XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2620 | Metals Mine

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

  • #52,381
  • Aug 30, 2019 10:29am Aug 30, 2019 10:29am
If price closes above 1533 on m15 m30 & h1 then it may go further till 1540
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,382
  • Aug 30, 2019 10:31am Aug 30, 2019 10:31am
reversed to long at 1531
MTF PA with indicators = a winning team
  • #52,383
  • Aug 30, 2019 11:16am Aug 30, 2019 11:16am
Price is getting shrunk inside the wedge of horizontal resistance 1530 and uptrend line of h4.. any breakout will decide further movement
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,384
  • Aug 30, 2019 12:29pm Aug 30, 2019 12:29pm
Support level is being tested. Gold is trying to end the week with a loss. There's still plenty of trading day left. I'm watching to see if it breaks this support:
Attached Image (click to enlarge)
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #52,385
  • Aug 30, 2019 1:24pm Aug 30, 2019 1:24pm
long 1520.75
MTF PA with indicators = a winning team
  • #52,386
  • Aug 30, 2019 1:29pm Aug 30, 2019 1:29pm
Looks test 1508.....
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -620
  • #52,387
  • Aug 30, 2019 1:58pm Aug 30, 2019 1:58pm
Quoting notyetthere
long 1520.75
Seems like you had some good timing there. Nice job.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #52,388
  • Aug 30, 2019 2:11pm Aug 30, 2019 2:11pm
Don't forget that we have Chinese manufacturing data due out after the close. We might need to be here for the open. Unless it comes out as expected, I'm going to look for a gap in gold, especially on signs of any further slowdown. Here's the link to the calendar event: Manufacturing PMI
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #52,389
  • Aug 30, 2019 3:57pm Aug 30, 2019 3:57pm
Inserted Video
persistence and determination alone are omnipotent
  • #52,390
  • Aug 30, 2019 7:19pm Aug 30, 2019 7:19pm
Quoting tush1822
{quote} After G20, this is second time both parties have come together. Now we have to look at the components of the trade deal in details. if everything will be settled, the bond yields will revert and i think gold bullishness will come to an end. Technically I think it will still hover above the H4 rectangle top edge of 1523. It will need a second trigger to crash below that level which 20 day EMA which is around 1500. {image}
The bearish trend has been confirmed by the Bearish Flag breakout validated by a retest with high volume . The price is coming back in the consolidation rectangle --(1495-1523) and ready to test 1506 range.

The above scenario will be validated with Positive China weekend data and a next week US CHINA trade talks resumption.
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  • #52,391
  • Aug 30, 2019 8:14pm Aug 30, 2019 8:14pm
I don't think there's any need to worry about a Sunday gap due to the Chinese manufacturing data that just came out. Both the manufacturing PMI and non-manufacturing PMI came out pretty much inline with forecasts. Here's the results:

  1. Manufacturing PMI: 49.5 vs 49.7 expected
  2. Non-Manufacturing PMI: 53.8 vs 53.6 expected

Have a nice weekend comrades!

We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #52,392
  • Aug 30, 2019 8:30pm Aug 30, 2019 8:30pm
Quoting jinsen
Not sure what big news for a decent retracement. Probably mid September for fomc to achieve a technical sound retracement. In the mean time, no one is letting go of long. Everyone is holding and buying any short retracement...
I reckon recent news trump and xi is going to work out a plan is the news for a opportunity retracement. The next big news will skyrocket. Fundamental play
  • #52,393
  • Aug 30, 2019 9:47pm Aug 30, 2019 9:47pm
Quoting EventsTrader
I don't think there's any need to worry about a Sunday gap due to the Chinese manufacturing data that just came out. Both the manufacturing PMI and non-manufacturing PMI came out pretty much inline with forecasts. Here's the results: Manufacturing PMI: 49.5 vs 49.7 expected Non-Manufacturing PMI: 53.8 vs 53.6 expected Have a nice weekend comrades!
Noted Bud, but the weekend has just begun....still plenty of time for one tweet to be made....
4&1 All Time Profit: $37,496
  • #52,394
  • Aug 30, 2019 9:51pm Aug 30, 2019 9:51pm
Quoting MzansiObi
{quote} Noted Bud, but the weekend has just begun....still plenty of time for one tweet to be made....
Absolutely. I should have been clearer. I won't be monitoring the open because of that data. But I bet there will be something between now and then that will cause a gap, or at least make me watch the open. I think Trump may have made comments about the tariffs already. They kick in next week. I don't foresee a delay. I expect attempts though. Let's see what happens.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #52,395
  • Aug 30, 2019 10:16pm Aug 30, 2019 10:16pm
Heres what im thinking....

H1 sellers are close to daily buy zone.......again, as such price may begin to consolidate again before choosing a path.

If we have a top down approach, we can see that in the past, whenever price has consolidated around the D1 buy area, with h1 sellers hovering around the handle trying to push price lower, this move has been followed up by strong bullish move from d1 buy zone.......Sooooooo

Bears will need to breach the 3rd consolidation phase as depicted by the green arrow, failing which, daily bulls will look to tick higher, a breach of that 3rd consolidation area isnt the only obstacle for bears as we approach key support, they will also contend with that 200 ma......

Mentioned the D1 area thats crept up and the need to manage positions accordingly as we get close to it.
All in all we wait for Market to open and see how it all plays out....
Attached Image(s) (click to enlarge)
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4&1 All Time Profit: $37,496
  • #52,396
  • Aug 30, 2019 10:17pm Aug 30, 2019 10:17pm
Quoting EventsTrader
{quote} Absolutely. I should have been clearer. I won't be monitoring the open because of that data. But I bet there will be something between now and then that will cause a gap, or at least make me watch the open. I think Trump may have made comments about the tariffs already. They kick in next week. I don't foresee a delay. I expect attempts though. Let's see what happens.
yeah will crunch some numbers and levels etc ahead of the weekly open.....try and enjoy the weekend.....
4&1 All Time Profit: $37,496
  • #52,397
  • Aug 30, 2019 11:15pm Aug 30, 2019 11:15pm
Quoting MzansiObi
{quote} yeah will crunch some numbers and levels etc ahead of the weekly open.....try and enjoy the weekend.....

I look forward to it. Predicting the extent of any gaps is impressive stuff and as valuable as.. well... GOLD!
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #52,398
  • Sep 1, 2019 11:12am Sep 1, 2019 11:12am
Quoting EventsTrader
{quote} I look forward to it. Predicting the extent of any gaps is impressive stuff and as valuable as.. well... GOLD!
Hey Traders.

Hope the weekend has been good to us all.
Spring is finally here( Well in South Africa).....time to enjoy the sunny beaches and warmer weather.....
Back to XAUUSD.

As things stand,
H1 has flipped bearish....Zone: 1525.83 - 1527.91
H4 Bullish to Neutral.....Zone: 1528.91 - 1529.84
D1 Bullish....................Zone:1494.91 - 1517.12


H1 sellers are trying to sell into the D1 buy zone, Clear break and close below D1 buy zone will be good for bearish continuation, failing which, D1 buy orders seem valid more so looking at what price did on Friday when Price got into the D1 upper band zone..... Interim Support at 1522/23 while resistance is it 1530.87, these levels coincides with some key intra day levels identified last week.

Levels of interest this week.


Upside
1530.6
1534.93
1539.98
1546.1

Downside
1518.52
1514.8
1507.57
1498.06


That said, new week, new month, new possibilities.....

Waiting for weekly open to see where price opens, all im all we remain patient and wait for our levels etc.
Trade safe and green pips to everyone..


Regards

PS: will try post charts etc here aswell......but most posts will be on the other thread....green week to you all
4&1 All Time Profit: $37,496
  • #52,399
  • Sep 1, 2019 12:11pm Sep 1, 2019 12:11pm
To our Fundie guys, whats your take/understanding on Dorian and possible effect on this cross?
Looking forward to your responses....
4&1 All Time Profit: $37,496
  • #52,400
  • Sep 1, 2019 1:19pm Sep 1, 2019 1:19pm
Trendline from 1400 is broken in TFs m15 m30 h1 h4 & d1. On h4 sma50 price is 1523 which has become resistance from support after breakout.

As long as 1523 gives rejection, more south direction is expected up to 1508-1510. Same is the key buying area.

Price level 1488-1494 is having major support
P.S. Trade with the discipline of Money Management and Risk Management.
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