XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2836 | Metals Mine

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

  • #56,701
  • May 16, 2024 10:53am May 16, 2024 10:53am
i guess we are dealing with c&h.... so 42 something. well early days so i'll be looking for 32.047 initially.
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In tea leaves we trust!
  • #56,702
  • May 16, 2024 4:01pm May 16, 2024 4:01pm
Quoting Mcbeaners
i guess we are dealing with c&h.... so 42 something. well early days so i'll be looking for 32.047 initially. {image}
didn't activate, i reckon they will take this under today's lows during the asian session then up. above 30? maybe.
In tea leaves we trust!
  • #56,703
  • May 17, 2024 8:00am May 17, 2024 8:00am
Quoting Mcbeaners
{quote} didn't activate, i reckon they will take this under today's lows during the asian session then up. above 30? maybe.
didn't go under as i expected. ES looks toppy and i'm not sure what that will do the metals. so i'm ready to drop out any negative signal.
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  • #56,704
  • May 17, 2024 10:05am May 17, 2024 10:05am
Quoting Mcbeaners
{quote} didn't go under as i expected. ES looks toppy and i'm not sure what that will do the metals. so i'm ready to drop out any negative signal. {image}
took profits here at 30.839 ish

will get back long shortly probably.
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  • #56,705
  • May 17, 2024 1:14pm May 17, 2024 1:14pm
Quoting Mcbeaners
{quote} took profits here at 30.839 ish will get back long shortly probably. {image}
well there you are, bailed too early. given how much time it fermented, i could have expected more upside. shame.

probably will hit 31.379 today.

i'm not going to chase it.
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  • #56,706
  • May 17, 2024 2:07pm May 17, 2024 2:07pm
Quoting Mcbeaners
{quote} took profits here at 30.839 ish will get back long shortly probably. {image}
Expect to go higher ?
  • #56,707
  • May 17, 2024 6:04pm May 17, 2024 6:04pm
Quoting AlxT
{quote} Expect to go higher ?
hi Alx in a word... yes. this breakout move will probably trigger buyers to enter the market. this could (probably will) just continue straight up not allow anyone in. it might be the case of putting in a long with a trailing stop and let come what may.

the long build out on the july contract was size large but sept contract was poor. so i'm confused. i also perfer support to be broken before breaking out, ensures most of the market is on the wrong side of the trade. as this didn't happen i'm nervous.

i will have a think over the weekend and decide what i will do.
In tea leaves we trust!
  • #56,708
  • May 17, 2024 7:37pm May 17, 2024 7:37pm
Quoting Mcbeaners
{quote} hi Alx in a word... yes. this breakout move will probably trigger buyers to enter the market. this could (probably will) just continue straight up not allow anyone in. it might be the case of putting in a long with a trailing stop and let come what may. the long build out on the july contract was size large but sept contract was poor. so i'm confused. i also perfer support to be broken before breaking out, ensures most of the market is on the wrong side of the trade. as this didn't happen i'm nervous. i will have a think over the weekend...
You said 'the long build out on the july contract was size large but sept contract was poor.' . What do you mean? First, you talk about 2024? Then about futures ? Hence, try to predict based on them ?
  • #56,709
  • May 18, 2024 6:45am May 18, 2024 6:45am
Quoting AlxT
{quote} You said 'the long build out on the july contract was size large but sept contract was poor.' . What do you mean? First, you talk about 2024? Then about futures ? Hence, try to predict based on them ?
i'm looking at Order Flow or Cumulative Delta for those contracts. I don't have access to spot otherwise I would look at that. if silver is going to 42 bucks based on cup and handle formation then i would expect both contracts to show long accumulation. I do see that in current contract (July) but not alot in Sept Contract. unless traders are looking for this move to only be around during the July contract and will back 30 bucks by Sept contract. maybe for sept traders will start now to accumulate. needs to be monitored.

hopefully that answered your question.

btw i'm not a expert just self taught.
In tea leaves we trust!
  • #56,710
  • May 18, 2024 8:32am May 18, 2024 8:32am
any thoughts on gold and where the price might be headed?
  • #56,711
  • Edited 9:58pm May 18, 2024 9:45pm | Edited 9:58pm
Quoting Mcbeaners
{quote} i'm looking at Order Flow or Cumulative Delta for those contracts. I don't have access to spot otherwise I would look at that. if silver is going to 42 bucks based on cup and handle formation then i would expect both contracts to show long accumulation. I do see that in current contract (July) but not alot in Sept Contract. unless traders are looking for this move to only be around during the July contract and will back 30 bucks by Sept contract. maybe for sept traders will start now to accumulate. needs to be monitored. hopefully that answered...
Hey, where do you find cumulative delta and can you teach me about this method ?
If it is not for the Sept contract, this means it might go back down ? Do you think it might get to 42 usd ?
  • #56,712
  • May 19, 2024 2:58pm May 19, 2024 2:58pm
Quoting chumdumm
any thoughts on gold and where the price might be headed?
hi chum - no not really. i don't see any decent trading positions. I assume you are a trader not an investor. i will post if i do.
In tea leaves we trust!
  • #56,713
  • May 19, 2024 2:58pm May 19, 2024 2:58pm
Quoting AlxT
{quote} Hey, where do you find cumulative delta and can you teach me about this method ? If it is not for the Sept contract, this means it might go back down ? Do you think it might get to 42 usd ?
hi Alx - responded to you private message.
In tea leaves we trust!
  • #56,714
  • May 19, 2024 3:06pm May 19, 2024 3:06pm
XAUUSD price action on the H4 time frame has turned sideways as it tackles the 2417.81 horizontal resistance area seen on the weekly time frame. We cannot rule out further northward movement before a bearish correction.

I may be wrong. Trade safe and prosper.

KP


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  • #56,715
  • May 19, 2024 6:45pm May 19, 2024 6:45pm
Quoting KeenPips
XAUUSD price action on the H4 time frame has turned sideways as it tackles the 2417.81 horizontal resistance area seen on the weekly time frame. We cannot rule out further northward movement before a bearish correction. I may be wrong. Trade safe and prosper. KP {image}
i agree and tend to think that we'll see an new ATH some sort of correction or sideways. AHT is optional.

now for silver, didn't pop at open and not seeing any setups forming 1m5m charts so will wait until shanghai opens.
In tea leaves we trust!
  • #56,716
  • May 19, 2024 8:02pm May 19, 2024 8:02pm
Quoting Mcbeaners
{quote} i agree and tend to think that we'll see an new ATH some sort of correction or sideways. AHT is optional. now for silver, didn't pop at open and not seeing any setups forming 1m5m charts so will wait until shanghai opens.

that's a nice shanghai open....
In tea leaves we trust!
  • #56,717
  • May 19, 2024 8:16pm May 19, 2024 8:16pm
Quoting Mcbeaners
{quote} that's a nice shanghai open....
I still think it won't go too far ... but who knows...
What's your position on this ?
  • #56,718
  • May 20, 2024 12:14am May 20, 2024 12:14am
Quoting AlxT
{quote} I still think it won't go too far ... but who knows... What's your position on this ?
i sold too early and then feel asleep. it been a very long day for me.

i''ll be looking for some sort of structure and trade of that. on 5m we are working sideways. i'd like to see break of support and move higher. will get that? probably not.

the silver market is so small that it can run to any crazy price - both directions.
In tea leaves we trust!
  • #56,719
  • May 20, 2024 12:34am May 20, 2024 12:34am
Quoting Mcbeaners
{quote} i sold too early and then feel asleep. it been a very long day for me. i''ll be looking for some sort of structure and trade of that. on 5m we are working sideways. i'd like to see break of support and move higher. will get that? probably not. the silver market is so small that it can run to any crazy price - both directions.
You say 'probably not' to moving higher ?
If you entered sell and fell asleep you can exit when it gets back there, if not too high leverage ... Still fine.
  • #56,720
  • May 20, 2024 12:40am May 20, 2024 12:40am
Quoting AlxT
{quote} You say 'probably not' to moving higher ? If you entered sell and fell asleep you can exit when it gets back there, if not too high leverage ... Still fine.
higher. no way would i short this at this time. longs only.
In tea leaves we trust!
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