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

yes seems I am only somewhat good at daytrading (should be better now that I deleted 2 fake setups from my system) and longer term predictions escape me. You saw this correctly mate !

#GOLD / H4 / Two Ideas

yes Mohsin vai, 1445-55 : NFP issue. Thanks...

long 1471.56

Why you keep trading against the current trend....
It's ok if you are in out within15m-30m
Otherwise you are looking for trouble...

there is a morning star on the 30m chart so this should take us higher

Candles are good to look at if you are on same timezone as Chicago....even that you cant really rely....timeframes you looking daily or 4h or 1h or 30m...its really dangerous and more of a gamble

stopped out, I know why now after the fact, my indicator wasn't setting uup rightly .... one more thing to remember.

can we get a retracement till 1474-75 before the end of the day... I am long since 1465.. don't want monstrous swaps for 5 lots....

Edited: nearly there a bit more push push pushhh...


another edit: now i am being greedy tp increased to 77

we have a 15M divergence so target should be around 74

Good to see candles but in relation with other indicators.
Candles alone doesn't work..

yes, that summarises the lesson for me of today. I was lacking indicators in my setups and had to adjust somewhatt .... hopefully tomorrow a better day.

Closed at 74

entered short 1473 tp: 1470 or only swaps.... lots: XXXXX

A Medium term outlook seems a formation of -Bullish Flag on Daily chart. Its matching with the Date-10/10/2019 where US CHINA TRADE DEAL will resume. As expected it will not be a smooth ride, lot of issues will surface. Ultimate support I Can see is at 1446. I dont think in 2019, it will go below 1446.

As per technical bullish flag measurements- it has capacity to reach at least up to 1560, if broken upside.

1/10/19

Morning Traders
As things stand D1 support as broken and price has closed lower for the first time in weeks, H1, H4 and now on the daily we inally have a lower high lower low structure playing out, there are a couple of patterns and or structures that seem to suggest bottoming out in the 1450 -1420 range before the structure/price decides on what it wants to do, however, for now, we have our Selll zones clearly defined and also an Rsi thats still pointing to the bottom, so will still look to see what the bug boys do, IE Londons first hour of trading and then have a look at where price is relative to our zones and and intra day levels...trade safe...

H1: Sell Zone:1474.07 - 1480.02
H4: Sell Zone:1487.76 - 1496.32



Intra day Levels
Upside
1529.62{Extension Levels}
1515.05{Extension Levels}
1501.29
1486.80
1492.29
1479.03

Downside
1465.27
1456.77
1443.01
1421.56

Weekly levels still remain valid and intact, and the downside levels that were taken out should still be monitored as and when price tries to rally
To the Bottom we still have three levels to go.....the 1457.55,1445.70 and lastly 1428.30




new month, new possibilities, lets see...
Trade safe

Gold:

Is the "Golden Week" in China the reason for the actual downmove ??

Sixer

We're getting close to where I'd buy the dip on gold. I'd probably scale in, buying some now, more at 1,450 and a final entry around 1,440. Gold is in a new bull market so I'd feel totally comfortable getting long and holding for the next year. Sadly I can't participate at the moment due to a compliance issue on my accounts.

By the way, to anyone doubting whether or not gold is really in a new bull market check out this chart of GVZ (gold's volatility index):


See how much volatility has picked up over the past few months? It kept hitting lower lows, then exploded higher and stayed elevated... That price action strongly supports a shift in the trend and I believe there's a lot of upside ahead for gold.