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

  • #53,341
  • Oct 11, 2019 9:09am Oct 11, 2019 9:09am
Quoting tush1822
{quote} Considering the development arround the BREXIT and TRADE TALKS, I think the daily trend will break today. On Moday we will realize the breakout is valid or fake. I am expecting the 1476 range today.
The daily TL is broken. PA will settle today in 1472-1476 region.
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  • #53,342
  • Oct 11, 2019 9:16am Oct 11, 2019 9:16am
Quoting tush1822
{quote} The daily TL is broken. PA will settle today in 1472-1476 region. {image} {image}
Next week the core retail sales and Mfg INDEX might reverse the fall of gold. Have a nice weekend Guys. I am done for the week.
  • #53,343
  • Oct 11, 2019 12:16pm Oct 11, 2019 12:16pm
Quoting auricforecas
{quote} Well situation improved much since the time of above post (cca 27h ago)... It almost went to the level I wanted it too... Still not fully there yet.. might be tomorrow or (by the mid of) next week... So it increased my confidence.. due to this quality parameter improving much... So I am even more confident for XAU/USD going up, just after this correction gets through... Wonderfull opportunity for BUY.. since anything below 1500... is almost a no-brainer buy for me... But just to be on the careful side... will wait for more optimal entry...
Ok finally am I happy with where the USD is atm... It is exactly where I have been predicting it... Check my previous posts... So this give me confidence.. since I am using same (core) of price prediction model on all markets I am in.... Gives me confidence that we will see GOLD up as a mofo.. hopefully slowly.. so we can re-trade it many many times... idea being that we buy, close (release), wait for it to drop a little, buy again.. etc... Otherwise just BUY and hold (doing nothing) might be better. But since we believe in (more) TRADING than that.. that would be the the aim now

GOLD going up man...

But please note that ALL my markets/models will be heavily updated at the end of OCT... I already have a glimpse/draft.. and it seems that GOLD will continue to go up after that, almost regardless what happens in/to other markets... that might very well change much! So to be seen.. but at least till end of the month.. I see GOLD nowhere but UP! Where else? quite exceptional market, almost "absolute" and almost detached from the (potential future) mess of others
Can you afford to take that chance?
  • #53,344
  • Oct 11, 2019 2:25pm Oct 11, 2019 2:25pm
Quoting Kausar.IA
GOLD 1 hr possible double top formation. {image}
10-10-2019 XAUUSD was forming a double top 1 hour and same has completed today. we have also seen double top neckline breakout, I am still bearish on it. we can see more bearish below initial support of 1477.
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  • #53,345
  • Oct 11, 2019 4:41pm Oct 11, 2019 4:41pm
hello,
in my view its this:

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  • #53,346
  • Oct 11, 2019 4:44pm Oct 11, 2019 4:44pm
..a fake double top.
big bull flag D1
cheers
  • #53,347
  • Oct 11, 2019 4:46pm Oct 11, 2019 4:46pm
maybe down 1460 then NORTH!!
  • #53,348
  • Oct 11, 2019 5:04pm Oct 11, 2019 5:04pm
compare with xauusd H4:

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  • #53,349
  • Oct 11, 2019 5:11pm Oct 11, 2019 5:11pm
...i am LONG!!
  • #53,350
  • Oct 11, 2019 8:36pm Oct 11, 2019 8:36pm
Quoting tush1822
{quote} The daily TL is broken. PA will settle today in 1472-1476 region. {image} {image}
Looks like something was missing in the analysis. I was't expecting PA reach upto 1490. It is still bullish , anyone has got idea?
  • #53,351
  • Oct 11, 2019 11:46pm Oct 11, 2019 11:46pm
Quoting tush1822
{quote} Looks like something was missing in the analysis. I was't expecting PA reach upto 1490. It is still bullish , anyone has got idea?
Last week low was not broken out by current week, and it was a good hammer too at lower range.
On the other side we are in lower daily trend now.
A bit confusing at the moment, price is going up and then down in range. It may breakout either North or South to continue it's new direction.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,352
  • Oct 12, 2019 1:28am Oct 12, 2019 1:28am
Quoting farukh
{quote} Last week low was not broken out by current week, and it was a good hammer too at lower range. On the other side we are in lower daily trend now. A bit confusing at the moment, price is going up and then down in range. It may breakout either North or South to continue it's new direction.
Ok, but do you think some other news o we powering other than two big ones -trade deal and BREXIT?
  • #53,353
  • Oct 12, 2019 2:40am Oct 12, 2019 2:40am
Quoting tush1822
{quote} Ok, but do you think some other news o we powering other than two big ones -trade deal and BREXIT?
Dude I observed that you do consider news in trading.. yes good news will trigger it more down to 1430s or even more to 1380s and after reaching that there will be some bad news that will take it again to new highs may be 1600 level.
I believe price move technical and more of psychological. It already reached 1458 fib61.8 from low of 1400. If this is the low then all bad news will bring it to 1600 level because fib61.8 from all time high on monthly chart hasn't reached yet.
Contrary, if 1458 is to be broken out then all good news will bring it to further lower levels I mentioned above which are fib50 and fib61.8 from low of 1267.
Now what I look is to enter trade on certain levels with RR 1:2 at least, like I took short @1505 on Thursday and earned profit when mostly were sharing bullish comments but unfortunately had a loss yesterday due to misread aggressive price action in morning and took long.

Key area to sell around sma200 on h4 and sma50 on h1.
If sma200 on h4 is broken and closed above then long.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,354
  • Oct 12, 2019 9:59am Oct 12, 2019 9:59am
Hi
Stupid Rookie question here. I find it difficult to access Gold information for trades
Is there a Good/ Realiable / Intellegent group on Telegram where they only discuss metals and Oil?
Please post the link or name here if you know of any.
Thanks
  • #53,355
  • Oct 13, 2019 4:14am Oct 13, 2019 4:14am
It's crazy.. just searched some articles through the weekend and there seems (still) to be massive buying spree(s) for GOLD. So I might even say it is still CHEAP atm
Many opportunities coming, we might even see in the next week, some developments in motion... I might say that USD picture after the halloween might get interesting But whatever I check, wherever I look, it seems to show BRIGHT future for GOLD At least for the next few years...
Can you afford to take that chance?
  • #53,356
  • Oct 13, 2019 5:41am Oct 13, 2019 5:41am
1440 At least.
Thank me later

note that if UJ breaks up (which is likely) gold will collapse.

however long term is to the bulls

I’ll buy at 1370.
  • #53,357
  • Oct 13, 2019 6:27am Oct 13, 2019 6:27am
conflicting outlook on daily/weekly. Daily is bull flagging.
Weekly looks topped out. Pick your poison.
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  • #53,358
  • Oct 13, 2019 7:30am Oct 13, 2019 7:30am
I think in short term, at least until next one and two weeks, fundamentally and sentiment still favour the bear. Trump's tweet over US-China Trade and Retails sales might not that bad. The bear might re-testing again the previous Support 1458. Maybe..
  • #53,359
  • Oct 13, 2019 11:59am Oct 13, 2019 11:59am
13/10/19 -18/10/19

Hope We all enjoying the weekend.

In terms of the week that was, Price traded within the range of the previous weekly bullish hammer pattern, an attempted break above saw prices capped at the 1517 handle which is close to the top of the bullish hammer and also coincided with our first weekly level..., Price is back retesting the lows of the pattern that formed two weeks back.
This consolidation has got us confined within the 1459.1 -1519.64 range, and as such our Daily chart is neutral, H4, neutral with a bearish bias. and H1 currently bearish....Although our zones are clearly defined, it becomes important to note price action and chart patterns near the range low and range high(Eg, Higher High setups, Head and Shoulder patterns etc)in conjunction with our weekly and intra day levels.
Outlook for the next couple of sessions is that price will continue trading within this downward channel that seems to be forming a possible bullish flag before catching a bid again at or near the weekly buy zone, but we follow price action on an intra day bases and look to move in the path of least resistance......Daily Rsi is still pointing us lower while the weekly Stochs are beginning to point higher so lets trade with patience and wait for our levels and zones....


As things Stand
H1: Sell Zone:1487.81 - 1491.46
H4: Sell Zone:1494.52 - 1497.17
D:Neutral.



Weekly Levels
Upside
1535.95
1519.53
1511.99
1509.39
1492.97

Downside
1476.55
1469.01
1466.41
1449.99
1426.03


Will post the intra day levels for Monday Shorty after Market open....


Trade Safe
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4&1 All Time Profit: $37,496
  • #53,360
  • Oct 13, 2019 4:29pm Oct 13, 2019 4:29pm
Judging by the slight Japanese yen strength at the FX open, it's looking like we should get a minor gap up in Gold at the open. Nothing significant. With Japan and US on a holiday, expect lower liquidity over the next 24 hours. I expect some volatility at the SHFE open since some headlines came out later on Friday that Chinese traders may not have priced in.
We must learn who is gold, and who is gold plated
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