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

  • #52,541
  • Edited Sep 7, 2019 3:14am Sep 6, 2019 3:21pm | Edited Sep 7, 2019 3:14am
Yeah, the central banks won't be able to do it (anymore), not because they would not want to... but because they used... or have been using/abusing this "joker" card too many times for too long.. DEBT is through the roof... USA gets threat for gov shutdown so regularly it is always a regular news, not a headline... In EU many countries got their debt radically increased... and at 90% debt to GDP is suppose to be "point of no return"... The good thing, for them, is.. that GDP (formula) doesn't give a f... about the debt (increase..) so they kept doing it, from one mandate to another, kicking the can down the road... Now at (or PASS the) point of no return level.. they are somewhat careful... But that is too much economics for this thread I guess..

About the market... I am somewhat disappointed... that the market didn't corrected this week, so that we would resume the "trends"... I mean when will they STFU already.. so that the markets could flow instead of waiting by the "TV SET" 24/7 and trying to model every cough, eye turn, scratch.. into what they might do and go overburning the datacenters with HF trading... This has to stop now... The joke is too old and many traders will go numb...

So I would say (plan) like this... Should the market doesn't correct itself... meaning.. in USD terms... that the US might lose a little strength, just for the "other side" to recover a little.. and to regain/increase strength slowly, not that later.... then, if not that... the USD might really become too strong too fast for anyone to ignore and they would (have to) make actions regardless of what I previously wrote...

So I give it a week, tops.. to see if this recovery will (hopefully) happen or not, otherwise will assume it doesn't and we proceed till the next TURN

Will wait with gold trading, I will wait till I settle this... because atm trading seems more on the gambling side, at least for me.. and I do not want to throw darts at a board Will resume my (larger) trading in a week, I hope... Better careful than sorry... Withdrew my accounts yesterday, out of precaution...
Can you afford to take that chance?
  • #52,542
  • Sep 6, 2019 4:32pm Sep 6, 2019 4:32pm
Gold has become good value for money.
Still of the opinion that this recent bear move is nothing more than a correction.....

Weekly close above the 1500 coupled with Price still closing within D1 buy range is further fuelling this.....

With that said, looking forward to the week ahead.....
4&1 All Time Profit: $37,496
  • #52,543
  • Sep 6, 2019 5:06pm Sep 6, 2019 5:06pm
from what I see the only asset that managed to make dxy fall was gold all this time ... has a long month ahead. But around the 1480 region has stronger support. we have a shoulder head shoulder in the month too...possibly we can see lateralizations.

It is also important to note that we may see some buying force when the price touches the trend line in the weekly period.
  • #52,544
  • Sep 7, 2019 2:51am Sep 7, 2019 2:51am
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persistence and determination alone are omnipotent
  • #52,545
  • Sep 7, 2019 3:18am Sep 7, 2019 3:18am
Happy Weekend Traders.


Just a reflection on the week that was and a bit of an Outlook for the week ahead

PA, tested the upper levels of the weekly and Intra day levels , it did edge Higher in the week to make a new High, and that handle attracted a bid from Sellers, who managed to push price towards key Support before breaking it to the lower intra day and weekly levels and actually challenged the Lower band of the D1 buy zone.

D1 buy Zone still intact but a break and close below that level will see bears trying to push it lower as there is still a lot of room to the downside. First challenge for bears will be that key support that is also near h4 200 ema(Confluence) Attached charts will aid in seeing this outlook. Daily RSI pointing downwards again so we have clear indication that bears will try and push it lower, while lows are favourable we need to sell with caution and pick our levels as we know that whenever price gets into that daily buy zone, Bulls wake up strong and make new highs..... enough rambling....

Will be adding weekly levels to the charts ahead of every week going forward.

Weekly Numbers:
Upside
1595.5
1577.3
1555.4
1542.76

Downside
1501
1487.89
1466.9
1433,09

Intra day levels for Monday
Upside
1546.96
1537.32
1527.88
1521.83

Downside
1502.44
1496.31
1487.76
1470.98


The associated charts clearly outline the Zones on the various time frames.
That 200 EMA across the time frames shows us clearly how price is behaving at certain levels that in most instances coincide with our intra day levels and how we can use it as a guide in managing our trades accordingly.....


Posted charts etc over here
https://www.metalsmine.com/showthrea...9#post12488789


Happy Weekend to you all
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  • #52,546
  • Sep 7, 2019 7:49am Sep 7, 2019 7:49am
@JP1.....
Have a look at that candle formation on the H4.....
Around support zone....
What do you see bud?
4&1 All Time Profit: $37,496
  • #52,547
  • Sep 7, 2019 11:04am Sep 7, 2019 11:04am
Quoting MzansiObi
@JP1..... Have a look at that candle formation on the H4..... Around support zone.... What do you see bud?
Hi M - not sure im too hot with candle formations mate!

for me, its had a couple of strong rejections from ws1......but then got wacked straight back down every time (which i shorted from h1 50 twice friday evening ). Still under a lot and wouldnt be suprised if it doesnt head down towards ws2 / m pp. but i know its still just about in ur Daily support zone - so could be wrong!

havent read much news this weekend though, so someone might have opened there big gob and send it booming again!
  • #52,548
  • Sep 7, 2019 11:58am Sep 7, 2019 11:58am
Quoting Jp1
{quote} Hi M - not sure im too hot with candle formations mate! for me, its had a couple of strong rejections from ws1......but then got wacked straight back down every time (which i shorted from h1 50 twice friday evening ). Still under a lot and wouldnt be suprised if it doesnt head down towards ws2 / m pp. but i know its still just about in ur Daily support zone - so could be wrong! havent read much news this weekend though, so someone might have opened there big gob and send it booming...
Just looking at that "Inside bar" near support....what are your trading instincts telling you?
We had our first green bar in the previous candle then price bounced off of support....……………………………………..
4&1 All Time Profit: $37,496
  • #52,549
  • Sep 7, 2019 12:16pm Sep 7, 2019 12:16pm
Quoting MzansiObi
{quote} Just looking at that "Inside bar" near support....what are your trading instincts telling you? We had our first green bar in the previous candle then price bounced off of support....……………………………………..
Quite basic from me mate.....while its under weekly pivot, weekly average and m15 200 im still gonna short pullbacks to the averages (unless a candle completely blasts through some stuff!).....it has to break m15 200 and hold for me to start looking at potential longs. Doesnt mean there arent quick scalps either direction though!
  • #52,550
  • Sep 7, 2019 12:51pm Sep 7, 2019 12:51pm
Quoting Jp1
{quote} Quite basic from me mate.....while its under weekly pivot, weekly average and m15 200 im still gonna short pullbacks to the averages (unless a candle completely blasts through some stuff!).....it has to break m15 200 and hold for me to start looking at potential longs. Doesnt mean there arent quick scalps either direction though!
Yes JP!!!!!!!!!!!!
4&1 All Time Profit: $37,496
  • #52,551
  • Sep 7, 2019 2:21pm Sep 7, 2019 2:21pm
Long term view mixed with some quarterly numbers ,, bit of a squeezed view on daily but sure ya all can get the jest ,, long as somewhat quiet on geopolitical front ,,it will be wht ever gets set up for a weekly trip with the news or rather fuel source to send er a thrashing a about ,,below 15 brings up 1450 ,,res around 1530 to last high area ,,,, reasons a bit obvious ,,, last quarters high gonna look attractive if / when 1500 goes down , bit more of when not if atm ,, ,cheers all
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  • #52,552
  • Sep 7, 2019 2:33pm Sep 7, 2019 2:33pm
Here and now ,, short term ,, its under some shit ,,, 4 hour 200 (rough monthly price average) probably next to get a poke or prod ,,, then the scrum will be around tht for a bit ,,
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  • #52,553
  • Sep 7, 2019 2:37pm Sep 7, 2019 2:37pm
Diggs, I saw the quarterly numbers and see that price may just act around them.
Just using the weekly numbers, there is a clear inclination that price will either use these as support and or resistance.
I see you are particular with them....
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  • #52,554
  • Sep 7, 2019 2:39pm Sep 7, 2019 2:39pm
Quoting digger1
Here and now ,, short term ,, its under some shit ,,, 4 hour 200 (rough monthly price average) probably next to get a poke or prod ,,, then the scrum will be around tht for a bit ,, {image}
Im looking for Buy Dip setups now, this thing may or may not play put higher.
Just looking at Price possibly breaking higher as it has been doing for the past two weeks, its seems to be challenging those weekly level
4&1 All Time Profit: $37,496
  • #52,555
  • Sep 7, 2019 2:40pm Sep 7, 2019 2:40pm
Quoting MzansiObi
Diggs, I saw the quarterly numbers and see that price may just act around them. Just using the weekly numbers, there is a clear inclination that price will either use these as support and or resistance. I see you are particular with them....
Lol,, I like getting payed without a big stop ,,,, still comes down to what matches up where tho bud ,, what pieces ya got to get where ,,, lot of jukes and jives between the bigger levels along the way,,l, stoch pattern on daily about played out atm ,, need a geopolitical thing for it to bounce good here ,, otherwise ,, chopping back down to all the levels it came from till it gets one or back to good enough levels for it not to need one,, not tht there wont be longs to be had ,, just gonna be some no break no shake zones above now ,, bit more so than there has been
  • #52,556
  • Sep 7, 2019 3:24pm Sep 7, 2019 3:24pm
Quoting digger1
{quote} Lol,, I like getting payed without a big stop ,,,, still comes down to what matches up where tho bud ,, what pieces ya got to get where ,,, lot of jukes and jives between the bigger levels along the way,,l, stoch pattern on daily about played out atm ,, need a geopolitical thing for it to bounce good here ,, otherwise ,, chopping back down to all the levels it came from till it gets one or back to good enough levels for it not to need one,, not tht there wont be longs to be had ,, just gonna be some no break no shake zones above now ,, bit...
LOL!! to be honest im lokking to load some partial positions around these suppor support zones

up until the H4 200 EMA is broken atleast.....
4&1 All Time Profit: $37,496
  • #52,557
  • Sep 7, 2019 3:36pm Sep 7, 2019 3:36pm
Quoting MzansiObi
{quote} LOL!! to be honest im lokking to load some partial positions around these suppor support zones up until the H4 200 EMA is broken atleast.....
Ha ,, well probably about to find out ,, I see a good poke in its future lol,, under a weekly ave ,, under a 2 week average ,, its gonna need something good lol,, its under some shit ,, it needs 1500 then it will be under some more shit with some played out stoch patterns
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  • #52,558
  • Sep 7, 2019 5:58pm Sep 7, 2019 5:58pm
Sometimes I look at this chart and see that the strongest support has been touched in a few months ... at the very least the price should break all resistances .. but I'll wait for the time to say ... the harmonic selling pattern has failed in gold , and usd / jpy has a drawing of a deep fall in the month ...
time will tell... let's see!!!
  • #52,559
  • Sep 7, 2019 6:06pm Sep 7, 2019 6:06pm
i always like diggers charts they tell you a lot stuff so much i take notice of what he is saying
people leave, but this thread will go on for ever
  • #52,560
  • Sep 7, 2019 6:54pm Sep 7, 2019 6:54pm
Quoting Aussi
i always like diggers charts they tell you a lot stuff so much i take notice of what he is saying
Well thank you Aus ,,, could be a bit interesting open ,,, seen a few news stories ,, could be just tht geopolitical shit it needs ,, but as any thing ,,,, the 1st few stories provided the catalyst ,,, now they are kinda the same stories with out much happening ,, the 1st time wolf is shouted people pay attention ,, a few times of tht and no wolf , even tht waxes into being same ole same ole ,,,,, till the wolf shows up ,, or at least better evidence one is the area ,,cheers bud
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