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Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

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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

Gold Time Frame H1 Alt Bat Pattern By HarmonicGanTengKur Analysis
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Gold has been a mixed picture last few weeks (really last few months) but IMO this past weekly close is now aligned with bullish daily phase.

Even still I'm not believer just yet until there is follow through next week.
XAUUSD price action on the H4 time frame went sideways towards the end of Friday. But the recent technical pattern and the preceding technical impulse favour further bullish move in the short term.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
XAUUSD price action on the daily time frame is bullish. It has broken above the 2071.30 horizontal resistance (purple) seen on the monthly time frame. The technical impulse favours further bullish move but the relatively strong bearish swing, that began on December 4, 2023, presents a situation that could incentivize a medium-term southward turnaround.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
XAUUSD price action on the daily time frame made a bullish parabolic drive above the 2071.31 horizontal resistance area to print a multi-year high at the 2195.02 area (purple). Technically, we can expect a bearish correction, but we should await a period of bullish decline of price action on an intra-day basis.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
XAGUSD : On H4 time frame , diamond top pattern
With daily and weekly aligned to the upside, the past few days pullback (triangle) is expected to likely be broken to the upside. TWT meanwhile ...

FOMC this week, so markets will likely wait for Powell's news conference on Wednesday before any big move one way or the other.
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After printing a multi-year high on March 8, XAUUSD price action briefly turned bearish on Tuesday before going sideways for the rest of the week. We cannot rule out further bearish move to retest an intra-day area of value.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
Think SELL .
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ryoiki tenkai : Blue Juggernaut
XAUUSD price action on the H4 time frame went sideways towards the end of last week after bears pushed back a bullish drive that printed an all-time high at the 2222.60 area (purple). The technical impulse favours bulls more than bears and we may still see further northward move to an intra-day area of value, such as the 2186.43/2196.00 market imbalance (blue), before a southward rotation.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
#SILVER / H4
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XAUUSD price action on the daily time frame is bullish. But technically, the bullish drive has been largely parabolic, and we are likely to see a bearish correction, perhaps, after a sustained bullish weakness. This may come after a bullish liquidity sweep at an intra-day (e.g., H4 or H1) area of value followed by a period of intra-day consolidation.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
XAUUSD price action on the daily time frame saw a bearish challenge of the relatively strong bullish drive on Thursday; the first time in six days of trading. This indicates that bulls are not likely to have a sustained drive towards further highs; and a bearish correction is imminent.

I may be wrong. Trade safe and prosper.

KP
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Do your homework, follow the footprints of smart money
$DXY strength finally brought about a (one day or will it be more?) correction.

I'd say likely few more days at least.
Volume on the may Silver contract is very large. Last week 600k contracts x 5000 oz each this week already near 500k contracts at 5000 oz each. Volume is supporting the move. Seems like a potential churn and then the next catalyst in the US economy saying that inflation is not going away. I believe rates will rise before dropping in the US. Canada and Europe are going to be in pain because of it all. I figure silver channels here before the next catalyst subjects it to a move higher.
Quoting enarco
Volume on the may Silver contract is very large. Last week 600k contracts x 5000 oz each this week already near 500k contracts at 5000 oz each. Volume is supporting the move. Seems like a potential churn and then the next catalyst in the US economy saying that inflation is not going away. I believe rates will rise before dropping in the US. Canada and Europe are going to be in pain because of it all. I figure silver channels here before the next catalyst subjects it to a move higher.

i reckon silver is taking a pause here on dollar strength and copper weakness. i'm short.
In tea leaves we trust!
Quoting Mcbeaners
{quote} i reckon silver is taking a pause here on dollar strength and copper weakness. i'm short.
The data that came out this week was quite bullish for rate raises in the US but I think they will miss the call and things will get out of hand before they raise. Thus leading to a proper rally in PM. I would be swing trading this now. Continued $1 swings in a days range in Ag. As it moves higher.
1.2 million contract for the May Silver on the futures over the past 2 weeks. 6 Billion oz being bought here. Open interest will be rising to support the move imho.

It is the inflection point many have been waiting for. imho of course.

Dollar strength and gold and silver strength. And when the dollar finally starts to weaken.....gold and silver strength continue. Inflation is here songs will be sung from the hilltops. For those who are playing the trade correctly.
Quoting enarco
1.2 million contract for the May Silver on the futures over the past 2 weeks. 6 Billion oz being bought here. Open interest will be rising to support the move imho. It is the inflection point many have been waiting for. imho of course. Dollar strength and gold and silver strength. And when the dollar finally starts to weaken.....gold and silver strength continue. Inflation is here songs will be sung from the hilltops. For those who are playing the trade correctly.

What is the interpretation of the purchase of futures and the current factual situation, with a drop of another 65 dollars?
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Let us be green
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