XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2770 | Metals Mine

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

  • #55,381
  • May 16, 2021 3:07pm May 16, 2021 3:07pm
Here's my take on XAUUSD as a swing trader. The XAUUSD market structure still favours bulls despite recent sideways of market operation. On the daily time frame, price action is in a rising channel (blue) and presently at the channel resistance trendline. Price action has been at play at the upper area of the channel and has been attacking the channel resistance trendline for five of the past six days. Technically, we may see further bullish price action at least in the early part of this week before any bearish rejection.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #55,382
  • May 16, 2021 4:21pm May 16, 2021 4:21pm
FPA analysis indicates a target of $1,855.


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  • #55,383
  • May 17, 2021 11:34am May 17, 2021 11:34am
#SILVER / H4
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  • #55,384
  • May 17, 2021 11:46am May 17, 2021 11:46am
Quoting LouisSuguna
Hi folks, as expected Gold smashed 1800, nearly reaching 1850. Jobs report today hit the dollar badly. As the labour market recovery is decelerating, we can expect inflation to rise slower than expected (in-line with the Fed). This also means that there's little chance of monetary tapering anytime soon, which means the supply of dollars will continue to grow - reducing its price. Gold has been boosted, thus, by two factors: a weaker dollar, and deflation expectations. Inflation looks like less of a case given the latest data. However, I think dollar...
1875 is the next point of interest.
  • #55,385
  • May 21, 2021 7:28am May 21, 2021 7:28am
looks like they can't find sellers around this price. so up she goes. next week should be interseting.
In tea leaves we trust!
  • #55,386
  • May 21, 2021 1:55pm May 21, 2021 1:55pm
Last time I posted my AG stock its value it had gone down by about $5,000 but now it has recovered a bit
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  • #55,387
  • May 21, 2021 2:58pm May 21, 2021 2:58pm
TP hit
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  • #55,388
  • May 23, 2021 12:27pm May 23, 2021 12:27pm
#SILVER / H4
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  • #55,389
  • May 25, 2021 10:48am May 25, 2021 10:48am
Gold futures (CME GC) could test the $1900 handle soon. It hasn't been this high since early January 8th when it dropped nearly $90.
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When it does break through $1900 I expect some hefty momentum possibly after quite a bit of resistance:
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #55,390
  • May 25, 2021 10:51am May 25, 2021 10:51am
Quoting EventsTrader
Gold futures (CME GC) could test the $1900 handle soon. It hasn't been this high since early January 8th when it dropped nearly $90. {image} When it does break through $1900 I expect some hefty momentum possibly after quite a bit of resistance: {image}
Another good sign that this rally has legs is look at the uptick in volume on the daily chart. Longer term fundamentals still heavily support gold prices. I said it on the day of the drop and have been restating it. Uncertainty favors gold. Global uncertainty is still very high.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #55,391
  • May 25, 2021 11:37pm May 25, 2021 11:37pm
Quoting Mcbeaners
looks like they can't find sellers around this price. so up she goes. next week should be interseting.
a couple of potential price targets. larger one is time boxed to the 28th. the lower one (which is the wedge break target) looks easily achievable.
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In tea leaves we trust!
  • #55,392
  • May 28, 2021 10:09am May 28, 2021 10:09am
Gold is having a tough time staying above that $1900 handle.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #55,393
  • Jun 3, 2021 12:39pm Jun 3, 2021 12:39pm
looks like usd longs being built here, in advance of non-farm tomorrow. usdcad, cable, euro all looking building $ longs. i'm short silver and long usdcad. i might be in too early, as usual, so some retracement is probable.

let's see.
In tea leaves we trust!
  • #55,394
  • Jun 3, 2021 1:52pm Jun 3, 2021 1:52pm
Quoting Mcbeaners
looks like usd longs being built here, in advance of non-farm tomorrow. usdcad, cable, euro all looking building $ longs. i'm short silver and long usdcad. i might be in too early, as usual, so some retracement is probable. let's see.
the counter point developing is a strong s&p i'm seeing via ES. ES up and dollar down has been the norm last couple of years. could be tricky trading tomorrow.
In tea leaves we trust!
  • #55,395
  • Jun 3, 2021 3:12pm Jun 3, 2021 3:12pm
Quoting Mcbeaners
{quote} the counter point developing is a strong s&p i'm seeing via ES. ES up and dollar down has been the norm last couple of years. could be tricky trading tomorrow.
i think i'm wrong about the dollar move and es is pointing to the opposite. dollar down. i can be fooled by my system on these types of drops and slow recovery. i'm looking to exit my usdcad long and silver short. this might come in the asian market.
In tea leaves we trust!
  • #55,396
  • Jun 4, 2021 8:06am Jun 4, 2021 8:06am
Quoting Mcbeaners
{quote} i think i'm wrong about the dollar move and es is pointing to the opposite. dollar down. i can be fooled by my system on these types of drops and slow recovery. i'm looking to exit my usdcad long and silver short. this might come in the asian market.
glad i closed my positions at neutral. did'nt position myself for the above prior to the non-farm. gold - long, usdcad- short and cable- long look the most likely to trend.
In tea leaves we trust!
  • #55,397
  • Jun 4, 2021 12:13pm Jun 4, 2021 12:13pm
looks like a silver buying fest. might have to switch from gold to silver.
In tea leaves we trust!
  • #55,398
  • Jun 13, 2021 3:15pm Jun 13, 2021 3:15pm
If you are tracking the XAUUSD this week, consider this technical perspective from a swing trader. On the daily time frame, technicals and order flow context still favour bulls even though there is increased bearish pressure. Price action is in a rising wedge (blue). Presently it is retesting the channel support trendline in the context of a consolidating mode. Nevertheless, any bullish misstep in the early part of this week may incentivize bears for a southward move to an area of value, such as the 1857.00/1844.00 horizontal support area (green).

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #55,399
  • Jun 14, 2021 4:11am Jun 14, 2021 4:11am
#GOLD / H4
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  • #55,400
  • Jun 16, 2021 2:38am Jun 16, 2021 2:38am
Big trend still down, XAUUSD M5, have to wait and see if trend is changing or continue down, we`ll see.


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