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

Quoting LloydOz

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{quote} Yes, it is a credible warning by Apple - people in Australia are also no longer buying anything made in China on account of the virus. Maybe coz we are racist, but that is another issue.

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Quoting olegchartist

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Gold I use the futures market to analyze global GOLD price. We have AB balancing wedge on background 1] After the breakout from the AB wedge (demand bar).... 2] ... price headed toward the overbought zone around 1600 line 3] Pull-back toward the center trend-line. Did bulls have enough power to overcome the psycho level 1600? No... 4] We got the pullback to the bottom line of the up-trend channel. 5] Minor Panic 6] DB after NS. Minor Bullish change after Panic. So, bulls changed the market character. 7] Demand bars. So, it looks like the bulls are...

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Quoting olegchartist

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Gold I use the futures market to analyze global GOLD price. We have AB balancing wedge on background 1] After the breakout from the AB wedge (demand bar).... 2] ... price headed toward the overbought zone around 1600 line 3] Pull-back toward the center trend-line. Did bulls have enough power to overcome the psycho level 1600? No... 4] We got the pullback to the bottom line of the up-trend channel. 5] Minor Panic 6] DB after NS. Minor Bullish change after Panic. So, bulls changed the market character. 7] Demand bars. So, it looks like the bulls are...

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Quoting tush1822

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{quote} an update!!- 18/02/2020 Yesterday's after market Apple's warning over possible missing of sales target amid virus outbreak prove to be a first credible economic impact. Technically- Gold opened up with gap and triggered the breakout from the triangle. Possible target is 1611. {image}

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Quoting farukh

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Does anybody use AB=CD? I think it's forming on daily chart.

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Quoting EventsTrader

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Gold and the yen are unusually going their separate ways. The extent of the recent divergence isn't common between the two. My best guess at this point is the recent weak GDP reading out of Japan is putting pressure on the yen. Gold is the one in geen/red. {image}

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Quoting yg10

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{quote} Yes, some unusual things are happening with gold currencies price correlation. AUD/USD also lost positive correlation with gold during last year or so. The same happened with DXY (dollar index) negative correlation with gold. Below are charts with correlation function between XAUUSD and USDJPY, AUDUSD amd DXY for weekly monthly timeframes (correlation period = 50). {image} {image}

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Quoting tush1822

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{quote} No mate!! since long I wanted to learn, if you can post the quick guide with current gold example. It will be great!!

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Quoting farukh

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{quote} I also don't practice it but wants to learn. I was going through old posts from Nitsan Levi if you ever have come across this posts, he was Master. I have learnt a lot from him. I just saw again his successful calls with AB=CD and I saw similar pattern currently getting on daily chart so wanted to confirm if anyone practices it. Well, I am sharing Nitsan's old posts link below. https://www.forexfactory.com/showthr...55#post8968355

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Quoting EventsTrader

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Check out Gold vs yen. The divergence continues as the yen tanks and gold heads higher. {image}

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Quoting EF5

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{quote} Kevin Muir's arguing the weak yen is due to the Japanese economy imploding so I think the divergence makes sense in this case.

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