XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2762 | Metals Mine

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

  • #55,221
  • Jan 10, 2021 2:21pm Jan 10, 2021 2:21pm
If you are tracking XAUUSD this week, consider this technical perspective from a swing trader. The XAUUSD market is operationally sideways. On the daily time frame, price action is sideways but the technical prints in the last three days have been significantly bearish. Presently, price action is near the 1831.10 lower boundary of the horizontal channel (magenta) where the market has been operating for weeks. It will require a significant breakdown of the area for further bearish drive. Technically, we may see some bearish move in the early part of this week, at least to retest the 1831.10 lower boundary of the horizontal channel. This may be followed by some sideways of price action before any directional momentum. The 1796.50 area (sandybrown) is the next horizontal support.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #55,222
  • Jan 10, 2021 11:25pm Jan 10, 2021 11:25pm
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  • #55,223
  • Jan 11, 2021 11:51pm Jan 11, 2021 11:51pm
Looks like a good place to sell...

Sold@1,857
SL@1,867
TP@1,824
  • #55,224
  • Edited 7:32am Jan 13, 2021 7:17am | Edited 7:32am
Strong Buy for 3 days ( untuil market closed).
Yellow line is TP
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  • #55,225
  • Jan 13, 2021 10:31am Jan 13, 2021 10:31am
#SILVER / Weekly, Daily & H4
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  • #55,226
  • Jan 17, 2021 9:45am Jan 17, 2021 9:45am
Looking down next week, market wants to get buys at better levels before stimulus.
  • #55,227
  • Jan 17, 2021 3:03pm Jan 17, 2021 3:03pm
Here's my take on the XAUUSD, from the technical perspective of a swing trader. XAUUSD price action on the daily time frame has rejected the horizontal support around 1857.84 (magenta) for a bearish disposition. It is presently at a minor rising trendline (blue) which we should watch before committing to a directional bias. This location is in confluence with the 1825.20 minor horizontal support (purple). A bearish rejection of the trendline would see bears drive price action further southwards, potentially targeting the demand zone around 1809.70/1789.90 (sandybrown). The 1773.70 area (green) is a significant horizontal support on the monthly timeframe.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #55,228
  • Jan 18, 2021 1:39pm Jan 18, 2021 1:39pm
Not much going on today as the US is on a holiday. Markets are open but liquidity is low.

There's a lot of uncertainty surrounding the inauguration but I don't see that as any catalyst for gold buying. However, Yellen is set to be confirmed tomorrow. She's going to lay out her policy framework. It could move markets.

I agree that this correction could go as low as ~$1770. I still see gold as a strong longer term hold. Here's that level that KeenPips mentioned, but on the daily chart:
Quoting KeenPips
The 1773.70 area (green) is a significant horizontal support on the monthly timeframe.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #55,229
  • Jan 19, 2021 7:35am Jan 19, 2021 7:35am
FPA technical analysis: "Market is just waking up after LMK holiday and gold is still searching the short-term direction. Still, as our trading plan is valid, we're keep going with it"

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  • #55,230
  • Jan 20, 2021 9:59am Jan 20, 2021 9:59am
Quoting tush1822
{quote} update. Theme: Decisive next week , how dollar performs. Fundamental: Those who are shocked by the gold fall despite the bad NFP data (as generally touted). The most important component in NFP which affects the inflation is - average hourly earnings which is much better than prediction. This gave push to the Dollar. Technical: at various levels the support system looks fragile. 1840 is still a relevant {image}
A quick update for the group.

Be aware of the BULL TRAP buying at or above 1865!!

Trade carefully for rest of the week!!
  • #55,231
  • Jan 20, 2021 3:44pm Jan 20, 2021 3:44pm
Quoting tush1822
{quote} A quick update for the group. Be aware of the BULL TRAP buying at or above 1865!! Trade carefully for rest of the week!!
Always be wary of bulltraps! Even yours truly.
careful not to step in a pile of it
  • #55,232
  • Jan 24, 2021 2:45pm Jan 24, 2021 2:45pm
If you are tracking XAUUSD this week, consider this technical perspective. The XAUUSD market is sideways. On the daily time frame, the order flow context shows a bearish impulse. Besides, candlestick prints of Wednesday through Friday last week formed an evening star at a minor horizontal resistance around 1872.77 (blue), which, technically, portends a bearish rejection of the area. We may expect a southward continuation in the early part of this week. The 1824.00/1805.50 area (sandybrown) is a horizontal support, and, likely, an initial target of bears.

I may be wrong. Trade safe and prosper.

KP

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  • #55,233
  • Jan 25, 2021 11:16am Jan 25, 2021 11:16am
Even though longer term funamenatals support higher gold prices, we still could see more of a correction. Gold futures held support in the most recent test of $1800 and I wouldn't rule out a test of $1770 either.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #55,234
  • Jan 29, 2021 3:44am Jan 29, 2021 3:44am
seems no one is interested anymore in gold?

5min institutional candle seems holding... buy before sell
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  • #55,235
  • Edited 4:15am Jan 29, 2021 3:50am | Edited 4:15am
if 1h candle closes bear then, theres a possibility of breaking the 1833 support.

maybe....not really..... it seems NY will decide which way to go
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  • #55,236
  • Jan 29, 2021 6:40am Jan 29, 2021 6:40am
#SILVER / H4
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  • #55,237
  • Jan 29, 2021 7:35am Jan 29, 2021 7:35am
Gold should pull back to around 1857.
Take a long entry from 1857
It's a big game.
  • #55,238
  • Jan 29, 2021 11:04am Jan 29, 2021 11:04am
There's no doubt silver is getting short squeezed. Look at the gains since yesterday. Look at the volume!
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I post a lot about gold/silver correlation and recently when silver outperforms gold that's indicative of a bull market for precious metals. All that gets thrown out the window as it decouples from fundamentals. Here's how silver has been outperforming gold since yesterday. Amazing.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #55,239
  • Jan 31, 2021 11:49am Jan 31, 2021 11:49am
Hi peeps, long-time no-post. Have a very simple point of reference for everyone technically. It seems we are reaching the end of a triangle formation in the Gold price. Thus, upside and downside seem equally as likely. https://www.tradingview.com/x/lYgzf7tu/
From here it looks like we need some COT analysis. I don't expect Biden to pass stimulus until Yellen is approved, which should be around week after next - feel free to correct me.

Happy Trading.
  • #55,240
  • Jan 31, 2021 12:01pm Jan 31, 2021 12:01pm
On SILVER 1H, potential ABCD.

SMART MONEY COT: LONG +1% SHORT -0.7%, potential UPSIDE
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