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

  • #53,521
  • Oct 21, 2019 10:12am Oct 21, 2019 10:12am
Quoting Tekin
{quote} i am not sure, already did a scalp from 1494.28 to 1491.01 but still not sure where to go. tomorrow is new day, i will look tomorrow (opportunities never goes away important is the cash in your wallet)
1494.5 was the new high for me ... reversed there though when I saw the ib break on the 15M
MTF PA with indicators = a winning team
  • #53,522
  • Oct 21, 2019 10:18am Oct 21, 2019 10:18am
Not completely but partially missed trade be carrefull people
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  • #53,523
  • Oct 21, 2019 3:38pm Oct 21, 2019 3:38pm
GOLD should be back on track tomorrow, above 1490+ ...till then : WTF!!!
  • #53,524
  • Oct 21, 2019 4:09pm Oct 21, 2019 4:09pm
Quoting RobyTurboSS
GOLD should be back on track tomorrow, above 1490+ ...till then : WTF!!!
I concur, would suspect GOLD would be in much better standing due to EUR/USD and UNCERTAIN "parameters"...
It is puzzling... I think we might be back on track (gold 1500+) by the end of the week or till the end of the month the "latest"... Or man... you know...
"May I take your order"
Can you afford to take that chance?
  • #53,525
  • Oct 21, 2019 4:26pm Oct 21, 2019 4:26pm
Hi team , after weeks gap got time to sit and do some analysis for rest of the month.
Gold is sideways since last two-three weeks. I am not convinced on long entry last week and may be this week. Here are the details of the outlook.

-US CHINA trade deal - mixed outlook till Nov mid.
-BREXIT- positive but still mixed (Tomorrow again the bill will be defeated but No deal option is completely wiped out)
-Above two I think are cancelling each other on Gold.
-Mfg PMIs and CPI outlook of US is still weak and possibly it will drive the FOMC to cut rate. If this is the case, from technically its making senses on the chart. Perfect long entry can be made at 1453 where confluence of 100day MA, falling trend line and Major support.
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  • #53,526
  • Oct 21, 2019 4:51pm Oct 21, 2019 4:51pm
Quoting auricforecas
{quote} I concur, would suspect GOLD would be in much better standing due to EUR/USD and UNCERTAIN "parameters"... It is puzzling... I think we might be back on track (gold 1500+) by the end of the week or till the end of the month the "latest"... Or man... you know... "May I take your order"
The Market test our patience sometimes...one thing i understood about trading ...if the market holds you back (not moving) 100 days, in the 101 day will pay you for the entire 101 days...time is money and patience pay by itself...
  • #53,527
  • Oct 21, 2019 5:03pm Oct 21, 2019 5:03pm
Quoting RobyTurboSS
{quote} The Market test our patience sometimes...one thing i understood about trading ...if the market holds you back (not moving) 100 days, in the 101 day will pay you for the entire 101 days...time is money and patience pay by itself...
Yeah.. talking about this and this?
Can you afford to take that chance?
  • #53,528
  • Edited 5:34pm Oct 21, 2019 5:22pm | Edited 5:34pm
Quoting auricforecas
{quote} Yeah.. talking about this and this?
yes absolutely ...the only thing that matter is the reason you decided to take the trade ...if the reason is the right one you should not give up in any way even if the market will try in 1000 ways to make you change it....in the end, everything will resume in your direction and you'll tax it with interests...people who doesn't know why they initially got into a trade will give up quickly with a loss and reverse direction to recover from it ,but they will make another loss in the reverse direction and will change back again etc,etc...and finally will make a statement like this one :"We are here because we are not succesfull in this game"...
  • #53,529
  • Oct 21, 2019 5:43pm Oct 21, 2019 5:43pm
Heads up that the Fed's black out period for the upcoming FOMC meeting is Oct. 19-31. It started on Saturday. We won't hear anything further from Fed officials but the CME FedWatch Tool is showing the market is increasingly betting on a rate cut at the upcoming meeting:

A week ago the probability of a rate cut was closer to 75%. Now it's at 93%.
Attached Image (click to enlarge)
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This is gold positive but there's a lot weighing on gold right now, mostly Brexit. Volume has been lighter than average so far this week. We could see an attempt at those recent Oct 1st lows, but over the long term fundamentals are in pretty strong support of higher gold prices. Short term trading has and might continue to be tough, but long term I see gold as a clear buy.

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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #53,530
  • Oct 21, 2019 5:49pm Oct 21, 2019 5:49pm
Quoting auricforecas
{quote} Yeah.. talking about this and this?
haha yes, that's my avatar ! persistence is key in everything IMO
  • #53,531
  • Oct 21, 2019 6:06pm Oct 21, 2019 6:06pm
  • #53,532
  • Oct 21, 2019 9:17pm Oct 21, 2019 9:17pm
GOLD will buy @1480, is almost there @1483.7 now
  • #53,533
  • Oct 21, 2019 9:53pm Oct 21, 2019 9:53pm
This is my ideal for today.
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  • #53,534
  • Oct 21, 2019 10:15pm Oct 21, 2019 10:15pm
Quoting farukh
1496-1498 key resistance for this week. Price will fall if not broken strongly..
It respected yesterday, let's see for rest of the week..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,535
  • Oct 21, 2019 10:56pm Oct 21, 2019 10:56pm
22/10/19


Morning Traders
Sluggish start to the week, with momentum happening towards the end of/close of the London session. Price reached its targets on both bullish and bearish patterns yesterday, with the first being an inverse Head and SHoulder setup on the m15 and then another HnS pattern that played out on the H1.....Our Zones were flat throughout the day and the bigger HnS pattern off the H1 chart happened to gain momentum from our key 200 EMA levels....

Outlook for today remains to sell any rallies towards the H1, H4 and D1 zones, there is some confluence of factors around selling as all three key timeframes are moving in the same direction and price is currently below weekly open, and also below the m15,H1 and H4 200 EMA levels.


H1 Bearish and Sell Zone: 1485.31 - 1487.41
H4 Bearish and Sell Zone: 1488.36 - 1489.43
D1 Bearish and Sell Zone: 1491.39 - 1494.45


Intra day Levels of Interest

Upside
1505.99
1501.77
1495.44
1492.25
1490
1488.39

Downside
1481.93
1478.74
1473.58
1465.46
1463.89

Uploaded CHarts with the Zones and some key levels on the charts...

The Daily chart illustrating some consolidation that needs to see a clear break and close of the 1470 handle to nullify and serious bullish rally on the medium term.
failure to get a break and close below that shows that a possible right shoulder may be forming on another inverted HnS pattern, will look to follow price on the lower time frames in the meanwhile...


Green Pips
Attached Images (click to enlarge)
https://www.metalsmine.com/attachmen...1&d=1571716311 https://www.metalsmine.com/attachmen...1&d=1571716319 https://www.metalsmine.com/attachmen...1&d=1571716326
4&1 All Time Profit: $37,496
  • #53,536
  • Oct 21, 2019 11:00pm Oct 21, 2019 11:00pm
Quoting EventsTrader
Heads up that the Fed's black out period for the upcoming FOMC meeting is Oct. 19-31. It started on Saturday. We won't hear anything further from Fed officials but the CME FedWatch Tool is showing the market is increasingly betting on a rate cut at the upcoming meeting: A week ago the probability of a rate cut was closer to 75%. Now it's at 93%. {image} This is gold positive but there's a lot weighing on gold right now, mostly Brexit. Volume has been lighter than average...
Thanks for the heads up and fundie outlook, as always always informative bud, to be quite honest, i dont mind trading during these black out phases as alot of the noise gets taken out and some structure from a pattern and tech point of view plays out smoother......I think for now, structure wise, 1470 becomes the next key area for further momentum looking at the daily chart


Green Pips this week to you,
4&1 All Time Profit: $37,496
  • #53,537
  • Oct 22, 2019 2:39am Oct 22, 2019 2:39am
i put my sell limits at 1490
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  • #53,538
  • Oct 22, 2019 2:40am Oct 22, 2019 2:40am
just shorted myself at ema100 on the 15M
MTF PA with indicators = a winning team
  • #53,539
  • Oct 22, 2019 2:43am Oct 22, 2019 2:43am
Quoting Tekin
i put my sell limits at 1490 {image}
Stop loss?
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,540
  • Oct 22, 2019 2:51am Oct 22, 2019 2:51am
Quoting notyetthere
just shorted myself at ema100 on the 15M
agree already open 2 part an if it climb that level i wrote i will add 1495 is my stop
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