XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2602 | Metals Mine

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

  • #52,021
  • Aug 19, 2019 9:54am Aug 19, 2019 9:54am
Quoting tush1822
{quote} I guess it will be sideways for few weeks from now (1500-1525)
Enjoy trading inverse HnS pattern!!!!
  • #52,022
  • Aug 19, 2019 10:34am Aug 19, 2019 10:34am
Quoting Aleksbuk
https://www.youtube.com/watch?v=hUejyoLfg8g
This is not GOLD you are describing but GBP .
  • #52,023
  • Aug 19, 2019 12:38pm Aug 19, 2019 12:38pm
Not a good time for trading today... Trump "joking" about FED should destroy the rates... so far market doesn't believe... but he went rater aggressive on this...
https://twitter.com/realDonaldTrump/...72272612626433
https://twitter.com/realDonaldTrump/...72273388576768

And people nervously/cautiously waiting for famous FOMC.. I mean... I do not like we are so depended on some "minutes" from FOMC... to chich ECB (cant wait to) responds... and back and forth... another stall day... for eurusd... reflecting in gold also... (no much action; decline).

This time xau/usd, xau/eur took similar relative hits...
https://www.tradingview.com/symbols/XAUUSD/
https://www.tradingview.com/symbols/XAUEUR/

I believe we will see some good action within 2 days.. I suspect strong/spike rebound.. and then proceedings with the drop... I very much hope this would be the scenario... because if too big of a drop happens for eurusd... there might be massive interventions.... which might help GOLD.. since interventions usually means... debasing the currency/ies
Can you afford to take that chance?
  • #52,024
  • Aug 19, 2019 1:12pm Aug 19, 2019 1:12pm
Quoting MzansiObi
{quote} I'm trading both XAUUSD and XAUEUR.....and the correlation between the two for me still remains....I mean look at how the EUR as a whole is performing vs the dollar.... And look at where that cross is......still moving in tandem..... and pegged to one another
Sure.. we discussed correlation among them, here https://www.metalsmine.com/showthrea...4#post12406744
The difference could be traded well, specially with leverage..
Can you afford to take that chance?
  • #52,025
  • Aug 19, 2019 1:40pm Aug 19, 2019 1:40pm
Quoting farukh
{quote} it is in profit now, added more short today. expecting correction upto 1480 price level atleast fib50 of downtrend 1920-1046
One short that was taken at 1512 with lot size 0.3 is closed now.
Another short taken today at 1508 with lot size 1 is secured with zero stop loss.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,026
  • Aug 19, 2019 2:57pm Aug 19, 2019 2:57pm
Faru!!!! You having a blast!!!
Some good calls from you off late. Well done bud.

Some sell orders from my end just closed and new long setups on the go.....let's see what's what........trade dafely
4&1 All Time Profit: $37,496
  • #52,027
  • Aug 19, 2019 8:25pm Aug 19, 2019 8:25pm
I think gold has been getting hurt some over the past two days due to this German fiscal stimulus story. Basically, there has been a lot of talk of the Germans doing fiscal stimulus (if needed) and more debt would mean higher bund yields. I think the 30y bund has gone up something like 20bps as a result. By extension, global yields have risen some over the past couple days. Higher yields are generally bearish for gold so it’s a bit of a headwind at the moment. Bonds were way overbought too so they were due for a pullback even without this.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #52,028
  • Aug 19, 2019 10:41pm Aug 19, 2019 10:41pm
I think gold found its top...Might be, downward trend have already begun........see the h1 chart..
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  • #52,029
  • Aug 20, 2019 1:10am Aug 20, 2019 1:10am
Inserted Video
  • #52,030
  • Aug 20, 2019 2:40am Aug 20, 2019 2:40am
Quoting hasan4imam
I think gold found its top...Might be, downward trend have already begun........see the h1 chart.. {image}
Thinking we may spike up towards H4 sell zone before going lower and catching a bid around 1485

1500 may pose a challenge to break for a while as that MA on the h1 gives it a challenge

Pending orders on XAUUSD
1505
SL 1518
TP open

Buy limit
1485
SL 1470

Happy trading

https://www.metalsmine.com/showthrea...4#post12451294
Attached Image (click to enlarge)
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4&1 All Time Profit: $37,496
  • #52,031
  • Aug 20, 2019 3:08am Aug 20, 2019 3:08am
Yesterday close was confirmation of bearish trend reversal.

Entry prices for selling 1503 / 1509

Breakout of yesterday's high 1513 would be the cancellation of bearish confirmation else enjoy selling up to 1480 short term and then if extends it may go down further to 1452
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,032
  • Aug 20, 2019 3:42am Aug 20, 2019 3:42am
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  • #52,033
  • Aug 20, 2019 3:52am Aug 20, 2019 3:52am
Quoting farukh
Yesterday close was confirmation of bearish trend reversal. Entry prices for selling 1503 / 1509 Breakout of yesterday's high 1513 would be the cancellation of bearish confirmation else enjoy selling up to 1480 short term and then if extends it may go down further to 1452
I agree with you with the levels but am thinking this is more a correction more than anything......will follow pa along the way as it decides where it's going heheh
4&1 All Time Profit: $37,496
  • #52,034
  • Aug 20, 2019 4:25am Aug 20, 2019 4:25am
Quick sell scalp M15 chart.....
M5 seems to be heading lower briefly

Pending short not filled yet.....so let's see if this works out.
Attached Image (click to enlarge)
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4&1 All Time Profit: $37,496
  • #52,035
  • Aug 20, 2019 7:50am Aug 20, 2019 7:50am
Quoting MzansiObi
{quote} Thinking we may spike up towards H4 sell zone before going lower and catching a bid around 1485 1500 may pose a challenge to break for a while as that MA on the h1 gives it a challenge Pending orders on XAUUSD 1505 SL 1518 TP open Buy limit 1485 SL 1470 Happy trading https://www.metalsmine.com/showthrea...4#post12451294 {image}
1505 shortfilled but must admit this volume isn't convincing ....have already scaled down in it.....

1517 seems very likely now.....
4&1 All Time Profit: $37,496
  • #52,036
  • Aug 20, 2019 7:56am Aug 20, 2019 7:56am
Quoting MzansiObi
{quote} 1505 shortfilled but must admit this volume isn't convincing ....have already scaled down in it..... 1517 seems very likely now.....
Closed my short with little profit in pocket.

Now I'll wait for day close.. looking at price level 1513
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,037
  • Aug 20, 2019 7:59am Aug 20, 2019 7:59am
Quoting MzansiObi
{quote} 1505 shortfilled but must admit this volume isn't convincing ....have already scaled down in it..... 1517 seems very likely now.....
Yes, its very likely that it will come back to 1513 where the H4 level trend line. The CME open also showed heavy buying this morning. For a healthy trend, professional traders will consider as a good buying opportunity.
  • #52,038
  • Aug 20, 2019 8:08am Aug 20, 2019 8:08am
Quoting farukh
{quote} Closed my short with little profit in pocket. Now I'll wait for day close.. looking at price level 1513
Noted bud.....sellers action isn't impressive yet ...... Some minor hi Rs if it but not yet m15 and M1 back above ma.....but will keep holding the short for now

Reduced lot and small profit bagged....

Profit is profit no matter how little all adds up.
4&1 All Time Profit: $37,496
  • #52,039
  • Aug 20, 2019 8:12am Aug 20, 2019 8:12am
Quoting tush1822
{quote} Yes, its very likely that it will come back to 1513 where the H4 level trend line. The CME open also showed heavy buying this morning. For a healthy trend, professional traders will consider as a good buying opportunity.
Would have Liked to get long from a little lower
Had a 1496 long....trailed it moved SL to1502 just got stopped out......
4&1 All Time Profit: $37,496
  • #52,040
  • Aug 20, 2019 8:21am Aug 20, 2019 8:21am
Quoting MzansiObi
{quote} Would have Liked to get long from a little lower Had a 1496 long....trailed it moved SL to1502 just got stopped out......
Here is one professional trader in our team!!! spot on.
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