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

It has the potential to fall to 1466 until November 1, 2019

https://www.tradingview.com/x/BIfH0rQs/

sold at 1511.30 had to leave so missed that nice short on the 5M at the top 1115 it should have been. no use crying over spilled milk though.

So...is this a breakout? If daily candle closes below the trendline, the shape of the candle shall be an amazing pinbar. Actually I was not expecting any bearish behavious from the market. But GOLD alllways loves making surprises...

Best Regards

Neckline is not broken. 1495-98 is key area for bears to continue else we may test neckline again

gold H4 update. Very unproductive range, the only viable setup is below.

No meaningful catalyst to throw gold out of this range any time soon, so we are locked.
(Brexit shenanigans will drag on forever, US/China trade deal is the same - won't happen until next election)

Good luck, traders!

there is no inverted IHS on any time frames. You stare long enough at the charts, I can guarantee you will start seeing things.
Take a break, go to the gym, take a ride in the park, bang some girls and get back into it with a fresh state of mind.

Looks like the US CHINA trade news has affected the PA. Its been heavily rejected at around 1520. showing a big shadow candles at H4.
I think, till FOMC rate cut drumbeat starts, its worth selling highs with TP 1495.

SSI data on gold: not much value, buy/sell side pretty even, so no signal from SSI right now.

makes sense, yes. PA likely biased towards sell side for now.

analysis will be incomplete without presenting an option for hardcore bears.
Now, don't get me wrong, this is possible. You have to pick your poison
(horizontal or sliding lines).

In my experience, horizontal reign supreme over sliding lines.
But anything is possible, have to keep an open mind.

ps: this is H4 price chart.

possible outcome for gold on weekly price chart (keep in mind, this is highly speculative).

as 1452 not broken it can bull further but as it already correct to near maximum or nar expected target it may start tanking from next week . a wave small wave 4 & extended 4 may be over or very near to have decision soon with breaks down limit 1498.41, so will wait break for it .overall price below 1490 the real chance for bear &will trade in full swing. Take care

I'm surprised we didn't see a gap in gold after the US-China Phase 1 agreements over the weekend. Prices fell slightly after the open:

We are finally in a week where we should be expecting some heavy volatility. The main event is FOMC. There's little doubt that they will lower rates. The focus will be on the rate statement and the press conference.

I'm mixed on my outlook for gold. I would like to remain bullish, but because the US dollar might be a little oversold, the inverse relationship could continue to cap prices increases in gold. I'm in a wait and see mode right now.

I see gold going to 1535 again with TL h4 breakout

1519 fibo 61.8 and then 1535 fibo 78.6.

28/10/19

New Week, New Possibilities.

Bullish close to end of the week, price broke through some key upside levels from Thursday through to Friday before getting capped near our last upside levels, as it stands , price is consolidating but still above key 1500 mark.
H1, H4 are both still in bullish trerritory and prices did get some buyers off of the H1 and H4 before the bullish rally. The Daily hammer on Friday signalling a possible two things, 1: Buyers consolidating and closing out positions ahead of the weekend....2: Serious rejection of price going higher, as such will see how price behaves during the London session and that first hour of trading during the NY open...


There is a hint of bearish momentum on the H1 and H4 with both RSi's begging to point lower, and PA being near what looks like a possible right hand shoulder of the structure.....


H1 Bullish: Buy Zone:1504.08 - 1505.01
H4 Bullish: Buy Zone:1497.60 - 1501.49
D1: Neutral


Intra day Level for Monday
Upside
1531.96
1524.97
1518.35
1514.27
1511.36
1507.66

Downside
1503.81
1501.64
1495.53
1490.35
1480.63


Green Pips

Tough to predict PA when it is in the middle like this, but there is bullish pressure, especially if it stays above 1506... intermediate target 1512-1514

Only the 1500 level can stop it from advancing too far, either way.


Edit: Entry long at 1506.50 SL 1505 TP Open

TP: 1508 +20 pips

I have just completed shorts from 1507 to 1496. Now waiting for clarity from FOMC to place positions.