XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2631 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

Attachments: XAU/USD & XAG/USD - Gold & Silver Traders Thread
Exit Attachments

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

  • #52,601
  • Sep 10, 2019 12:36am Sep 10, 2019 12:36am
Morning Traders,

The daily close as per yesterdays chart has broken and closed below the daily buy zone.
H1 and H4 sellers still in control.

Currently
H1 sell zone: 1496.23 - 1501.76
H4 sell Zone: 1505.78 - 1513.90

Intra Day Levels
Upside
1526.3(Extreme)
1521.97
1514.88
1510.47
1503.64

1496.82(Was a downside level, flipped into a resistance level)
1492.61(was a downside level, flipped int a resistance level)

Downside
1487.38(weekly)
1485.75
1473.98
1467.36(weekly)



As such selling rallies around h1 and h4 is order of the day but special caution to be given to PA around these lower levels


Trade Safe




Yesterdays intra day numbers held somewhat before being broken to the donwside on that test of the m15 ema.
The weekly levels have also come into play now with the first level being broken and now price testing and bouncing off of the second weekly number at that 1487.38
4&1 All Time Profit: $37,496
  • #52,602
  • Sep 10, 2019 12:47am Sep 10, 2019 12:47am
Quoting EventsTrader
Here's a look at the Japanese Yen (purple), Gold (green/red candles) correlation: {image}
Yeah bud, thats why we can always look to see what the Yen is doing to have a bit of an idea of what Gold may do.
That "Safe Haven" tag....

UJ will interest me if it manages to get to 108/109.1 i may consider shorting it again....
4&1 All Time Profit: $37,496
  • #52,603
  • Sep 10, 2019 12:55am Sep 10, 2019 12:55am
Quoting farukh
If day closes above 1500, worth taking risk on long. It is at low since 23rd Aug. sma200 got near to price, acted as support previously at 1400 price level.
Last day closed below 1500.. we need to see PA around 1482-1477.
If it holds support then we may have 1511 again else it would go further down to 1458
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,604
  • Sep 10, 2019 1:17am Sep 10, 2019 1:17am
Quoting farukh
{quote} Last day closed below 1500.. we need to see PA around 1482-1477. If it holds support then we may have 1511 again else it would go further down to 1458
Agreed Farukh, that 1458 handle is in line with the weekly mean reversion.
Time will tell bud, intra day wise, selling these minor rallies will be good...
4&1 All Time Profit: $37,496
  • #52,605
  • Sep 10, 2019 2:09am Sep 10, 2019 2:09am
Generally the XAUUSD market is sideways but with a northward mode atm. But we can expect a bearish turnaround after the present northward disposition.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #52,606
  • Sep 10, 2019 2:47am Sep 10, 2019 2:47am
Morning traders, a pullback to 1500 / weekly low area would be nice, which would also coincide with the m15 200 (roughly)......nice place to get in short again. Stochs on the H8 is down in the juicey end of things....could be more downside potential, aiming for qr1, ws2. Not really looking at longs yet, but would need to get above that m15 200 and get that weekly open back, then i would change my bias
Attached Image (click to enlarge)
Click to Enlarge Name: 7AACDBBD-967E-41D9-9CD4-5240AE27A363.jpeg Size: 120 KB
  • #52,607
  • Sep 10, 2019 2:59am Sep 10, 2019 2:59am
I am looking for 1493 level to hold!!, it will be too optimistic for Hedge funds to start selling on Partially positive economic environment.
  • #52,608
  • Sep 10, 2019 3:27am Sep 10, 2019 3:27am
Quoting Jp1
Morning traders, a pullback to 1500 / weekly low area would be nice, which would also coincide with the m15 200 (roughly)......nice place to get in short again. Stochs on the H8 is down in the juicey end of things....could be more downside potential, aiming for qr1, ws2. Not really looking at longs yet, but would need to get above that m15 200 and get that weekly open back, then i would change my bias {image}
On my chart m15 200 is around 1506.
I am also looking for that area to short. H1 sma50 is also at same area.
Contrary, if it doesn't hold that resistance, h4 resistance is at 1511-1515 level or 1520 (extended). Price is in oversold area on h4.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,609
  • Sep 10, 2019 3:31am Sep 10, 2019 3:31am
Quoting Jp1
Morning traders, a pullback to 1500 / weekly low area would be nice, which would also coincide with the m15 200 (roughly)......nice place to get in short again. Stochs on the H8 is down in the juicey end of things....could be more downside potential, aiming for qr1, ws2. Not really looking at longs yet, but would need to get above that m15 200 and get that weekly open back, then i would change my bias {image}
I am looking at loading more longs on it around the 1485 handle bud....
we remain patient
4&1 All Time Profit: $37,496
  • #52,610
  • Sep 10, 2019 3:44am Sep 10, 2019 3:44am
Quoting MzansiObi
{quote} I am looking at loading more longs on it around the 1485 handle bud.... we remain patient
If it heads back down there and creates a double bottom around 1486, I might join u! But hopefully i will be on the short into it first
  • #52,611
  • Sep 10, 2019 3:47am Sep 10, 2019 3:47am
Quoting farukh
{quote} On my chart m15 200 is around 1506. I am also looking for that area to short. H1 sma50 is also at same area. Contrary, if it doesn't hold that resistance, h4 resistance is at 1511-1515 level or 1520 (extended). Price is in oversold area on h4.
Nice bud!!!! COnfluence of factors that support further weakness at those said levels.
JP i think a daily pivot is also more or less at that handle too
4&1 All Time Profit: $37,496
  • #52,612
  • Sep 10, 2019 3:48am Sep 10, 2019 3:48am
Quoting Jp1
{quote} If it heads back down there and creates a double bottom around 1486, I might join u! But hopefully i will be on the short into it first
Did you miss the h4 200 EMA?
its also near a level i marked out this morning bro, the 1495.71....
4&1 All Time Profit: $37,496
  • #52,613
  • Edited 4:28am Sep 10, 2019 3:51am | Edited 4:28am
I am expecting a retest of the last support..or near the last support But this fix is strong in the month, maybe I do not operate gold today.
or I wait a sign of buying strength
  • #52,614
  • Sep 10, 2019 4:01am Sep 10, 2019 4:01am
Quoting MzansiObi
{quote} Did you miss the h4 200 EMA? its also near a level i marked out this morning bro, the 1495.71....
Nope, i have that on my phone mate (simple version), h1 800 sma....pretty much stopped/stalled the down move last night. But thats moving up at around 1491 now
  • #52,615
  • Edited 4:54am Sep 10, 2019 4:41am | Edited 4:54am
the gold has a downtrend in h4 i'm waiting it will break that line too,to buy.

in case it doesn't break I'll sell.
  • #52,616
  • Sep 10, 2019 4:46am Sep 10, 2019 4:46am
Quoting MzansiObi
{quote} Did you miss the h4 200 EMA? its also near a level i marked out this morning bro, the 1495.71....
It didn't work as support but now it's showing a bit resistance now. Looking for current h4 close..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,617
  • Sep 10, 2019 4:49am Sep 10, 2019 4:49am
Quoting MzansiObi
{quote} I am looking at loading more longs on it around the 1485 handle bud.... we remain patient
Best time will be US CPI data on Thursday. I guess it will be buy dips scenario since moderate or worst numbers are expected.
  • #52,618
  • Sep 10, 2019 5:06am Sep 10, 2019 5:06am
Quoting farukh
{quote} It didn't work as support but now it's showing a bit resistance now. Looking for current h4 close..
Well if you look at PA yesterday, the low of yesterday was just a couple of pips away from it, so although it didnt tag it it still rejected off of that handle somewhat briefly, look at what price action had previously done near that handle when it was previously near the handle.....
Attached Image (click to enlarge)
Click to Enlarge Name: TushiH4_LI.jpg Size: 830 KB
4&1 All Time Profit: $37,496
  • #52,619
  • Sep 10, 2019 5:56am Sep 10, 2019 5:56am
Quoting MzansiObi
{quote} Well if you look at PA yesterday, the low of yesterday was just a couple of pips away from it, so although it didnt tag it it still rejected off of that handle somewhat briefly, look at what price action had previously done near that handle when it was previously near the handle..... {image}
So are you long from here? And what target are you anticipating?
I am already long from 1491 SL 1485 TP 1503
P.S. Trade with the discipline of Money Management and Risk Management.
  • #52,620
  • Sep 10, 2019 6:14am Sep 10, 2019 6:14am
Quoting farukh
{quote} So are you long from here? And what target are you anticipating? I am already long from 1491 SL 1485 TP 1503
Nice entry.....better than mine! same target
95 traders viewing now