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

  • #56,541
  • Apr 13, 2024 4:28am Apr 13, 2024 4:28am
Finally, Uncle gold bow to King dollar.
  • #56,542
  • Apr 13, 2024 8:18am Apr 13, 2024 8:18am
Quoting leafarct
{quote} What is the interpretation of the purchase of futures and the current factual situation, with a drop of another 65 dollars? {image}
Volatility in a solid bull run are part of the process. Rise consolidate and rise consolidate are the process. If you think this is the end of the move in PM that is a thesis. I however think this is just the process for a bull run. On a higher probability basis than this is the end.
  • #56,543
  • Apr 13, 2024 10:20am Apr 13, 2024 10:20am
Quoting enarco
{quote} 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.
hi Enaro
I tend to be early in my trades. :o)
In tea leaves we trust!
  • #56,544
  • Apr 13, 2024 12:52pm Apr 13, 2024 12:52pm
Quoting Mcbeaners
{quote} hi Enaro I tend to be early in my trades. :o)
I would expect a churn here from 28 to 30 and then the break out. The move in AG and AU is the global market signaling something. And what that signal is, is not good. Healthy now to churn for a bit as it works its way above $30.

A AU AG ratio of 65 would put it near $40.

Good luck with the short. But it can always go down further from here before the move back up. I do not think the banksters will be heavily short now based on the signal I mention.
  • #56,545
  • Apr 14, 2024 2:10pm Apr 14, 2024 2:10pm
XAUUSD price action on the daily time frame went sideways at the close of trading market last week as it printed a relatively long bearish candlestick on Friday in opposition to the bullish print of Thursday. Although the bearish print of Friday failed to close below Thursday’s opening, this was the first time in several days that bears have exerted such pressure. This situation is favorable to bears and may incentivize a southward liquidity sweep, even if there is a northward move or sideway of price action in the early part of the week.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #56,546
  • Apr 14, 2024 4:26pm Apr 14, 2024 4:26pm
Quoting KeenPips
XAUUSD price action on the daily time frame went sideways at the close of trading market last week as it printed a relatively long bearish candlestick on Friday in opposition to the bullish print of Thursday. Although the bearish print of Friday failed to close below Thursday’s opening, this was the first time in several days that bears have exerted such pressure. This situation is favorable to bears and may incentivize a southward liquidity sweep, even if there is a northward move or sideway of price action in the early part of the week. I may...
I think the breakout is AU and AG recently is the market setting a tone of calling bullshit to just about everything that is going on economically. There may be pullbacks here but its more likely to be consolidation. I understand the short term nature of some folks trading but I think this is the kahuna moment many have been waiting maybe a couple decades for.

Buy the dips. AG has the potential to go to $38 to $40 here after some consolidation. Hopefully it was a lot of shorting going on on Friday cause its that kind of mindset that will take it there.
  • #56,547
  • Apr 15, 2024 8:11am Apr 15, 2024 8:11am
looking for silvers end....

there are other support/'resistance lines to work off so here's one.
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In tea leaves we trust!
  • #56,548
  • Apr 15, 2024 8:17am Apr 15, 2024 8:17am
Quoting Mcbeaners
looking for silvers end.... there are other support/'resistance lines to work off so here's one. {image}
Try a gold silver ratio of around 65
  • #56,549
  • Apr 15, 2024 8:21am Apr 15, 2024 8:21am
Quoting enarco
{quote} Try a gold silver ratio of around 65
thanks but not much of a believer in that given silver is a byproduct of gold/copper deposits. historically not really accounted for.
In tea leaves we trust!
  • #56,550
  • Apr 15, 2024 8:25am Apr 15, 2024 8:25am
Quoting Mcbeaners
{quote} thanks but not much of a believer in that given silver is a byproduct of gold/copper deposits. historically not really accounted for.
reloaded here 28.61 ish. looks decently bid
In tea leaves we trust!
  • #56,551
  • Apr 15, 2024 8:31am Apr 15, 2024 8:31am
Quoting Mcbeaners
{quote} reloaded here 28.61 ish. looks decently bid
Happy trades on what is I believe the largest bull run in silver in history.
  • #56,552
  • Apr 15, 2024 8:33am Apr 15, 2024 8:33am
Quoting enarco
{quote} Happy trades on what is I believe the largest bull run in silver in history.
having been burnt so many times on silver, i'm cautiously optimistic.
In tea leaves we trust!
  • #56,553
  • Apr 15, 2024 8:45am Apr 15, 2024 8:45am
Quoting Mcbeaners
{quote} reloaded here 28.61 ish. looks decently bid
stopped out. buyer around 28.07 ish.
In tea leaves we trust!
  • #56,554
  • Apr 15, 2024 8:46am Apr 15, 2024 8:46am
Quoting Mcbeaners
{quote} having been burnt so many times on silver, i'm cautiously optimistic.
I think the macro news is what has finally punched AU and AG up. And that is what is finally making this move sustainable. Holding in the 28 plus area just proves it out. But it has to hold it. Consolidate here and move higher is the healthy move. All daily closes here above 28 support the thesis.
  • #56,555
  • Apr 15, 2024 8:49am Apr 15, 2024 8:49am
Quoting enarco
{quote} I think the macro news is what has finally punched AU and AG up. And that is what is finally making this move sustainable. Holding in the 28 plus area just proves it out. But it has to hold it. Consolidate here and move higher is the healthy move. All daily closes here above 28 support the thesis.
which marco news do you refer?

if it was hyper inflation, i would agree. :o)
In tea leaves we trust!
  • #56,556
  • Apr 15, 2024 8:59am Apr 15, 2024 8:59am
Quoting Mcbeaners
{quote} which marco news do you refer? if it was hyper inflation, i would agree. :o)
interest rates in the US are not going to drop. The data is there for your review.

Hyper inflation? Why is that required? Assets are so inflated via debt that hyper inflation is not going to happen. Preservation of capital might be a reason though no?
  • #56,557
  • Apr 15, 2024 9:08am Apr 15, 2024 9:08am
Quoting enarco
{quote} interest rates in the US are not going to drop. The data is there for your review. Hyper inflation? Why is that required? Assets are so inflated via debt that hyper inflation is not going to happen. Preservation of capital might be a reason though no?
interest rates - agree.

inflation - think currency collapse.
In tea leaves we trust!
  • #56,558
  • Apr 15, 2024 9:23am Apr 15, 2024 9:23am
Quoting Mcbeaners
{quote} interest rates - agree. inflation - think currency collapse.
re currency collapse

nice conspiracy theory. Maybe some where down the road in decades. You are short in your stance. Been a nice discussion. Happy trading.
  • #56,559
  • Apr 15, 2024 9:27am Apr 15, 2024 9:27am
Quoting enarco
{quote} re currency collapse nice conspiracy theory. Maybe some where down the road in decades. You are short in your stance. Been a nice discussion. Happy trading.
no worries nice talking to you too. lol.

think 1 decade.
In tea leaves we trust!
  • #56,560
  • Apr 15, 2024 9:40am Apr 15, 2024 9:40am
Quoting Mcbeaners
{quote} stopped out. buyer around 28.07 ish.
looks like 28.10 is the best there was. missed it of course.

copper and silver are in sync.

should top 28.80
In tea leaves we trust!
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