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

Oh it's a sell
Teerex
Closed my sell
Teerex
This might drop to about .32400. If it does euro should mirror the same movement and gold probably lol
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Teerex
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Teerex
Going good
Teerex
here's a channel from the weekly. certainly the bottom is still active imo. top of the channel needs a confirmation again, for me.

have be careful creating channels with only one touch or even two touches. not everything is in a channel.
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In tea leaves we trust!
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Teerex
Minor break.. Minor trade... Gbpusd also has a minor break on 5min...silver hasn't broken... Fingers crossed
Teerex
Quoting tush1822
Hi, Theme : Fate of the Dollar is now really depend of how market reacts to upcoming stimulus. Recent Reaction ollar reaction was mixed on FOMC economics projections. Initially it was bullish and later turned bearish. It shown clear effect on the Gold. It produced false break below 1840. Technical : 1891 to 1865 is the reaction zone. Depends on the dollar reaction to US stimulus. Plan: Consistent close above or bellow 1891 or 1865 is the key. {image}
update,

looks like Dollar is gaining strength, The important support of 1865 looks at danger. It has opened the gates for 1840 or even 1810
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This may be the ride up to 1905...and then maybe 2000
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Teerex
When the support (green trend line) is broken, sell.
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So price went down... and back up again... Loss either way lol
Gbpusd is way up now though so expecting a rise.

Is times like this that make you wanna invest for long-term and forget the noise
Teerex
Finally... Correlation pays
Teerex
Quoting mstern891
When the support (green trend line) is broken, sell. {image}
This is in line with my technical analysis I think this can go down. Tbh my only reason for thinking this can go topside is economic news and forecasts I'm hearing. There is still uncertainty with currencies as at now cuz of new corona fears... but there is also a vaccine out.
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Teerex
Quoting tush1822
{quote} update, looks like Dollar is gaining strength, The important support of 1865 looks at danger. It has opened the gates for 1840 or even 1810 {image}
update 2,

still no fate in dollar recovery. the reaction zone is still intact 1865-1891. Still no clear direction. I think it will be clear only in the first week of Jan 2021.

Not sure what fundamental thing will trigger the dollar upside or continuation of the slide.

Technically the dollar is evolving the reversal pattern to turn bullish in near term.
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Was thinking of buying xrp then it dropped lol
Teerex
Here's my take on XAUUSD, from the technical perspective of a swing trader. The 1770.40/1891.40 zone (purple) is the prevailing market operation zone on the monthly time frame. Price action on the daily time frame is disposed positively and grinding slowly along a rising channel (blue). On the H4 time frame, a relatively big bearish print on December 21 is acting as a control candlestick for the subsequent prints. Presently, after a bullish rejection of the support trendline of the rising channel (blue) seen on the daily time frame, price action is consolidating around the mid-area of the ‘control candlestick’ and with a bullish tinge. Technically, we may see a bullish push to retest the high of the ‘control candlestick’ around 1902.20 (magenta), which is an extension of the 1891.40 horizontal resistance area, before any southward turnaround.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
From FPA: “While gold stands below 1890 area it keeps bearish context and this level is important for trading in near-term".

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gold - i'd be short over being long
silver - i'd be long over short
copper - long over short.

so we'll see what happens. if the dollar continues to weaken then i'd rather be long silver over gold. or even copper over gold.

as ever, we'll see.
In tea leaves we trust!
Quoting Mcbeaners
gold - i'd be short over being long silver - i'd be long over short copper - long over short. so we'll see what happens. if the dollar continues to weaken then i'd rather be long silver over gold. or even copper over gold. as ever, we'll see.
this pop is being bought so expect more up during this asian session imo.
In tea leaves we trust!
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