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

  • #53,421
  • Oct 16, 2019 9:37am Oct 16, 2019 9:37am
It's trying to form an ib at ema100 on the 15M, that's a signal for me if it breaks to the upside .... Just a bit more patience ...
MTF PA with indicators = a winning team
  • #53,422
  • Oct 16, 2019 9:54am Oct 16, 2019 9:54am
Quoting notyetthere
It's trying to form an ib at ema100 on the 15M, that's a signal for me if it breaks to the upside .... Just a bit more patience ...
buy 1485.10
MTF PA with indicators = a winning team
  • #53,423
  • Oct 16, 2019 10:52am Oct 16, 2019 10:52am
Sure I think GOLD has bear sentiments - USD might test it lowest buy London Session Close - New York Open Market today. - If 97.75 will not hold but 97.60, for USD.

I hope GOLD will test 1494.20 will have a good sell targeting 1478.0. Will also be watching 1488.50 to 1491.00 for a sell to targeting i) 1480.0 ii) 1478.0 iii) 1470.0
Kamunda
  • #53,424
  • Oct 16, 2019 11:22am Oct 16, 2019 11:22am
Any one wants to go long with me...
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Extreme gut feeling trader
  • #53,425
  • Oct 16, 2019 11:23am Oct 16, 2019 11:23am
Quoting farukh
Buy @1484 tp1 1487 tp2 1494 Price reached m15 buying area above sma50. Both targets are selling area. Later we can sell watching what price action will be..
Closed @1490
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,426
  • Oct 16, 2019 11:33am Oct 16, 2019 11:33am
Quoting montygoldy
Any one wants to go long with me... {image}
What do you anticipate?
In my view 1494 may be the high to drop further..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,427
  • Oct 16, 2019 11:36am Oct 16, 2019 11:36am
Quoting farukh
{quote} What do you anticipate? In my view 1494 may be the high to drop further..
yep i am expecting a small spike before fall.. probably 1493-94 tp set to 1493... thats what i am aiming.. sl moved: 1488.... will close today otherwise monstrous swaps..
Extreme gut feeling trader
  • #53,428
  • Oct 16, 2019 11:47am Oct 16, 2019 11:47am
On the left side you see 3d #gold chart, a lot of volume arrived on up-bars in the first half of August. Too much volume on up-bars - is a sign of Hidden Weakness as professional money get an opportunity to close big blocks of longs and spread gold contracts over the buying rush of FOMO public (retail traders). Ths spike in Google trends data confirms the FOMO sentiments. So, if the get the first sign of major distribution range, then what the bearish responses?

1) price can not bounce up from line B and drop to line C.
2) we have a red zone of weakness, it has built from the big Supply Bar.
3) study the profile of up-wave in the first half of October. It has a shape of "P". Bearish indication.
4) Price declined below the POC level of up-wave in the first half of October. Bearish indication.

Takin into account considered facts, I believe if gold will break down line C, it will reach D.
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Oleg Alexandrov, market analyst. Find me in Google
  • #53,429
  • Oct 16, 2019 1:04pm Oct 16, 2019 1:04pm
Although USD is in favourable position, in my views anyway, dropped a little strength in order to regain it (slowly) now... if I'm right anyway...
But GOLD has been very disappointing for me lately... I expected it to pass 1500 rather easily.. but whenever it is close to do that.. it hits the wall... strong resistance... so I am trying to swing under it atm... In fact, just had one opportunistic burner in play.. once it gets through... I am done trading golf for this/the week... Still optimistic it will rebound though...
Can you afford to take that chance?
  • #53,430
  • Oct 16, 2019 1:08pm Oct 16, 2019 1:08pm
Quoting montygoldy
{quote} yep i am expecting a small spike before fall.. probably 1493-94 tp set to 1493... thats what i am aiming.. sl moved: 1488.... will close today otherwise monstrous swaps..
closed it at 1489....
Extreme gut feeling trader
  • #53,431
  • Oct 16, 2019 3:59pm Oct 16, 2019 3:59pm
Quoting montygoldy
{quote} closed it at 1489....
Can't blame you man... GOLD seems to be in a GRIDLOCK atm... in fact, for the last few days at least... I am so exhausted of trading it this week...
Just one burner in play and then I'm done for the week... Hopefully it will start to move next week... Hope we won't be in a stall until the FINAL decision that might happen at the end of the month.. brexit, fed, ecb...
Can you afford to take that chance?
  • #53,432
  • Oct 16, 2019 4:15pm Oct 16, 2019 4:15pm
I am shorting now... tp: 1487.....

good day more then 200% gain....
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Extreme gut feeling trader
  • #53,433
  • Oct 16, 2019 5:00pm Oct 16, 2019 5:00pm
With headlines about Brexit, China-US trade, Turkey, etc, gold has been pretty volatile. This morning gold and the Japanese yen correlation broke down and has diverged. In a risk environment we usually see a higher correlation. I think this breakdown has a lot to do with the limited downside gold has with all the global turmoil in light of any Brexit deal hopes. I also think this might be a sign there could be a big move coming soon, and probably higher because the US and China didn't really make much progress in trade talks. I'll be looking for long entries in gold later, closer or after the SHFE open.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #53,434
  • Oct 16, 2019 5:20pm Oct 16, 2019 5:20pm
Quoting auricforecas
{quote} Can't blame you man... GOLD seems to be in a GRIDLOCK atm... in fact, for the last few days at least... I am so exhausted of trading it this week... Just one burner in play and then I'm done for the week... Hopefully it will start to move next week... Hope we won't be in a stall until the FINAL decision that might happen at the end of the month.. brexit, fed, ecb...
Yep, gold has been going nowhere lately. Selling GLD options has been the moneymaker.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #53,435
  • Oct 16, 2019 8:17pm Oct 16, 2019 8:17pm
Quoting montygoldy
I am shorting now... tp: 1487..... good day more then 200% gain.... {image}
Guys can i get 1485 tp... i waited with my balls in my mouth when it spiked first....
Extreme gut feeling trader
  • #53,436
  • Oct 16, 2019 9:08pm Oct 16, 2019 9:08pm
Quoting montygoldy
{quote} Guys can i get 1485 tp... i waited with my balls in my mouth when it spiked first....
LOL, But they made out of steal so youre good....



17/10/19

As mentioned yesterday, daily close above 1485 handle gives bulls some room to go higher.

We are still below weekly open and pivot, but a push up towards said levels from these lows can't be ruled out.
Interim support now sits at yesterday's first intraday downside level at 1476/7.

Price action was somewhat sloppy yesterday in that the strong rejection from the intra day support failed to get us closing above 1490 handle......we were capped by the H1 200 EMA and it's posing a challenge for price at the moment. A close above and retest of the level as support will expose the upper band of the intra day and weekly levels

H1 flippedbullish :zone:1487 -1488.18
H4 still bearish : zone: 1490.47 -1487.81
D1 Bearish to neutral: zone: 1493.64 -1495.99

Intra day levels for today
Upside
1509.88
1501.1
1497.88
1495.16
1491.73
Downside
1487.31
1484.34
1480.63
1477.20
1471.65

Green Pips Bud
4&1 All Time Profit: $37,496
  • #53,437
  • Oct 16, 2019 9:17pm Oct 16, 2019 9:17pm
Quoting montygoldy
{quote} Guys can i get 1485 tp... i waited with my balls in my mouth when it spiked first....
nevermind closed the trade with a very tiny profit of 200$.. as i completely lost hope in the trade...
Extreme gut feeling trader
  • #53,438
  • Oct 16, 2019 9:32pm Oct 16, 2019 9:32pm
Quoting EventsTrader
With headlines about Brexit, China-US trade, Turkey, etc, gold has been pretty volatile. This morning gold and the Japanese yen correlation broke down and has diverged. In a risk environment we usually see a higher correlation. I think this breakdown has a lot to do with the limited downside gold has with all the global turmoil in light of any Brexit deal hopes. I also think this might be a sign there could be a big move coming soon, and probably higher because the US and China didn't really make much progress in trade talks. I'll be looking for...
Herein lies another clue, UJ is in a clear uptrend as per our zones on the Daily chart, But the stagnation near the 200 EMA is telling, Break and close higher/Above it, me thinks Gold drops lower till it catches a bid near the next strategic level close lower/ dip back into buy zone, Gold heads back north.....Just my two cents worth on the correlation issue
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4&1 All Time Profit: $37,496
  • #53,439
  • Oct 16, 2019 9:32pm Oct 16, 2019 9:32pm
Quoting montygoldy
{quote} nevermind closed the trade with a very tiny profit of 200$.. as i completely lost hope in the trade...
Bank that change...it all adds up....
4&1 All Time Profit: $37,496
  • #53,440
  • Oct 16, 2019 9:38pm Oct 16, 2019 9:38pm
Quoting MzansiObi
{quote} Herein lies another clue, UJ is in a clear uptrend as per our zones on the Daily chart, But the stagnation near the 200 EMA is telling, Break and close higher/Above it, me thinks Gold drops lower till it catches a bid near the next strategic level close lower/ dip back into buy zone, Gold heads back north.....Just my two cents worth on the correlation issue {image}
It's tough to argue that standpoint. There's a lot of optimism around Brexit and US-China trade relations. Gold seems to have some pretty strong downward price pressures.
We must learn who is gold, and who is gold plated
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