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

  • #53,381
  • Oct 15, 2019 1:07am Oct 15, 2019 1:07am
Quoting farukh
{quote} H1 & h4 buy zones also coincide @1490 level, if it remains support then we may get price upto h4 sell zones 1499 or 1505 extended.
Agreed.


The reality is that so long as price remains above the weekly open and above the m15 levels we will keep trying to challenge 1497, and something ought to give,

Past couple of hours buying off of H1 Buy Zone and Selling H4 sell zone has been working, wash rinse and repeat till either one breaks, for now reduced lot sizes till it decides where its going, so long as it just moves now.....
4&1 All Time Profit: $37,496
  • #53,382
  • Oct 15, 2019 2:05am Oct 15, 2019 2:05am
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  • #53,383
  • Oct 15, 2019 4:00am Oct 15, 2019 4:00am
Quoting MzansiObi
{quote} Agreed. The reality is that so long as price remains above the weekly open and above the m15 levels we will keep trying to challenge 1497, and something ought to give, Past couple of hours buying off of H1 Buy Zone and Selling H4 sell zone has been working, wash rinse and repeat till either one breaks, for now reduced lot sizes till it decides where its going, so long as it just moves now.....
I manage to catch some lots at 1489++ too.
  • #53,384
  • Oct 15, 2019 6:19am Oct 15, 2019 6:19am
Good job guys.. Please which indicator do you think I can use cos am still learner
  • #53,385
  • Oct 15, 2019 6:46am Oct 15, 2019 6:46am
Get one trendfollowing indicator (= multiple ema's for example) and one oscillator (slow stoch for example) .... use mtf to get an overall view of the big picture
MTF PA with indicators = a winning team
  • #53,386
  • Oct 15, 2019 7:01am Oct 15, 2019 7:01am
short 1493.54 = hourly divergence in sto
MTF PA with indicators = a winning team
  • #53,387
  • Oct 15, 2019 10:34am Oct 15, 2019 10:34am
some short covering but this is not over here to the downside ...
MTF PA with indicators = a winning team
  • #53,388
  • Oct 15, 2019 1:07pm Oct 15, 2019 1:07pm
A 3+ hour support level holding. Decided to go long. Bought at 1481. SL 1476. TP1 1485. TP2 1490.5. Where is it going and is there any explanation for the drop surrounding NY Open?
If in doubt, paddle out!
  • #53,389
  • Oct 15, 2019 1:31pm Oct 15, 2019 1:31pm
it's all technical: it was the divergence on the hourly that brought us so low and I am expecting even more lows. Too early to buy ... the last low level seems better for that, if not postpone till tomorrow to buy.
MTF PA with indicators = a winning team
  • #53,390
  • Oct 15, 2019 1:42pm Oct 15, 2019 1:42pm
Quoting notyetthere
it's all technical: it was the divergence on the hourly that brought us so low and I am expecting even more lows. Too early to buy ... the last low level seems better for that, if not postpone till tomorrow to buy.
I am in already, but near break even (have even been in the green for a bit). Debating closing out and sitting and watching after all the feedback in these forums.
If in doubt, paddle out!
  • #53,391
  • Oct 15, 2019 2:21pm Oct 15, 2019 2:21pm
adding to my short herer with target 1077.20 in mind
MTF PA with indicators = a winning team
  • #53,392
  • Oct 15, 2019 2:22pm Oct 15, 2019 2:22pm
Quoting SurfsUp
{quote} I am in already, but near break even (have even been in the green for a bit). Debating closing out and sitting and watching after all the feedback in these forums.
get out while you can not when you have to and look for lower prices to contemplate a long ...
MTF PA with indicators = a winning team
  • #53,393
  • Oct 15, 2019 3:37pm Oct 15, 2019 3:37pm
Huh ppl... Although USD is EXACTLY when I planned/expected it to be.. and the decline seem to be exact... this does not help my GOLD market
Still a good support I believe but it is a torture for it being below 1500... It needs some sort of "uncertainty" fuel Demand still good and all, just needs some TURBO boost I guess But as long as it doesn't fall much further... To be honest I would be out of the market if uncertain... This month (end) is tricky... FED party coming and all... Would still bet on current (UP) trajectory.. but would pull out ALL my trades before the party and re-enter in NOVEMBER...
Can you afford to take that chance?
  • #53,394
  • Oct 15, 2019 5:27pm Oct 15, 2019 5:27pm
small size trade :
- short @1480.71, SL : 1486, TP : open
- tight triangle
- Fib .23 resistance
- Hidden bearish div

its on M15 so that's lots of gambling for so little confluences... lol
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  • #53,395
  • Oct 15, 2019 5:36pm Oct 15, 2019 5:36pm
we also have hourly iib break to the downside :-)
MTF PA with indicators = a winning team
  • #53,396
  • Oct 15, 2019 5:57pm Oct 15, 2019 5:57pm
As I said I few times, I think we're going back to 1,450 before we have make the next move higher in this bull market. One fundamental reason for higher gold could be the US-China trade deal falling apart which is easy to envision.

Less trade > Less growth > Lower rates / Higher money supply > Higher gold


Even if the trade war resolves the economy is looking shaky so I suspect monetary policy will become increasingly accomodative either way. The difference here has to do with timing, if trade falls apart we could be looking at $1,600 gold in a couple months. If it holds we might go into a sideways period for awhile before the bull market resumes.

Longer term I'm looking for a new high, meaning gold > 1,924:

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Self-sufficiency is the greatest of all wealth. - Epicurus
  • #53,397
  • Oct 15, 2019 6:45pm Oct 15, 2019 6:45pm
Monthly chart.
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  • #53,398
  • Oct 15, 2019 7:39pm Oct 15, 2019 7:39pm
LiveSquawk
China To Retaliate Over U.S. House's Bill On Hong Kong
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  • #53,399
  • Oct 15, 2019 8:17pm Oct 15, 2019 8:17pm
10M bearish engulfer with sto hidden divergence, we should be back on our way down till 1477.20
MTF PA with indicators = a winning team
  • #53,400
  • Oct 15, 2019 8:22pm Oct 15, 2019 8:22pm
Quoting notyetthere
10M bearish engulfer with sto hidden divergence, we should be back on our way down till 1477.20
gold seem goin back to 1500
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