We err, and err, and err again, but less.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #54,182
- Jan 24, 2020 2:56am Jan 24, 2020 2:56am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,183
- Jan 26, 2020 2:42pm Jan 26, 2020 2:42pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
If you are tracking XAUUSD this week, consider this technical perspective. XAUUSD market operation is now at the 1610/1616 multi-year horizontal resistance area that was last visited in April 2013. On the H4 time frame, recently bears are becoming more influential in the market. Significant bearish candlesticks had been printed that drove down market operation from the 1593.30 area to the 1538.50 area from January 8 to January 14. Since then, there has been little bullish push. In the last two sessions on Friday, bears made a southward push of price action from the 50 Fib retracement of the most recent downward swing; and presently located at the 38.2 Fib retracement area. We should await what happens in the early part of this week as a mini rising wedge (magenta) has been formed and needs to be breached either way by price action for directional clarity.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #54,187
- Jan 27, 2020 4:14am Jan 27, 2020 4:14am
- Joined Apr 2019 | Status: Trader | 3,132 Posts
#GOLD / H4 / Four Counters 
- #54,188
- Jan 28, 2020 12:55am Jan 28, 2020 12:55am
- Joined Apr 2019 | Status: Trader | 3,132 Posts
#SILVER / H4 / Two Ideas 
- #54,189
- Jan 28, 2020 6:20am Jan 28, 2020 6:20am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,190
- Jan 28, 2020 10:39am Jan 28, 2020 10:39am
- Joined May 2019 | Status: iTrade | 1,838 Posts
Gold and the Japanese yen tend to have a closer correlation during risk trading environment. There's some obvious divergence which from what I can gather is attributed to some US dollar strength. If this is related to dollar strength/risk on then gold is holding up pretty nicely. 
Gold, although down today, is back to outperforming silver. 
Gold, although down today, is back to outperforming silver.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
54.4%
- #54,191
- Jan 29, 2020 2:17am Jan 29, 2020 2:17am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,192
- Jan 29, 2020 3:28am Jan 29, 2020 3:28am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,193
- Jan 29, 2020 3:42am Jan 29, 2020 3:42am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,194
- Jan 29, 2020 9:54am Jan 29, 2020 9:54am
- Joined May 2019 | Status: iTrade | 1,838 Posts
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
54.4%
- #54,195
- Jan 30, 2020 10:48am Jan 30, 2020 10:48am
- Joined Apr 2019 | Status: Trader | 3,132 Posts
#SILVER / H4 
- #54,197
- Feb 2, 2020 2:33pm Feb 2, 2020 2:33pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
Here's my take on XAUUSD. Although the market is still technically disposed northward on the daily time frame, with price action respecting an inner rising trendline (blue), the order flow is seeing an increase in bearish influence. Any bearish turnaround may see a retest of the horizontal support around 1555.30 while a bullish continuation may target the 1612.10 area.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #54,200
- Feb 4, 2020 10:15am Feb 4, 2020 10:15am
- Joined Apr 2019 | Status: Trader | 3,132 Posts
#GOLD / H4 / Two Ideas 
