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

  • #52,501
  • Sep 4, 2019 10:05pm Sep 4, 2019 10:05pm
Quoting Marcieny
{quote} I'm waiting 1537 if usa make deal with china... gold rises... I think.
The fundie guys will have to assist here(EventsTrader and Auri maybe) but hadn't it gone lower everytime there has been murmers of possible deal or truce of sorts?
4&1 All Time Profit: $37,496
  • #52,502
  • Sep 4, 2019 10:11pm Sep 4, 2019 10:11pm
Quoting MzansiObi
{quote} The fundie guys will have to assist here(EventsTrader and Auri maybe) but hadn't it gone lower everytime there has been murmers of possible deal or truce of sorts?
Is true hahha
  • #52,503
  • Sep 4, 2019 10:13pm Sep 4, 2019 10:13pm
Quoting Marcieny
{quote} I'm waiting 1537 if usa make deal with china... gold rises... I think.
If a good deal is make, it generally should go down. That's what I see.
  • #52,504
  • Sep 4, 2019 10:19pm Sep 4, 2019 10:19pm
Quoting jinsen
{quote} If a good deal is make, it generally should go down. That's what I see.
hum..but usd falls with yene?
  • #52,505
  • Sep 4, 2019 10:39pm Sep 4, 2019 10:39pm
Quoting Marcieny
{quote} hum..but usd falls with yene?
How strong the correlation. Maybe some expert can explain. Everyone buying gold is an instinct of economy poor. Fearing recession. However, these trade talk even if work well is only temporary. China has set up a task force or team to counter recession. Wonder why he did that..

Like MzansiObi mention, past few incident result in pullback..

Anyway, today tommorow some data coming...
  • #52,506
  • Sep 4, 2019 11:52pm Sep 4, 2019 11:52pm
Not getting any clue right now. Already had some losses and few profits on being biased towards selling. Still overbought and divergence is there.
On the other hand 1588 fib61.8 of downtrend from 1920 is very much possible looking bullish momentum right now.
I'll wait for day close today if it closes below yesterday's low then we may find some correction till 1517 or 1494 if extended.
Else it will continue go higher having support at 1535.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,507
  • Sep 5, 2019 12:31am Sep 5, 2019 12:31am
Quoting farukh
Not getting any clue right now. Already had some losses and few profits on being biased towards selling. Still overbought and divergence is there. On the other hand 1588 fib61.8 of downtrend from 1920 is very much possible looking bullish momentum right now. I'll wait for day close today if it closes below yesterday's low then we may find some correction till 1517 or 1494 if extended. Else it will continue go higher having support at 1535.
Keep an eye on 1539.5 Farukh.
If 1533 breaks during the day though your short bias will be confirmed. I agree with you on the divergence
4&1 All Time Profit: $37,496
  • #52,508
  • Sep 5, 2019 12:32am Sep 5, 2019 12:32am
Quoting Marcieny
{quote} I'm waiting 1537 if usa make deal with china... gold rises... I think.
Gold should drop on a China deal. The primary reason for this is a trade deal is good for global growth and higher growth implies a higher central bank rate path. Part of the reason the Fed cut (and is expected to cut again) is uncertainty on trade. Gold and bonds are competitive assets, and if a trade deal means higher bond yields (lower bond prices) it would imply lower gold.

That said, it’s questionable how significant a trade deal would really be. Central banks have already started their easing path and rates will likely continue to drop either way.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #52,509
  • Sep 5, 2019 2:21am Sep 5, 2019 2:21am
Quoting Marcieny
{quote} Is true hahha
After deals
down
  • #52,510
  • Sep 5, 2019 2:45am Sep 5, 2019 2:45am
Quoting Ef5
{quote} Gold should drop on a China deal. The primary reason for this is a trade deal is good for global growth and higher growth implies a higher central bank rate path. Part of the reason the Fed cut (and is expected to cut again) is uncertainty on trade. Gold and bonds are competitive assets, and if a trade deal means higher bond yields (lower bond prices) it would imply lower gold. That said, it’s questionable how significant a trade deal would really be. Central banks have already started their easing path and rates will likely continue to...
I understood.. Thanks!!
  • #52,511
  • Sep 5, 2019 4:21am Sep 5, 2019 4:21am
divergent support..and check out Aya's waves I'll wait longer to sell.
Take Care.
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  • #52,512
  • Sep 5, 2019 5:17am Sep 5, 2019 5:17am
H4 is in buying area. 1533 should hold support for bulls again.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,513
  • Sep 5, 2019 6:08am Sep 5, 2019 6:08am
Hello everyone, my mates , my buddies, i am back... i’ll be spamming with my useless trades...... btw... today 1k profit is done for my challenge.... btw my gut is feeling bullish for today... maybe todays daily candle will be green..
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Extreme gut feeling trader
  • #52,514
  • Sep 5, 2019 6:42am Sep 5, 2019 6:42am
Quoting Marcieny
divergent support..and check out Aya's waves I'll wait longer to sell. Take Care. {image}
Gold is trading lower on news that China and the U.S. will resume trade talks is Oct. Though an actual truce is unlikely, gold's rise is not related to the trade war, but to the currency war, which will continue to wage. In a currency war the only winners are gold and silver!
  • #52,515
  • Sep 5, 2019 8:53am Sep 5, 2019 8:53am
Quoting Unitedgold
{quote} Gold is trading lower on news that China and the U.S. will resume trade talks is Oct. Though an actual truce is unlikely, gold's rise is not related to the trade war, but to the currency war, which will continue to wage. In a currency war the only winners are gold and silver!
It's true ... it was causing a lot of falls in several pairs ... Gold it broke several supports ... I will look for some configuration to sell. and maybe carry some long trades... next week.
  • #52,516
  • Sep 5, 2019 9:42am Sep 5, 2019 9:42am
Quoting Marcieny
{quote} It's true ... it was causing a lot of falls in several pairs ... Gold it broke several supports ... I will look for some configuration to sell. and maybe carry some long trades... next week.
Where are you looking to buy in. I am watching these 1516-1519 levels. If we break much lower, I am looking to buy in around 1500 mark.
If in doubt, paddle out!
  • #52,517
  • Sep 5, 2019 9:47am Sep 5, 2019 9:47am
Quoting SurfsUp
{quote} Where are you looking to buy in. I am watching these 1516-1519 levels. If we break much lower, I am looking to buy in around 1500 mark.
I'd aim a bit lower around 1490 for the bottom of the previous consolidation channel for a buy
  • #52,518
  • Sep 5, 2019 9:47am Sep 5, 2019 9:47am
Quoting SurfsUp
{quote} Where are you looking to buy in. I am watching these 1516-1519 levels. If we break much lower, I am looking to buy in around 1500 mark.
I will look for settings to sell ... preferably if the price touches the intersection of those 2 lines in the photo.

I won't go into fight regions ... when the chart gets calm I operate.

I sold yesterday..in 1555 but I was in doubt of the news and closed the trade ..
  • #52,519
  • Sep 5, 2019 9:56am Sep 5, 2019 9:56am
Quoting Marcieny
I won't go into fight regions ... when the chart gets calm I operate.
Smart move. Don't know why I keep getting pulled into the fight
If in doubt, paddle out!
  • #52,520
  • Sep 5, 2019 9:59am Sep 5, 2019 9:59am
This looks like reversal, not Pulback.
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