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

Life is short... go ahead...

25/09/19
Morning Traders

As things stand
H1 Buy area:1529.13 - 1526.31
H4 Buy Area:1522.28 - 1514.89


Yesterdays price action was subdued for the better part of the day, waited for price to break higher and close higher than the 1527 handle before we resumed buying H1 dips, following Londons bias during their first hour of trading. Price is currently back in our H1 Buy zone. The m15 200 MA has also tracked higher and price has failed to break and close higher than that 1533 handle that marks out a probable right shoulder on the H4 chart, as such, will wait to see for a deeper pullback to load more longs or a clear break ad close above that handle to continue buying H1 dips again.

Intra day levels
Upside
1559.10
1547.35
1539.68
1534.94

Downside
1527.77
1522.50
1518.88
1514.86
1507.19




Trade safe

buy 1528
SL : risk free
TP : open

stay green

1520-1524 area to buy..

Watch out guys ... this month's candle spent the month rising and falling. I like to wait for the price to stabilize to negotiate, to buy or selll

graphic when it's calm it's good...today is crazy...

Any good trade plan at arround 1505 ?

1490-15 is a good zone to buy guys.

gold-h1-pattern-bullish-forecast

XAU/USD tumbles to $1500 on USD strength
25 September 2019, 20:00

 

1. Gold loses more than $25, on the worst day since September 5.
2. XAU/USD now below the 20-day moving average, testing $1500.

Gold prices are sharply lower on Wednesday, on the back of a rally of the US Dollar across the board. Price traded near multi-week highs earlier today above $1,535/oz and currently stands at $1,506 under pressure.
The Greenback is higher despite political jitters in Washington. Today US President Trump released the transcript from his conversation with Ukrainian President. Later he mentioned that a deal with China could come sooner than “what you think”. US data may have also contributed to the strength seen in the US Dollar as New Home Sales jumped in August. Another key factor behind are higher US yields.
Other safe-haven assets like the Swiss Franc and the Japanese Yen are falling versus the US dollar, but not as much as Gold.
XAU/USD testing $1500
The yellow metal bottomed exactly at $1,500 before bouncing modestly to the upside. It is down almost 2% but so far holding on top of the mentioned area. The chart points to the downside as price dropped back under the 20-day moving average, also breaking a short-term uptrend line.
A consolidation below $1,500 could lead to more losses. The next support might be located at $1,492 followed by the September low at $1,482. Now, $1,510 is the immediate resistance followed by $1,515 (Sep 24 low) and $1,524.

Didn't get any candle signal in mentioned area but managed to get good profit on my inter day short @1530

I am long here on the 30M iib. Targeting 1510 and something ...

Price is still above sma50 @1503 & trendline @1500
If day close remains above mentioned areas then we may have buy upto 1511-1515

I'll wait longer ... it would be nice to lateralize before any move.

Hope you rode that baby all the way down!!!!!

took the loss at 1504 and reversed to short eying 1500

Yup!
I am still in trade, 1505-1508 area is showing good resistance. I'll bank it looking price action at that level

Well, great trade. I decided to close out my 1504 long position for a small profit. Time to rest and prepare to fight another day

I can't explain why this chart looks bullish but it's making me go long gold. I'm in and going to see it recover some of the losses earlier today.

The first red candle at the beginning is FOMC. Until earlier, it had been in rally mode. I don't think there's been any fundamental shift in market sentiment to warrant gold continuing to fall. Gold prices I think remain supported.

I don't know if you guys like renko charts but we might go to 1521-22.
OR push up to 1510 and then down.

I actually like renko charts a lot for system building. They're great for trend following since they won't result in bad trades during trendless periods.