XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2844 | Metals Mine

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

  • #56,861
  • Jul 12, 2024 7:22am Jul 12, 2024 7:22am
for the news coming in 8min

dollar setup appears bearish overnight and gold looks bought. silver and copper ... meh.
In tea leaves we trust!
  • #56,862
  • Jul 12, 2024 8:47am Jul 12, 2024 8:47am
Quoting Mcbeaners
for the news coming in 8min dollar setup appears bearish overnight and gold looks bought. silver and copper ... meh.
dollar did drop but gold didn't pop.

for the news in 10min dollar continue down and copper and ES up big imo. the rest meh.
In tea leaves we trust!
  • #56,863
  • Jul 14, 2024 2:42pm Jul 14, 2024 2:42pm
XAUUSD price action on the daily time frame is retesting the 2417.41 horizontal resistance. However, bears are resisting further northward move, leading to the printing of a doji-like candlestick on Friday. Nevertheless, we may still see further bullish move before a bearish correction.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #56,864
  • Jul 15, 2024 4:35am Jul 15, 2024 4:35am
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Success is not final, failure is not fatal... - Winston Churchill
  • #56,865
  • Jul 15, 2024 6:48am Jul 15, 2024 6:48am
Quoting saal
{image}
I notice on your image recent PA channel is less steep than all the prior ones.

Anyway if resistance I see is breached, on a closing basis, agree "the sky is the limit" upside. Though Daily and Weekly ROC are giving conflicting signals presently:-

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TWT
  • #56,866
  • Edited 7:22am Jul 15, 2024 6:57am | Edited 7:22am
gold looks like it's in toping formation to me, should break to ath then drop.

edit - from d1

imo.
In tea leaves we trust!
  • #56,867
  • Jul 15, 2024 2:12pm Jul 15, 2024 2:12pm
Quoting Mcbeaners
gold looks like it's in toping formation to me, should break to ath then drop. edit - from d1 imo.
looks like spot did indeed break out and drop. futures never made it that high.

i've got a little short on now.
In tea leaves we trust!
  • #56,868
  • Jul 16, 2024 8:00am Jul 16, 2024 8:00am
gold could really drop here now that it took out the shorts 30min ago.
In tea leaves we trust!
  • #56,869
  • Jul 16, 2024 9:28am Jul 16, 2024 9:28am
Quoting Mcbeaners
gold could really drop here now that it took out the shorts 30min ago.
Why would it?

The trend is up.
  • #56,870
  • Jul 16, 2024 9:33am Jul 16, 2024 9:33am
Quoting SunTrader
{quote} Why would it? The trend is up.

futures hasn't broken to new highs - market divergence

depends on your timelines. i still think it is topping out. just needs more time.
In tea leaves we trust!
  • #56,871
  • Jul 16, 2024 9:38am Jul 16, 2024 9:38am
i'll add that i think ES is also in the process of topping out.

meanwhile i note the dollar has formed a structural bottom on 1h chart
In tea leaves we trust!
  • #56,872
  • Jul 16, 2024 10:54am Jul 16, 2024 10:54am
Well it sure has now (GC) broken to new highs, intraday and daily.
  • #56,873
  • Jul 16, 2024 11:22am Jul 16, 2024 11:22am
i have a support query with sierra charts - daily under, weekly over on GC.

but to be clear i would expect it to make new highs as mention earlier.

is it a blow off top? we'll see.
In tea leaves we trust!
  • #56,874
  • Jul 16, 2024 11:22am Jul 16, 2024 11:22am
Note this in news section today:-

https://www.forexfactory.com/news/12...-of-a-fed-rate
  • #56,875
  • Jul 16, 2024 8:55pm Jul 16, 2024 8:55pm
Quoting SunTrader
Note this in news section today:- https://www.forexfactory.com/news/12...-of-a-fed-rate
so i guess it's not happening. lol

fixed my charting issue.

lots of money moving into dxy long. since monday.
In tea leaves we trust!
  • #56,876
  • Jul 18, 2024 11:25am Jul 18, 2024 11:25am
Weakness in SI last 2 days taking some steam out of GC.
  • #56,877
  • Jul 18, 2024 12:54pm Jul 18, 2024 12:54pm
copper took at pasting last 12 hours or so but down since friday.
In tea leaves we trust!
  • #56,878
  • Jul 19, 2024 6:25am Jul 19, 2024 6:25am
gold - looking for a long retrace here - weekly traders will be closing thier position (i hope). will look to get in around the news in about an hour.

still think the top is in for gold.
In tea leaves we trust!
  • #56,879
  • Jul 19, 2024 7:30am Jul 19, 2024 7:30am
Quoting Mcbeaners
gold - looking for a long retrace here - weekly traders will be closing thier position (i hope). will look to get in around the news in about an hour. still think the top is in for gold.
lol- nm cad news not usd news.
In tea leaves we trust!
  • #56,880
  • Jul 21, 2024 2:12pm Jul 21, 2024 2:12pm
XAUUSD price action on the H4 time frame went sideways towards the end of Friday after a bearish drive to the 2400.32 horizontal support. We may still see a bullish pullback to retest an intra-day area of value before a southward turnaround.

I may be wrong. Trade safe and prosper.

KP

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