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

  • #54,641
  • Jul 29, 2020 4:21pm Jul 29, 2020 4:21pm
Quoting MoneyZilla
{quote} Welcome to YOUR tread. You have been away, almost 5 years...
HOWDY!!! Thanks! Yes it has been quite some time.

I was working for a company which watched web use and site times making posting very hard. I couldn’t trade London due to sleep so I took a hiatus.

I did also just need some time away from posting. I figured there was enough info about support and resistance and AU/AG fundies on here that people should be able to pick up trading that range we were locked in for several years. I hope at least.

I am kicking myself now a bit for making some unnecessary purchases, that should have gone to physical bullion but eh!

I’ve recently become interested in Paper money collecting as well. It is a fascinating world full of stories and beautiful artwork on some of these lesser known currencies! Just fabulous stuff. My crown jewel is a graded 100 trillion dollar note from Zimbabwe. They are out of print now.

Hope you all have been well and continuing to learn!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #54,642
  • Jul 31, 2020 4:56am Jul 31, 2020 4:56am
Another attack at 1981 may take the price at 2050
IMHO
  • #54,643
  • Jul 31, 2020 11:47am Jul 31, 2020 11:47am
Wow - Quite a profit taking bounce On majors London just made!

Offered up a dip almost to 1960 that has already been SNATCHED RIGHT UP!

Price pushing above 1970 now looking like another run on 1980 may occur before days end.

We’ll likely have to wait until next week for a real rush on 2k.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #54,644
  • Aug 2, 2020 4:52am Aug 2, 2020 4:52am
Gold has hit all time high. This is still bullish but we now have weakness and over extension coming in. We can expect a retracement but so far there are no actual confirmations for the same. We do have 2 bearish fibonacci confluence patterns completing right now but lets see what market hold for us in this multi timeframe analysis of gold.

Inserted Video


Silver like gold had an amazing month. It reached a level on monthly time frame. This also shows the importance of multi time frame analysis in trading. So what is next for the silver. Is it going to follow its bullish momentum of will it follow gold. It is decision time. Let see what we have in this multitime frame analysis.

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Technical Analyst & Trader @ Vikinsa
  • #54,645
  • Aug 2, 2020 6:37am Aug 2, 2020 6:37am
Silver like gold had an amazing month. It reached a level on monthly time frame. This also shows the importance of multi time frame analysis in trading. So what is next for the silver. Is it going to follow its bullish momentum of will it follow gold. It is decision time. Let see what we have in this multitime frame analysis.

Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #54,646
  • Aug 2, 2020 3:15pm Aug 2, 2020 3:15pm
The XAUUSD bullish momentum is diminishing. On the H4 time frame, price action momentum is becoming flat. The candlestick prints in the last three days of last week are approximately balance in type, size, and number, but there is a slight increase in bearish pressure. Technically, we may have further sideways of price action, or even a further deep in bullish momentum, in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #54,647
  • Aug 3, 2020 2:08am Aug 3, 2020 2:08am
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  • #54,648
  • Aug 3, 2020 10:26am Aug 3, 2020 10:26am
Fundamentally, there is no reason for a reversal currently.

in the US - Covid is now worse than it was the first time around. Unemployment is at record highs. There is a lack of jobs. Unemployment payments were just drastically cut, All this equals less spending and next a shrinking economic recovery. A viscous cycle indeed.

less spending = less need for employees = higher unemployment / less available jobs, all back and caused by less spending due to no cash earnings.

With unprecedented uncertainty in the world Gold will only increase.

Sure corrections happen and are healthy, but people have to be careful between thinking a correction is a reversal.

I’ve said it many times, when Gold gets up to this value (near 2k) huge daily swings can occur and are normal, to the tune of appx. a $75 daily move.

This is great for experienced gold traders, yet can wipe accounts clear out of those trying to outsmart the market!

We have another record high and an immediate support at 1960!
Quoting vikinsa
Gold has hit all time high. This is still bullish but we now have weakness and over extension coming in. We can expect a retracement but so far there are no actual confirmations for the same. We do have 2 bearish fibonacci confluence patterns completing right now but lets see what market hold for us in this multi timeframe analysis of gold. https://youtu.be/xi3uGHOiHWI Silver like gold had an amazing month. It reached a level on monthly time frame. This also shows the importance of multi time frame analysis in trading. So what is next...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #54,649
  • Aug 3, 2020 10:33am Aug 3, 2020 10:33am
Part of what happens here is that people don’t want too high of an entry - in turn losing steam when the H4 bounces off a small correction to something like 1960 then back up to 1975.

Yet, at the same rate many wait on the sidelines and any larger correction is immediately bought up.

So it may take some profit taking and selling to push the price down far enough where it then gains enough steam to plow through the Huge Psychological Resistance of 2000.

We continue to make record highs but are in uncharted territory now.

Be wary of swings.

Quoting KeenPips
The XAUUSD bullish momentum is diminishing. On the H4 time frame, price action momentum is becoming flat. The candlestick prints in the last three days of last week are approximately balance in type, size, and number, but there is a slight increase in bearish pressure. Technically, we may have further sideways of price action, or even a further deep in bullish momentum, in the early part of this week. I may be wrong. Trade safe and prosper. KP {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #54,650
  • Aug 3, 2020 10:52am Aug 3, 2020 10:52am
Thank you for your analysis. I am not in this market. I don't normally trade on Monday. I will look at what happens after today's close.

Stay safe, trade safe.

KP

Quoting XTrade
... it may take some profit taking and selling to push the price down far enough where it then gains enough steam to plow through the Huge Psychological Resistance of 2000. We continue to make record highs but are in uncharted territory now. Be wary of swings...
Do your homework, follow the footprints of smart money
  • #54,651
  • Aug 4, 2020 12:05pm Aug 4, 2020 12:05pm
Gold and Silver ripping.
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Check out the Gold-Silver ratio since March. Seems like there was a lot more attention to it before it started to come down. That's a huge move for silver vs gold.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #54,652
  • Aug 4, 2020 12:44pm Aug 4, 2020 12:44pm
Hey DUDES!

And there it is! WOW MAN HISTORICAL DAY! HISTORICAL DAY INDEED!

Ive been waiting since since sideways range confirmed in 2013/2014 after the last record high just to see say and yes trade this!

Chart moved sideways too long with now new buying oops and no downside pressure. So KABOOM!

As aforementioned in many prior posts the Big Round Numbers 1800 - 1900 - 2000 -> Rarely act as any true resistance other than a psychological one, here we can see the delay and newly established minor S/R level of 1990 - but when price action started cooking 2000 was a slide through.

Often 5s work well around the landmarks ie: should find some potential resistance at 2005/10 or 2015.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #54,653
  • Aug 4, 2020 3:36pm Aug 4, 2020 3:36pm
Quoting XTrade
Hey DUDES! And there it is! WOW MAN HISTORICAL DAY! HISTORICAL DAY INDEED! Ive been waiting since since sideways range confirmed in 2013/2014 after the last record high just to see say and yes trade this! Chart moved sideways too long with now new buying oops and no downside pressure. So KABOOM! As aforementioned in many prior posts the Big Round Numbers 1800 - 1900 - 2000 -> Rarely act as any true resistance other than a psychological one, here we can see the delay and newly established minor S/R level of 1990...
I like holding the physical stuff but one of my stock produced a nice gain today
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  • #54,654
  • Aug 5, 2020 2:53am Aug 5, 2020 2:53am
3 ascending gold targets 2158 and 2270
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  • #54,655
  • Aug 5, 2020 9:35am Aug 5, 2020 9:35am
Quoting Vincent1
Another attack at 1981 may take the price at 2050 IMHO
  • #54,656
  • Aug 5, 2020 12:30pm Aug 5, 2020 12:30pm
Sold at 2037. We've divergence.
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  • #54,657
  • Aug 5, 2020 1:22pm Aug 5, 2020 1:22pm
Quoting Vincent1
{quote}
Sure did. I knew once we only had a minor pause at 2005 the price was going to cook, some orders above it likely got triggered pushing it higher.

Half way to 2100! Wasn’t necessarily expecting 2030 as a minor S/R but hey, we are officially in uncharted territory.

Right now I’m literally waiting to see how 2030 shapes up.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #54,658
  • Aug 5, 2020 1:39pm Aug 5, 2020 1:39pm
I’m a little annoyed that I didn’t buy more in the past weeks. After the last major dip especially in silver there was a shortage with the internet dealers and coin/jewelry shops have been closed from Covid-19, creating an ugly all too high premium. Trading definitely helps fill the gap
Quoting Hutch
{quote} I like holding the physical stuff but one of my stock produced a nice gain today {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #54,659
  • Aug 5, 2020 1:52pm Aug 5, 2020 1:52pm
Quoting Fadhl
Sold at 2037. We've divergence. {image}
Hey Mate, I’d be really careful with shorts right now, they’ll be some corrections and little dips, but this is not the trend you want to try and outsmart.

looking for long setups after dips/ corrections/ sideways movement, have been where the nice move occurred.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #54,660
  • Aug 6, 2020 2:22am Aug 6, 2020 2:22am
Quoting XTrade
{quote} Sure did. I knew once we only had a minor pause at 2005 the price was going to cook, some orders above it likely got triggered pushing it higher. Half way to 2100! Wasn’t necessarily expecting 2030 as a minor S/R but hey, we are officially in uncharted territory. Right now I’m literally waiting to see how 2030 shapes up.
hi my analyst
sell limit 2082 target profit 2060 ?
sell limit 2066

just for today
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