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

Traders, this is a zone of several important Fibonacci levels. A high probability confluence pattern is completing in this zone around 2080. This is where Alt Bat Pattern also finishes. All past structures and legs have a fibonacci extension lined up in this zone making this zone of high importance. This can create a huge reversal (correction) point for the gold which is already over extended on all time higher time frames. Arrows indicate potential correction levels. I have explained this on my YT channel too.

https://www.tradingview.com/chart/XA...e-Zone-Update/

ok guys 2066 yesterday achived

sell limit for today

sell 2109 strong R
sell 2080 weak R

Silver moved higher to our level and went beyond. Now it is overextended and may fall down. Here are the reasons for it to take a break

#SILVER / Weekly, Daily & H4

Here's my take on the XAUUSD market, from a technical perspective of a swing trader. Having taken out the multi-year horizontal resistance around 1916.35 in July, XAUUSD market remains disposed positively. Market structure on the H4 time frame still favours bulls and price action is within an expanding wedge/triangle (blue). The last 4-Hr print on Friday was bullish. Given the fact that price action is presently located near the lower boundary of the 2013.00/2074.85 zone (Sandybrown) as well as near the wedge support trendline, technically a bullish setup is more likely to be feasible than a bearish setup.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

#GOLD / Weekly, Daily & H4 Attachment g

As there have nothing interesting on daily/intraday charts by far, we take a look at all time gold chart. Here I see some warning signs and need your assistance.

Silver outperforming gold so far this week. Silver in pink.

Another view:

chart gold

A significant southward breach of the 1936.00 area by XAUUSD price action on a daily closing basis portends a bearish drive to the 1905.00 handle.

I may be wrong. Trade safe and prosper.

KP

Gold as expected

Silver as expected

Can't remember a day where gold had a drop this big. It's gotta be a short-term correction. Fundamentals still support gold longer term.

Traders, gold fell from our high probability FCP zone as per analysis. It printed the biggest one day fall of this year and probably nearly whole decade. So what is is happening with gold and why? What are the next steps? What can we expect as next move on gold trading? Lets find out in this Gold Analysis & Forecast Update.

Gold fell from our high probability FCP zone as per analysis. Please see previous analysis to understand the whole flow of analysis. (Links are above ) It printed the biggest one day fall of this year and probably nearly whole decade. It created a bearish engulfing candle on weekly time frame and a Harami set up on daily time frame. It is also in the process of forming an M pattern which can push the price down. But there are few points we must consider before we take any long or short positions next week.