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

  • #51,961
  • Aug 15, 2019 2:38am Aug 15, 2019 2:38am
US retail sales data is due out in a few hours. It's being released with Philly Fed Manufacturing Index and Empire State Manufacturing Index. There's a lot of risk with all four being released simultaneously, with potential for gold to make some big moves.

Check out the full preview: US Retail Sales - August Preview and don't miss Vorenzd's preview Retail Sales • Thursday 15.8.2019. Good luck guys and be safe out there!
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #51,962
  • Aug 15, 2019 4:18am Aug 15, 2019 4:18am
Quoting MzansiObi
Morning Traders. H1 buy 1515.13-1512.4 H4 buy area 1510.36-1502.17 D1 buy area creeped up towards 1479.23 Price has been trading within confines of the major bearish H4 candle it's extremes at 1486.24 and 1532.63..... That low is a couple of pips away from d1 buy zone, as such and bearish movement should be aware of possible bullish impulse from there about...... Levels to watch for..... Upside 1523.4 1529.8(upper extreme of bearish 4hour candle) 1542.05 1559(extended level) Downside 1514.1 1511.55 1508 1488(extended level) Pending orders Will Cautiously;...
Closing some of the long trade from first buy limit. SL at BE... Will let the rest run
4&1 All Time Profit: $37,496
  • #51,963
  • Aug 15, 2019 4:18am Aug 15, 2019 4:18am
Quoting EventsTrader
US retail sales data is due out in a few hours. It's being released with Philly Fed Manufacturing Index and Empire State Manufacturing Index. There's a lot of risk with all four being released simultaneously, with potential for gold to make some big moves. Check out the full preview: US Retail Sales - August Preview and don't miss Vorenzd's preview Retail Sales • Thursday 15.8.2019. Good luck...
Thanks for the info EventsTrader...I will be prepared.
R
Ronnie Renko
  • #51,964
  • Aug 15, 2019 6:41am Aug 15, 2019 6:41am
Some Gold trades taken yesterday and today.
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  • #51,965
  • Aug 15, 2019 9:01am Aug 15, 2019 9:01am
it looks fishy, the response of the gold is not in sync with the US economy data. Just one day before a positive news on US CHINA deal has shaken the market. I feel is huge manipulation. already selling is priced in the market.
  • #51,966
  • Aug 15, 2019 9:56am Aug 15, 2019 9:56am
Quoting tush1822
it looks fishy, the response of the gold is not in sync with the US economy data. Just one day before a positive news on US CHINA deal has shaken the market. I feel is huge manipulation. already selling is priced in the market.
While i do agree that the markets are very fishy lately, the reason why USD didn't surge is because it's just not enough.

Both Retail Sales and Core Retail sales were revised lower and FED has based their arguably hawkish outlook exactly on a strong consumer market. Another thing is that the surge is in online sales, and online sales are very volatile so they might have distorted the true number.

The most important data was the Philly manufacturing index, which did come in better then the forecast, but still decreased.
This data has told us that manufacturing might be better then we think, but that the consumer market might not be as good as we think.

And also unemployment rose and industrial production (very important right now) fell. So all in all, i'd say the market reacted pretty normaly to the data, the data is only good at first glance, but when you think about what it's comprised of it's clear to see that it's not very good.

On top of that, the main focus for gold pricing right now is the trade war and it's development, it has a MUCH larger impact then any of these data news.
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Through the light of enlightenment, darkness unveils the path of truth.
  • #51,967
  • Edited Aug 16, 2019 12:13am Aug 15, 2019 11:04am | Edited Aug 16, 2019 12:13am
Quoting MzansiObi
Morning Traders. H1 buy 1515.13-1512.4 H4 buy area 1510.36-1502.17 D1 buy area creeped up towards 1479.23 Price has been trading within confines of the major bearish H4 candle it's extremes at 1486.24 and 1532.63..... That low is a couple of pips away from d1 buy zone, as such and bearish movement should be aware of possible bullish impulse from there about...... Levels to watch for..... Upside 1523.4 1529.8(upper extreme of bearish 4hour candle) 1542.05 1559(extended level) Downside 1514.1 1511.55 1508 1488(extended level) Pending orders Will Cautiously;...
Update:

Price been playing between our upside and downside targets.....we know if the first upside target folds next up is that 1529 handle and to the downside we get 1508 will add 1498 too to the picture for now....but we remain patient

been playing some ping pong on lower time frames....let's see how far it goes

trade safe
4&1 All Time Profit: $37,496
  • #51,968
  • Edited 1:06pm Aug 15, 2019 11:54am | Edited 1:06pm
Quoting auricforecas
{quote} Ok things really started to roll now https://www.tradingview.com/symbols/XAUUSD/ +1,19% since midnight, at least the times I see on this chart... https://www.tradingview.com/symbols/XAUEUR/ (+1,50%) Now imagine the leverage... Ok will wait for like a week tops..! But I am looking forward to XAU/EUR TRADING, live TE... EURUSD dropped today... I think we will see a rebound but overall slow downtrend still... so far as predicted...for 7+ weeks...
Heh, today it was extraordinary drop (eurusd).. I do no think it will hold (for now), but RISE in GOLD vs EUR was so much better than GOLD vs EUR (3 times more!)...
It has been a better option for months now... It might be leveled out by rebound.. but in overall.. since 22JUN for example... XAU/EUR wins hands-down... vs XAU/USD
Will see by the end of the month if it will still be... I am very close to live TE XAU/EUR... decision within a week...

https://www.tradingview.com/symbols/XAUUSD/ +0,23% (since midnight on the chart - at least the times I see)
https://www.tradingview.com/symbols/XAUEUR/ +0,70% (since midnight on the chart - at least the times I see)
Can you afford to take that chance?
  • #51,969
  • Aug 15, 2019 1:48pm Aug 15, 2019 1:48pm
Quoting Vorenzd
{quote} While i do agree that the markets are very fishy lately, the reason why USD didn't surge is because it's just not enough. Both Retail Sales and Core Retail sales were revised lower and FED has based their arguably hawkish outlook exactly on a strong consumer market. Another thing is that the surge is in online sales, and online sales are very volatile so they might have distorted the true number. The most important data was the Philly manufacturing index, which did come in better then the forecast, but still decreased. This data has told...
Thanks mate for your detail view . I had only bird's eye view on the economic data. My idea was strong economic data will prove the case for Fed's hawkish stance and should reflect it on gold prices at least today.

I have to study the macro data in details.
  • #51,970
  • Aug 15, 2019 4:33pm Aug 15, 2019 4:33pm
M30-BUTTERFLY
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  • #51,971
  • Aug 15, 2019 10:08pm Aug 15, 2019 10:08pm
Gold, Good morning - my take for the day.

The US results and Gold's reaction may taken some people by surprise. Take care in the short term - the 2013 Target of 1563.xx is still what the MM are heading towards...they just don't want to take you with = choppy seas ahead.
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We err, and err, and err again, but less.
  • #51,972
  • Aug 16, 2019 12:42am Aug 16, 2019 12:42am
Good morning traders

TGIF!!!!!

Love the sports over the weekend
Some English Premier League, some international rugby, some tennis........am already salavating.....but business first.



Gold......
2nd day in a row we closed higher than , 1408.....(marking that level) and Thursdays H4 bulls kicked in whenever price got there.....

4+1 zones:
Time frames of interest all bullish.

H1:1520.78-1518.95
H4:1515.46- 1507.58
D1:from 1484.63.


Level wise intra day.....

Upside:
1528.79
1533.9
1542.4
1549.8

Downside
1515.2
1507.9
1501.83
1495.3

Outlook for the day,
Will look at buying dips near H4 buy area and look at PA near upside and downside levels to catch some pips.

Let's Keep it simple.....
Trade safe and smart.
4&1 All Time Profit: $37,496
  • #51,973
  • Aug 16, 2019 1:34am Aug 16, 2019 1:34am
Quoting dweb
Gold, Good morning - my take for the day. The US results and Gold's reaction may taken some people by surprise. Take care in the short term - the 2013 Target of 1563.xx is still what the MM are heading towards...they just don't want to take you with = choppy seas ahead. {image}
Gold, someone landed on my front lawn♥
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We err, and err, and err again, but less.
  • #51,974
  • Aug 16, 2019 4:00am Aug 16, 2019 4:00am
M15 scalpers joy...
Look at where price closes when going up.....and same thing when going down...are we closing above or below....


Finally long XAUUSD

1511.45
SL 1498

Sell trade SL at 1519


Will let them run!!!!


Trade safe
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4&1 All Time Profit: $37,496
  • #51,975
  • Aug 16, 2019 4:03am Aug 16, 2019 4:03am
Quoting dweb
{quote} Gold, someone landed on my front lawn♥ {image}
Gold set complete: my availability in short supply. Keep it green and enjoy your weekend.
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We err, and err, and err again, but less.
  • #51,976
  • Aug 16, 2019 4:12am Aug 16, 2019 4:12am
Quoting MzansiObi
M15 scalpers joy... Look at where price closes when going up.....and same thing when going down...are we closing above or below.... Finally long XAUUSD 1511.45 SL 1498 Sell trade SL at 1519 Will let them run!!!! Trade safe {image}
Adjusting stop on the long to 1493......
Let's see....
4&1 All Time Profit: $37,496
  • #51,977
  • Aug 16, 2019 4:53am Aug 16, 2019 4:53am
Quoting coderr
M30-BUTTERFLY {image}
  • #51,978
  • Edited 5:52am Aug 16, 2019 5:31am | Edited 5:52am
Today I manged to get long from 1506 !!! its H4 level support static and dynamic.
  • #51,979
  • Aug 16, 2019 7:09am Aug 16, 2019 7:09am
Quoting Vorenzd
{quote} While i do agree that the markets are very fishy lately, the reason why USD didn't surge is because it's just not enough. Both Retail Sales and Core Retail sales were revised lower and FED has based their arguably hawkish outlook exactly on a strong consumer market. Another thing is that the surge is in online sales, and online sales are very volatile so they might have distorted the true number. The most important data was the Philly manufacturing index, which did come in better then the forecast, but still decreased. This data has told...
Hello Vorenzd,
Any thoughts on today's housing data?
  • #51,980
  • Aug 16, 2019 9:38am Aug 16, 2019 9:38am
Quoting montygoldy
i need 1560 or close... this month.... pretty busy at ofc less time for scalping .... i have been adding small longs from 1500 and will add more til 1530
Added more longs today between 1506 - 1514....
1560 go go go go go
Extreme gut feeling trader
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