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

  • #53,561
  • Oct 23, 2019 2:00am Oct 23, 2019 2:00am
Quoting Tekin
{quote} yes but for me level is level. but lot size is very less 0.01 lot because of before london opening lets see whats gonna happen but according to my thinking it should not touch to 1495 even 1493

ok waiting time stop is 1500
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  • #53,562
  • Oct 23, 2019 2:19am Oct 23, 2019 2:19am
Quoting MzansiObi
23/10/19 Morning Traders Daily close Higher yesterday following a retest of our first downside target having sold off of the H1 sell zone yesterday. Our 200 Moving Averages also helped us cap prices from going higher, which fitted well with or plan to short throughout the day before flipping long when price started forming the Inverted HnS pattern on the M15 that we discussed and bought Dips off of. The H1 has flipped bullish and is currently testing the upper bands of the H4 sell zone, due to this bullish intent on the H1, Outlook for the day remains...
First decent Bounce off of the H1 Buy Zone pushing us towards the D1 Sell ZOne, will wait for the current candle to close to see what sentiment looks like and look for Sell trades now,
Stops at entry for H1 Buys.


Green Pips to you all today....
4&1 All Time Profit: $37,496
  • #53,563
  • Oct 23, 2019 3:18am Oct 23, 2019 3:18am
Quoting Tekin
{quote} yes but for me level is level. but lot size is very less 0.01 lot because of before london opening lets see whats gonna happen but according to my thinking it should not touch to 1495 even 1493

bad
  • #53,564
  • Oct 23, 2019 3:45am Oct 23, 2019 3:45am
Quoting Tekin
{quote} bad

second bad i hope 1496 would hold it
  • #53,565
  • Oct 23, 2019 3:55am Oct 23, 2019 3:55am
Quoting farukh
{quote} It needs to close below 1488 on current h4 otherwise it may go towards 1495-1498
Now looking what PA does near 1498..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,566
  • Oct 23, 2019 4:56am Oct 23, 2019 4:56am
what was that gap down?
  • #53,567
  • Oct 23, 2019 5:04am Oct 23, 2019 5:04am
short 1493.18
MTF PA with indicators = a winning team
  • #53,568
  • Oct 23, 2019 5:14am Oct 23, 2019 5:14am
Quoting Trouttman
what was that gap down?
which gap?
  • #53,569
  • Oct 23, 2019 6:18am Oct 23, 2019 6:18am
Quoting MzansiObi
{quote} First decent Bounce off of the H1 Buy Zone pushing us towards the D1 Sell ZOne, will wait for the current candle to close to see what sentiment looks like and look for Sell trades now, Stops at entry for H1 Buys. Green Pips to you all today....
Second Buy Dip from the H1 Buy Zone
Attached Image (click to enlarge)
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4&1 All Time Profit: $37,496
  • #53,570
  • Oct 23, 2019 7:30am Oct 23, 2019 7:30am
Quoting notyetthere
short 1493.18
reversed to long at be
MTF PA with indicators = a winning team
  • #53,571
  • Oct 23, 2019 8:10am Oct 23, 2019 8:10am
there is 1.5 hours to rare data of today. and price reached to 1494 i added sell because its under %61.8 (1496.55)
  • #53,572
  • Oct 23, 2019 8:42am Oct 23, 2019 8:42am
Quoting Tekin
there is 1.5 hours to rare data of today. and price reached to 1494 i added sell because its under %61.8 (1496.55)
I am also holding a short from 1488. It's looking dangerous right now.

Keeping my fingers crossed..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #53,573
  • Oct 23, 2019 8:43am Oct 23, 2019 8:43am
Quoting farukh
{quote} I am also holding a short from 1488. It's looking dangerous right now. Keeping my fingers crossed..
there is still some resistance at 1497.40 but I wouldn't bet the farm on it lookng at my indicators. Good luck though.
MTF PA with indicators = a winning team
  • #53,574
  • Oct 23, 2019 9:26am Oct 23, 2019 9:26am
Quoting notyetthere
{quote} there is still some resistance at 1497.40 but I wouldn't bet the farm on it lookng at my indicators. Good luck though.
Seeing the same thing. Been entering sell orders each time we reach 1495 level. Resistance hasn't broken yet and have been able to pocket some wins as it retreats from the highs.

I will switch to buys if we get down around 1490.
If in doubt, paddle out!
  • #53,575
  • Oct 23, 2019 9:51am Oct 23, 2019 9:51am
Re the 1495 level in XAUUSD - that has been there since the 1 October low.

Flip ya Fib retracement levels upside down. 38.2%.

The 3 October high was 61.8%.

The 23.6% has been providing support recently.
  • #53,576
  • Oct 23, 2019 10:43am Oct 23, 2019 10:43am
reversed to short at 1492.85
MTF PA with indicators = a winning team
  • #53,577
  • Oct 23, 2019 11:38am Oct 23, 2019 11:38am
Gold Failed to breach the weekly neckline at 1550 zone, the strong major resistance
The second rally began in May and peaked at the neckline 1550 zone in August until September 2019. It tested the weekly neckline 4 times but failed to breach and close above that zone. It needed a healthy retracement.
Technical Analysis 09/05/2019. https://ibb.co/YB2YGfS

It failed to breach the upper H4 trendline
Bear keeps showing a strength, a perfect bearish momentum and price action gave a perfect setup to keep shorting XAU, as one can see in the chart below. Based on Technical analysis, pay close attention to the next major support at 1450 to 1461 zone, which is could be the best rates to take profit of your long term short position. If it could breakout and close below that zone, I reckon XAU/USD will fall deeper and visit 1395 to 1400 zone, but If it fails to breach 1450 to 1461 zone, that zone could be the best potential rates to continue the rally to open a fresh long position targetting the March 25, 2013 anchor candle at 1610 zone maybe beyond.
Technical Analysis 10/09/2019. https://ibb.co/GJtmDCz

Next week would be interesting because of incoming US important economic data and Trump presidency drama
There are tons of incoming US data. Currently, all eyes focus on FOMC and NFP, It will give a strong catalyst and showing the next direction of XAU/USD. President Trump Says China has indicated that negotiations over an initial trade deal are advancing, raising expectations the nations’ leaders could sign an agreement at a meeting next month in Chile. Trump-Ukraine scandal, Impeachment investigation, Turkey, Syria and the Middle East issues are also an important catalyst.
Chart update (Open the link on your computer to play the chart).
https://www.tradingview.com/chart/XA...tential-trade/
"Show me the charts, and I'll tell you the news." Bernard Baruch
  • #53,578
  • Oct 23, 2019 12:53pm Oct 23, 2019 12:53pm
so i am short as well entry: 1491.40..... probably looking for 1488 ++++...... probably today or in asian session....
Extreme gut feeling trader
  • #53,579
  • Oct 23, 2019 12:55pm Oct 23, 2019 12:55pm
can someone being generous share a hedging technique.......
Extreme gut feeling trader
  • #53,580
  • Oct 23, 2019 1:26pm Oct 23, 2019 1:26pm
#Gold is acting a bit like #oil, because gold price achieved the line of resistance of the balancing wedge. But here the similarity ends, because gold bulls were incapable (yet?) to overcome the resistance line of wedge, while oil bulls succeed (already).

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Let's look at the situation on the clusters with more clear focus on detail (data from Moscow exchange).
1) FOMO Buying Culmination (abnormal explosion of BUY volume - seen on delta). Note, the penetration of 1500 round number.
2) Intraday Balancing wedge after FOMO BC. Note, the supply volume increase
3) Here is the SB and breakdown below Intraday Balancing wedge amid Selling Pressure volume.
4) test of breakdown
5) No Demand here (lack of traders agree to buy so expensive) and ...
6) ...Here is EVRB! An explosion of sells amid the narrow tight range.

So, support comes quickly. Taking into consideration the described arguments, we have to expect another attempt of bulls to attack resistance. If we will see SLKT / ND+SB weak action around 1500, then decline toward the bottom line of the wedge is likely.
Oleg Alexandrov, market analyst. Find me in Google
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