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

Gold TF Daily. Need Confirmation

#SILVER / H4

#XAU/USD / Weekly


After last week good bullish candle close, we hit TP2 around 2132. Now Gold is retracing and playing on broken resistance. let see it will find support on 2020 in lower time frames. If broken, next support area is around 2000

Still bullish gold

Trade safe

Gold TF Daily Black Swan Bearish

Gold TF Daily Butterfly bearish by HarmonicGanTengKur Analysis

Harmonic trading is a method of technical analysis that uses specific price patterns to identify potential reversal points in the financial markets. These patterns are based on Fibonacci ratios and geometric shapes. Here are some of the key harmonic patterns:

1. Gartley Pattern:
   1. This pattern is named after H.M. Gartley and is identified by specific retracement levels.
   2. The structure consists of an AB=CD pattern followed by specific Fibonacci ratios.
   3. The key ratios are 0.618 for the BC retracement and 0.786 for the XC retracement.

2. Butterfly Pattern:
   1. The Butterfly pattern is similar to the Gartley pattern but has different Fibonacci levels.
   2. The structure involves an AB=CD pattern and specific retracement levels (0.786 for AB, 0.382 for BC).

3. Bat Pattern:
   1. The Bat pattern is another harmonic pattern with specific Fibonacci levels.
   2. It involves an AB=CD pattern with retracement levels of 0.382 for AB and 0.886 for XA.

4. Crab Pattern:
   1. The Crab pattern is characterized by deep retracements and is considered a reversal pattern.
   2. The structure involves an AB=CD pattern with retracement levels of 0.382 for AB and 2.618 for XA.

5. Shark Pattern:
   1. The Shark pattern is a newer harmonic pattern introduced by Scott Carney.
   2. It involves a 5-point structure and specific Fibonacci levels, including 0.886 for XA.

6. Cypher Pattern:
   1. The Cypher pattern is a relatively recent addition to harmonic trading.
   2. It involves an AB=CD pattern with a specific Fibonacci level of 0.786 for XC.

Gann trading refers to the trading methods and techniques developed by William Delbert Gann, a legendary trader and analyst who lived from 1878 to 1955. Gann was known for his unique approach to analyzing and trading financial markets, incorporating elements of geometry, astronomy, and ancient mathematics. Here are some key concepts associated with Gann trading:

1. Gann Angles:
   1. Gann believed that price and time are interconnected, and he used angles to identify potential support and resistance levels.
   2. Gann angles are drawn from significant price points and are based on the principle that markets move in geometric angles.

2. Gann Fans:
   1. Gann fans are tools used to identify potential support and resistance levels over time.
   2. These fans are created by drawing trendlines from significant price points and extending them into the future at specific angles.

3. Square of Nine:
   1. The Square of Nine, also known as the Gann Wheel, is a tool used to identify potential price levels and reversals.
   2. It is a square matrix of numbers arranged in a spiral pattern, and Gann traders use it to find key price levels and harmonic relationships.

4. Gann Grid:
   1. The Gann Grid is a tool that involves drawing trendlines at specific angles to identify potential price levels.
   2. It is used to analyze price and time relationships to determine potential support and resistance zones.

5. Gann Cycles:
   1. Gann believed that markets move in repetitive cycles, and understanding these cycles could provide insights into future price movements.
   2. Traders using Gann analysis often attempt to identify and trade based on recurring time cycles.

6. Swing Charts:
   1. Gann's swing charts are used to identify the overall trend and potential reversal points.
   2. They help traders focus on the most significant price movements and ignore minor fluctuations.

Gann's trading techniques are considered complex and can be challenging to understand and apply. Moreover, they have both passionate proponents and critics. Some traders find success using Gann methods, while others may prefer more conventional technical analysis approaches.
It's important to note that successful trading involves risk management, a thorough understanding of the chosen methodology, and adaptability to changing market conditions. Traders interested in Gann analysis should dedicate time to study and practice before incorporating these techniques into their trading strategies.

Trading in the direction of the trend is a common strategy employed by many traders. The rationale behind trend following is that markets often exhibit sustained directional movements, and traders aim to capitalize on these trends. Here are some key principles and strategies associated with trading following the trend:

1. Identifying the Trend:
   1. Before entering a trade, it's crucial to identify the prevailing trend. Traders often use technical analysis tools such as moving averages, trendlines, or trend indicators to determine whether the market is in an uptrend, downtrend, or a sideways trend.

2. Moving Averages:
   1. Moving averages are popular tools for trend following. A simple strategy involves using a combination of short-term and long-term moving averages. For example, a trader might use the crossover of a short-term moving average (e.g., 50-day) above a long-term moving average (e.g., 200-day) to identify an uptrend and vice versa for a downtrend.

3. Trendlines:
   1. Drawing trendlines helps visualize the direction of the trend. An ascending trendline connecting higher lows in an uptrend or a descending trendline connecting lower highs in a downtrend can be used to confirm trend direction.

4. Trend Indicators:
   1. Trend-following indicators, such as the Moving Average Convergence Divergence (MACD) or the Average Directional Index (ADX), can provide additional confirmation of the trend's strength.

5. Entry and Exit Points:
   1. Traders may enter a trade when the price is confirmed to be in the direction of the trend. This could be after a pullback or a consolidation period within the trend.
   2. Exit strategies often involve using trailing stops or predefined price targets to capture profits while letting winners run during a strong trend.

6. Risk Management:
   1. Implementing proper risk management is crucial. This includes setting stop-loss orders to limit potential losses in case the trade goes against the trend.

7. Multiple Time Frame Analysis:
   1. Traders often use multiple time frames to confirm the trend. For example, a daily chart might show an uptrend, but checking a weekly or monthly chart can provide a broader perspective.

8. Avoiding Choppy Markets:
   1. Trend-following strategies work best in trending markets. In choppy or sideways markets, it may be more challenging to profit consistently.

Remember that no strategy guarantees success in trading, and there are always risks involved. It's essential to combine trend following with proper risk management, stay informed about market conditions, and continually adapt to changing circumstances. Additionally, each trader may have a unique approach to trend following based on their preferences and risk tolerance.

Running 350pips+

XAUUSD price action on the daily time frame surged northward last Monday to create an all-time high, which was quickly resisted by bears. The technical impulse of XAUUSD price action on the daily time frame is bearish but we may still see a northward retracement before a southward turnaround. The 1961.60/1940.65 horizontal support area (green) is a natural target of a southward drive of price action.

I may be wrong. Trade safe and prosper.

KP

Gold TF H4 Black Swan Bullish Harmonic Pattern.
Need Confirmation

#SILVER / H4

2039 has accomplished

#GOLD / H4

The Fed kicked Spot Gold back into Bull phase:-

After strong bullish move after US Interest Rate, Gold was not able to break 2035 and close below it. Let's see Gold can continue bullish move after some correction in coming week.


XAUUSD, D


XAUUSD, 4H

Currently trend seems a bit mixed, still bullish on a weekly view but on daily ROC dropping and below ROC-Average but more importantly Friday's down close below low of prior high close bar (Thursday) indicates more down days possible:-

Gold is still Bullish on Daily according to Fibonacci recent red candle is just a retracement.

Fibonacci are levels for possible reversal points. They don't determine trend.