XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2727 | Metals Mine

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

  • #54,521
  • Jun 1, 2020 3:06pm Jun 1, 2020 3:06pm
Gold and silver trades very close in correlation today. As has been the case recently, silver outperformed gold again. Silver in pink:
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #54,522
  • Jun 2, 2020 12:22am Jun 2, 2020 12:22am
Quoting Fx4Lving
{quote} I change the target based on new calculation of Abonacci Levels. As you can see on the picture , Gold will travel to the north to reach 1818. The most important level is 1668 which if broken will lead the price to 1595. From different views resulted from Abonacci Calculator I am 90% sure that price will hit 1792 and then 1818. {image}
Great Analysis. Can you share yours today's trading plan? Thanks
  • #54,523
  • Jun 2, 2020 7:16am Jun 2, 2020 7:16am
Today's technical analysis.

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  • #54,524
  • Jun 2, 2020 11:22am Jun 2, 2020 11:22am
#GOLD / H1 / Bullish Count
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  • #54,525
  • Jun 2, 2020 12:00pm Jun 2, 2020 12:00pm
The Japanese yen sold off and gold followed. Bond yields are higher and so is crude oil. Equities aren't really participating in the risk-on environment but they've decoupled in recent weeks.

The yen could've been a leading indicator for the move in gold. Hindsight is always 20/20. Here's a layover showing gold following the yen lower (yen in pink):
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #54,526
  • Jun 2, 2020 3:56pm Jun 2, 2020 3:56pm
Quoting EventsTrader
The Japanese yen sold off and gold followed. Bond yields are higher and so is crude oil. Equities aren't really participating in the risk-on environment but they've decoupled in recent weeks. The yen could've been a leading indicator for the move in gold. Hindsight is always 20/20. Here's a layover showing gold following the yen lower (yen in pink):{image}

Having said that, Yen has just started the “dump” and so Gold will be following, we are near the highs of Gold now..
  • #54,527
  • Jun 2, 2020 5:08pm Jun 2, 2020 5:08pm
Quoting Fares121
{quote} Having said that, Yen has just started the “dump” and so Gold will be following, we are near the highs of Gold now..
I have to admit I immediately checked the charts thinking I missed out on a gold rally. Fares, what are you seeing near highs?
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #54,528
  • Jun 2, 2020 5:12pm Jun 2, 2020 5:12pm
Quoting EventsTrader
{quote} I have to admit I immediately checked the charts thinking I missed out on a gold rally. Fares, what are you seeing near highs?
Sorry I am talking about Daily/weekly chart for Gold, direction within the next few weeks is down.. I know the drop today would attract buyers... silver is in a good spot for a drop as well which Gold follow..
  • #54,529
  • Jun 3, 2020 4:09pm Jun 3, 2020 4:09pm
Quoting Fares121
{quote} Sorry I am talking about Daily/weekly chart for Gold, direction within the next few weeks is down.. I know the drop today would attract buyers... silver is in a good spot for a drop as well which Gold follow..
That’s started earlier than expected
  • #54,530
  • Jun 3, 2020 7:20pm Jun 3, 2020 7:20pm
GOLD/USD price action on the H4 time frame has rejected last week's low and is likely to retrace towards the neckline of the M formation on the H4 tf.

KP

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Do your homework, follow the footprints of smart money
  • #54,531
  • Jun 4, 2020 12:35am Jun 4, 2020 12:35am
Quoting KeenPips
GOLD/USD price action on the H4 time frame has rejected last week's low and is likely to retrace towards the neckline of the M formation on the H4 tf. KP {image}


I sure hope it plays out like you're forecasting. This past sell-off has made me slightly nervous since it's come with a general risk-on move in markets.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #54,532
  • Jun 4, 2020 1:57am Jun 4, 2020 1:57am
GOLD/USD's behaviour can be very sickening and frustrating at times.

Trade safe.

KP

Quoting EF5
{quote} I sure hope it plays out like you're forecasting. This past sell-off has made me slightly nervous since it's come with a general risk-on move in markets.
Do your homework, follow the footprints of smart money
  • #54,533
  • Jun 4, 2020 3:37am Jun 4, 2020 3:37am
#GOLD / H4 & H1
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  • #54,534
  • Jun 4, 2020 6:00am Jun 4, 2020 6:00am
I hope you are enjoying the price action working in your favour now.

Trade safe.

KP

Quoting EF5
{quote} I sure hope it plays out like you're forecasting. This past sell-off has made me slightly nervous since it's come with a general risk-on move in markets.
Do your homework, follow the footprints of smart money
  • #54,535
  • Jun 5, 2020 1:05pm Jun 5, 2020 1:05pm
Gold and silver correlation was very high this week. Very close to +1.
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Gold gained minimal ground on silver. I'd expect the gold-silver ratio to continue to come down next week.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #54,536
  • Jun 7, 2020 2:59pm Jun 7, 2020 2:59pm
Here's my take on XAUUSD, from the technical perspective of a swing trader. On the daily time frame, technicals still favour bears. However, we should be wary of the fact that price action is at the lower boundary of a horizontal channel spanning the 1672.30/1752.70 zone (magenta). What the market does in the area is likely to be a price action marker for the rest of the week.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #54,537
  • Jun 7, 2020 4:44pm Jun 7, 2020 4:44pm
Hello everyone? Here's my analysis for today.
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  • #54,538
  • Jun 8, 2020 1:04am Jun 8, 2020 1:04am
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  • #54,539
  • Jun 8, 2020 6:49am Jun 8, 2020 6:49am
Here is another analysis.

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  • #54,540
  • Edited 2:16am Jun 9, 2020 1:52am | Edited 2:16am
waiting see reaction for top ranging gold up before finally break down if now or later , 1570 tl before next leg down towards 1500, anyway 1445 limit down for up there , breaks last limit 1375for any up.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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