 2019 2:32pm Aug 13, 2019 2:32pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} Very interesting. The spread usually sways me away from this pair. But twice the gains? Good info auricforecas!
This has to be researched of course, but only if the further research/history will show the benefit of XAU/EUR vs. XAU/USD...It has so far, at least for the last months that I've been tracking it.. As for twice the gains... it is because of the correction.. but we see that the gold got away so much better against the EUR than to USD..
See here.. https://www.tradingview.com/symbols/XAUUSD/
I dont know if you see the same times.. or the website corrects the timezones dependin on your GEO IP, but here it goes...
opening (from the chart/link above) 12AUG19 00:00 1,499.99 (reference price), PEAK today 1,532.74 (+2,18%), price NOW (after correction or "mini-crash"): 1,501.81 (+0,12%).
And here... https://www.tradingview.com/symbols/XAUEUR/
12AUG19 00:00 (reference price) 1,338.71, PEAK today 1,368.25 (+2,20%), price NOW (after correction or "mini-crash") 1,344.17 (+0,40%).
Hope I got it correctly.. Do you see? Might not be much difference at peak, but seems much better to have in xau/eur, assuming (slow) eurusd downtrend, that is happening atm.. for quite some time
Can you afford to take that chance?