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

  • #52,561
  • Sep 7, 2019 7:13pm Sep 7, 2019 7:13pm
Quoting digger1
{quote} 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
i find people try to convince themselves that what they are thinking is true the brain takes over even though the charts are saying something different mate , many a time i see trades that people are calling are different to the chart direction
people leave, but this thread will go on for ever
  • #52,562
  • Sep 7, 2019 7:17pm Sep 7, 2019 7:17pm
Quoting Aussi
{quote} i find people try to convince themselves that what they are thinking is true the brain takes over even though the charts are saying something different mate , many a time i see trades that people are calling are different to the chart direction
Rofl,, my brain suffered a lot of tht lol,, slow learner but it finally sunk in ha ,, really dont know why it is so easy to see and do the wrong shit on the wrong end ,, but damn it is ,,
  • #52,563
  • Sep 7, 2019 7:29pm Sep 7, 2019 7:29pm
Quoting digger1
{quote} Rofl,, my brain suffered a lot of tht lol,, slow learner but it finally sunk in ha ,, really dont know why it is so easy to see and do the wrong shit on the wrong end ,, but damn it is ,,
yep mate years and years ago i let things happen which i should not have , but we learn and move on and now at 68 things getting to late in life
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  • #52,564
  • Sep 8, 2019 12:41am Sep 8, 2019 12:41am
Quoting digger1
{quote} 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 {image}
The weekly close above 1500 together with the fact that we closed near weekly s1 and price has been bouncing off of it gives the Bulls a chance, more so the overall structure still remains bullish, if anything, price has merely reverted back to the mean on the daily chart, will it try poke below it, yes, but its still above some stuff nonetheless.
Either way, we follow PA


This week ahead 1501 will be tested/challenged, I don't doubt that at all...if it does break I expect that consolidation that we had before price rallied two weeks ago before it fully decides where it genuinely wants to go...
4&1 All Time Profit: $37,496
  • #52,565
  • Sep 8, 2019 12:47am Sep 8, 2019 12:47am
Quoting Aussi
{quote} i find people try to convince themselves that what they are thinking is true the brain takes over even though the charts are saying something different mate , many a time i see trades that people are calling are different to the chart direction
That is true to an extent id say Aussi...purely based on the fact that at certain levels price begins to do some stuff that may be contrary to the chart direction.
Before price got whacked off of the highs last week, it was all bullish this and that, but levels don't lie mate, selling them and identifying them is just as good even if it is against the general direction of the chart....
4&1 All Time Profit: $37,496
  • #52,566
  • Sep 8, 2019 1:49am Sep 8, 2019 1:49am
Quoting MzansiObi
{quote} That is true to an extent id say Aussi...purely based on the fact that at certain levels price begins to do some stuff that may be contrary to the chart direction. Before price got whacked off of the highs last week, it was all bullish this and that, but levels don't lie mate, selling them and identifying them is just as good even if it is against the general direction of the chart....
hi mate so true what we see is what others dont that makes traders like you and digger in the 5%
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  • #52,567
  • Sep 8, 2019 2:57am Sep 8, 2019 2:57am
For buying..
Price is at fib61.8 from 1479.
On h4 price is at lower side of range and RSI is in oversold area, if it acts as support and become lower of new up swing then 1585 is still on.
On top 1585 fib61.8 from 1920 has not achieved as yet.

For selling..
On daily 1535 has broken out, if it acts as resistance then there is room down to 1482-1477 (fib50 from 1920, fib50 from 1400 & sma50).
Overbought and divergence has been already there for quite some time.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,568
  • Sep 8, 2019 4:10am Sep 8, 2019 4:10am
MN sub range
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  • #52,569
  • Sep 8, 2019 5:13am Sep 8, 2019 5:13am
Quoting MzansiObi
{quote} The weekly close above 1500 together with the fact that we closed near weekly s1 and price has been bouncing off of it gives the Bulls a chance, more so the overall structure still remains bullish, if anything, price has merely reverted back to the mean on the daily chart, will it try poke below it, yes, but its still above some stuff nonetheless. Either way, we follow PA This week ahead 1501 will be tested/challenged, I don't doubt that at all...if it does break I expect that consolidation that we had before price rallied two weeks ago...

Hi Mz

what will be effect of Cancellation of peace talk with Taliban by Trump will support Gold?

Also Iran has decided to increase uranium and captured one boat which support Gold.

and Hong Kong Protest is still going on.

Uk minister resigned over Brexit Issue

whether all the above factor will support gold till 1500?
  • #52,570
  • Sep 8, 2019 5:53am Sep 8, 2019 5:53am
Quoting Nanotech
{quote} Hi Mz what will be effect of Cancellation of peace talk with Taliban by Trump will support Gold? Also Iran has decided to increase uranium and captured one boat which support Gold. and Hong Kong Protest is still going on. Uk minister resigned over Brexit Issue whether all the above factor will support gold till 1500?
U still in ur longs mate, or did u cut them?
  • #52,571
  • Sep 8, 2019 6:10am Sep 8, 2019 6:10am
Quoting Jp1
{quote} U still in ur longs mate, or did u cut them?

Hi Jp

I am still on Long. I will cut tonight if it goes below 1500. Please advise.
  • #52,572
  • Sep 8, 2019 6:42am Sep 8, 2019 6:42am
Quoting Nanotech
{quote} Hi Jp I am still on Long. I will cut tonight if it goes below 1500. Please advise.
Difficult to say mate, until market opens......need to see what the gap is (if anything). In terms of the end of the week, im still very much on the side of shorts for now. But then again, its still in Ms daily support zone (just).....and u could be lucky and it gaps right up and sorts u out!

i guess it also depends on ur account size, trade size etc and whether u can handle the DD. Fingers crossed for u
  • #52,573
  • Sep 8, 2019 7:12am Sep 8, 2019 7:12am
Quoting Nanotech
{quote} Hi Mz what will be effect of Cancellation of peace talk with Taliban by Trump will support Gold? Also Iran has decided to increase uranium and captured one boat which support Gold. and Hong Kong Protest is still going on. Uk minister resigned over Brexit Issue whether all the above factor will support gold till 1500?
Hey Nano,

The tech guys will better be suited to address/answer that in detail. Like JP said, lets see how the week opens and we see what the charts are printing, for now we have identified levels where price could go and we need to monitor price behaviour around those said levels.


4&1 All Time Profit: $37,496
  • #52,574
  • Sep 8, 2019 7:29am Sep 8, 2019 7:29am
Anyone have the link for Mt4 download file......Had to wipe my machine......silly me I didn't back up....
4&1 All Time Profit: $37,496
  • #52,575
  • Sep 8, 2019 8:03am Sep 8, 2019 8:03am
Quoting Nanotech
{quote} Hi Mz what will be effect of Cancellation of peace talk with Taliban by Trump will support Gold? Also Iran has decided to increase uranium and captured one boat which support Gold. and Hong Kong Protest is still going on. Uk minister resigned over Brexit Issue whether all the above factor will support gold till 1500?
Hey bro.. no body can tell where will price exactly go. As you are planning to cut off if it goes below 1500, it may go to 1494-1497 then make new high or further go down to 1450 who knows..
We all anticipate, the more it's calculated anticipation more chances of winning trade. Also depends on risk and money management, as JP said account size trade size etc..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,576
  • Sep 8, 2019 1:46pm Sep 8, 2019 1:46pm
Happy Sunday everybody.

Fairly quiet weekend, judging by the dow it looks like there might be a small gap up on gold.

Attached Image
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #52,577
  • Sep 8, 2019 2:51pm Sep 8, 2019 2:51pm
If you are tracking GOLD/USD this week, consider this top-down technical perspective.

The Gold/USD market has been on a positive run for quite a while.

On the daily time frame, price action shot above a lower rising channel (with blue lower boundary) to operate in a higher rising channel (with red upper boundary), indicating an increase in bullish momentum. However, presently, the momentum has turned southwards in the upper channel with the printing of two bearish candlesticks on Thursday and Friday, and the technicals favour further southward move. We may see a penetration of the lower channel in the early part of this week.

On the H4 time frame, recent price action has tested the lower boundary (magenta) of the rising channel within which it has been operating since mid-August. Three of the candlesticks printed in the area have been relatively big and penetrated the channel support trendline. A breakdown of the channel support is likely to lead to a retest of the 1490 area; from which price operation rallied on August 23. Any further southward momentum is likely to expose the 1472 horizontal support area.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #52,578
  • Sep 9, 2019 3:19am Sep 9, 2019 3:19am
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  • #52,579
  • Sep 9, 2019 11:18am Sep 9, 2019 11:18am
Quoting MzansiObi
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...
First intra day level held for the better part of the day....
Got printed and now we are challenging the 2nd downside level....we remain patient with the levels though..........
4&1 All Time Profit: $37,496
  • #52,580
  • Edited 2:24pm Sep 9, 2019 2:00pm | Edited 2:24pm
Quoting auricforecas
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...
Ok so far it is going into that planed direction, but market is still rather cautious about the ECB's speech this week.... I hope the correction will happen this week.. so that we can resume trendsurfing BTW seriously thinking of buying physical gold this week.. BEFORE it starts pumping up again
Can you afford to take that chance?
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