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

  • #53,301
  • Oct 9, 2019 9:39am Oct 9, 2019 9:39am
Gold is trading in the zone of balance. Buyers perfectly meet sellers, bids have the same weight as asks. Take a look at the chart to see the situation more clearly.

I use Bar chart 4h, futures market on the COMEX Exchange. Red Zone represents the zone of Weakness. It appears from massive #SB (Supply Bar) on 25/Sep.

Since that time, we got advancing Zones of Strength (green squares). As you see, after minor Distribution around Support Zone, Price bounced up on #DB – Demand bar from 01/Oct. Note, how price did settle around the highs of that DB – this is a kind of Strength.

Lately, on 02/Oct we got another #DB. Plot Zone of Strength there. Price tested this Zone on 7/Oct.

So, the outlook is neutral. I can’t see any trustful clues for anticipations. Let’s wait for breakout – fake or real. Gold market is vulnerable to some sort of manipulation, IMO.

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Oleg Alexandrov, market analyst. Find me in Google
  • #53,302
  • Oct 9, 2019 10:16am Oct 9, 2019 10:16am
Waiting for a spike till 1511-13 or more ... ps: just feeling no analysis
Extreme gut feeling trader
  • #53,303
  • Oct 9, 2019 11:54am Oct 9, 2019 11:54am
Quoting montygoldy
ps: just feeling no analysis
Sometimes that works. That's mostly my approach as well
If in doubt, paddle out!
  • #53,304
  • Oct 9, 2019 1:41pm Oct 9, 2019 1:41pm
Quoting montygoldy
Waiting for a spike till 1511-13 or more ... ps: just feeling no analysis
what a feeling
best of luck
pha g
  • #53,305
  • Oct 9, 2019 2:09pm Oct 9, 2019 2:09pm
Quoting montygoldy
Waiting for a spike till 1511-13 or more ... ps: just feeling no analysis
It will get there eventualy The question is, will your position/swap hold for possible (temp) downtrend/downspiked till then?
Not saying they might appear, just asking Gold is so strong that if one would be in a BUY.. aka "buying the dips" (I usually dislike this strategy except for this market that seems to be almost nobrainer buy.. for the reasons I already explained many many times... backed up with some hard data...), he would get good returns and "develop" al kinds of reasoning for it... but in reality... just buying dips or even trading spikes or whatever.. but for those one must be much more skilful, much less for buying the dips... and the more leverage you add, the more skill needed.. I mean.. If one would just BUY and do NOTHING... he would outperform many, in the longru (let's say for a few years at least - for longer it is very hard to predict, but possible) I believe: )

Anyway.. not happy with USD price atm... My controlling base.. too strong atm...
Can you afford to take that chance?
  • #53,306
  • Oct 9, 2019 2:15pm Oct 9, 2019 2:15pm
Its weird that gold didn't interact with the war situation between Syria and Turkey,
i guess it might soar in no time at all because of that ..
Investing is SIMPLE but NOT EASY
  • #53,307
  • Oct 9, 2019 2:28pm Oct 9, 2019 2:28pm
Quoting Moly_Cam5
Its weird that gold didn't interact with the war situation between Syria and Turkey, i guess it might soar in no time at all because of that ..
How do you know it didn't... I mean if it was static like flatline before... and nothing would happen after... you might conclude that.. But how do you know that it did not reacted... maybe it would drop a little otherwise? Those kinds of things are common also in some other fields.. When you have some paramters/events that cancels each other out or counter it so smoothly that it seems nothing happened but in fact did much...

Or in other words.. the question is how much (of this kind of events) were already priced in and that the trend of it was (would be) without it...
Just saying....

But yeah, you might be right that there is some lag.. I mean market is so exhausted of this HIGH-impact Armageddon news.. that it is almost desensitised atm
People are so focused on the FED (again) that it sometimes seem that no matter if there would be news of meteorite shower (in gold or stone)... would not make a difference, people so focused on FED that can not do that much as people think.. in the long run.. and they know it...But they can sure kick can down the road.. at least one term more
Can you afford to take that chance?
  • #53,308
  • Oct 9, 2019 2:46pm Oct 9, 2019 2:46pm
Quoting auricforecas
{quote} It will get there eventualy The question is, will your position/swap hold for possible (temp) downtrend/downspiked till then? Not saying they might appear, just asking Gold is so strong that if one would be in a BUY.. aka "buying the dips" (I usually dislike this strategy except for this market that seems to be almost nobrainer buy.. for the reasons I already explained many many times... backed up with some hard data...), he would get good returns and "develop" al kinds of reasoning for it... but in reality... just buying...
vantage swaps are horrible its not worth it.
That's why closed it with a small profit.... now selling tp:1504.... entry 1507 sl: open
Extreme gut feeling trader
  • #53,309
  • Oct 9, 2019 2:47pm Oct 9, 2019 2:47pm
Quoting SurfsUp
{quote} Sometimes that works. That's mostly my approach as well
Thats my bread n butter ... i can call myself feeling trader
Extreme gut feeling trader
  • #53,310
  • Oct 9, 2019 2:50pm Oct 9, 2019 2:50pm
Holy mother father ***** ... just. Closed my position n the spike is here... pure bad luck n fear of swaps....
Extreme gut feeling trader
  • #53,311
  • Edited Oct 10, 2019 12:16am Oct 9, 2019 2:51pm | Edited Oct 10, 2019 12:16am
Quoting montygoldy
Holy mother father ***** ... just. Closed my position n the spike is here... pure bad luck n fear of swaps....
Yea man, I know how you feel... Still undecided what is worse... Losing trade or missed profits... Sometimes missed profits hurts more
Just to put some SALT on your wound You were right man... It seemed to SPIKE to 1511 Maybe some HF bot traded on your post
Can you afford to take that chance?
  • #53,312
  • Oct 9, 2019 3:01pm Oct 9, 2019 3:01pm
Quoting auricforecas
{quote} Yea man, I know how you feel... Still undecided what is worse... Losing trade or missed profits... Sometimes missed profits hurts more Just to put some SALT on your wound You were right man... It seemed to SPIKE to 1511 Maybe some HF boot traded on your post
I cannot quote my post from daily trading thread in forexfactory.. i clearly posted that i have a feeling we will spike till 1511-13 then it will fall..... before fomc...... hf boot was justing waiting for me to close... as it spiked exactly after 5mins... thats last one supposed to be 3k
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Extreme gut feeling trader
  • #53,313
  • Oct 9, 2019 3:06pm Oct 9, 2019 3:06pm
Now i am short... can i get 1504 please... today or in asian session...
Extreme gut feeling trader
  • #53,314
  • Oct 9, 2019 6:13pm Oct 9, 2019 6:13pm
10/10/19.

As things stand, price spent the better part of the trading day capped at the 1509/10 handle, overall bias for the day as per market structure was bullish and the H1 and H4 zones remained intact with prices finding support near 1501 downside level. We cautiously bought dips all day from the zones and kept scalling out as and when price hit the overhead resistance. and Recycled the buy zone to go long again. Outlook for today remains the same, we keep moving in tandem with price action so long as zones remain intact, and the intra day levels hold and maintain the overall structure.

H1: Bullish: Buy Zone:1505.01- 1507.11
H4: Bullish: Buy Zone:1501.8 - 1504.5
D1;Neutral with Bullish Bias: 1499.43 - 1503.31


Intra day Levels:
Upside
1535.08
1527.83
1523.81
1521.56
1518.12

Downside
1510.35
1505.54
1503.98
1498.22
1492.96

attached charts with weekly numbers to give perspective of where we have come since beginning of the week and the associated H1 and H4 charts

Trade Safe
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4&1 All Time Profit: $37,496
  • #53,315
  • Oct 9, 2019 6:15pm Oct 9, 2019 6:15pm
Quoting goldgirl
{quote} Agree. I had moved my stoploss to BE. I am not selling till 1519.
Tp1 is approaching. I had a re-entry at 1502 with SL 1480. Since 1500-1510 act as stubborn resistance range, I adjust my Tp1 to Tp2 1533.
  • #53,316
  • Oct 9, 2019 7:24pm Oct 9, 2019 7:24pm
Quoting goldgirl
{quote} Tp1 is approaching. I had a re-entry at 1502 with SL 1480. Since 1500-1510 act as stubborn resistance range, I adjust my Tp1 to Tp2 1533.
H1 buy zone providing another buy entry.......
Closing some and calling it a night see you all in a bit....
4&1 All Time Profit: $37,496
  • #53,317
  • Oct 9, 2019 7:57pm Oct 9, 2019 7:57pm
Quoting LCForex
Gold {image}
Still waiting 1600.
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Don't believe me just watch!
  • #53,318
  • Oct 10, 2019 4:56am Oct 10, 2019 4:56am
Price is coming closer to breakout but be careful first breakout may be the false one..
MAs & different patterns are showing bullish but price action is very mixed. Upper range of lower trendline is showing strong resistance
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,319
  • Oct 10, 2019 8:08am Oct 10, 2019 8:08am
Quoting farukh
Price is coming closer to breakout but be careful first breakout may be the false one.. MAs & different patterns are showing bullish but price action is very mixed. Upper range of lower trendline is showing strong resistance
What are you seeing to project a breakout? I've seen a few posts here expecting it. It feels like the range has been pretty tight with decent support and resistance on both sides.
If in doubt, paddle out!
  • #53,320
  • Oct 10, 2019 8:35am Oct 10, 2019 8:35am
GOLD 1 hr possible double top formation.
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