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

  • #56,881
  • Jul 21, 2024 4:46pm Jul 21, 2024 4:46pm
Dixy at H4 Bearish sellers Aoi but still not taken the LQ so there is still chance for Gold to drop further to next daily LQ support of 2370 .

If Biden news impacts and market opens gap up then looking for long using LTF breakout confirmation would be ideal .

But as per current overview if Gold breakdowns the Support then same level can be retest for further sell using LTF confirmation .
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  • #56,882
  • Jul 22, 2024 12:30pm Jul 22, 2024 12:30pm
Looking to take a sell or gold at 2430 that should be a good level to sell
  • #56,883
  • Jul 22, 2024 4:00pm Jul 22, 2024 4:00pm
Quoting ZeusArrow
Dixy at H4 Bearish sellers Aoi but still not taken the LQ so there is still chance for Gold to drop further to next daily LQ support of 2370 . If Biden news impacts and market opens gap up then looking for long using LTF breakout confirmation would be ideal . But as per current overview if Gold breakdowns the Support then same level can be retest for further sell using LTF confirmation . {image}
Update 22-07-2024

Even though Gold opened with 100 pips Gap up but it remained on it's downtrend momentum . There are few Internal Support levels which can act as support to cause retracements .
Today Gold made a H4 Bearish Zone before taking support from Historical H4 RBS zone inside Daily Bullish area ...

My POV is 3 possible trading setups which needs to be traded based on what confirmation we see at 15m timeframe

1. Retest of H4 sell zone 2400-07 and Look for sell confirmation after LQ sweep

2. Break of bottom Historical support area 2386-84 and look for sell continuation till 2370

3. Break out of newly formed resistance 2400-07 and RBS buying continuation trade

I will be looking for 15m confirmation patterns to decide my Trade ...

Dxy remained sideways on H4 bouncing between recent H4 Sup Rest with due LQ sweep levels
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  • #56,884
  • Jul 23, 2024 7:28am Jul 23, 2024 7:28am
reckon gold is forming a bottom here (1h and lower)- but i'm short looking for fresh lows to shake out longs. nice h&s formation on 5m.

then i'll be looking for a longs ideally below monday's low.
In tea leaves we trust!
  • #56,885
  • Jul 23, 2024 8:08am Jul 23, 2024 8:08am
i see the same setup for ES (fresh lows and then up). dollar also looks bid.
In tea leaves we trust!
  • #56,886
  • Jul 24, 2024 9:55am Jul 24, 2024 9:55am
gold - was right about forming a bottom but wrong about how it would actually bottom out. took some losses.

es - right so far - now it needs to reverse and power up to old highs.

fingers crossed.
In tea leaves we trust!
  • #56,887
  • Jul 24, 2024 10:48am Jul 24, 2024 10:48am
Once again it appears Silver is holding Gold back.
  • #56,888
  • Jul 24, 2024 5:42pm Jul 24, 2024 5:42pm
DXY causing a Breaker RBS on daily Timeframe could be a sign of dollar turning strong .

But if this support level fails we can expect the major crosses to dominate Dollar ........

Current POV on Gold is bearish after recent pullback to level 2430 but now it is going to be interesting to see if the bottom support of 2384-80 holds or fails
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  • #56,889
  • Jul 26, 2024 3:05am Jul 26, 2024 3:05am
gold - 1h bottoms in imo. i'm long here.
In tea leaves we trust!
  • #56,890
  • Jul 26, 2024 11:22am Jul 26, 2024 11:22am
Quoting Mcbeaners
gold - 1h bottoms in imo. i'm long here.
from d1 i'm seeing a topping formation ibuilding - in it's last move imo. i'm still long and would like to see a high over yesterday's high.

a great shorting opp from that point.

weekly chart topping formation is still valid.
In tea leaves we trust!
  • #56,891
  • Jul 26, 2024 3:48pm Jul 26, 2024 3:48pm
Quoting Mcbeaners
{quote} from d1 i'm seeing a topping formation ibuilding - in it's last move imo. i'm still long and would like to see a high over yesterday's high. a great shorting opp from that point. weekly chart topping formation is still valid.
looks like da boyz will allow gold to rally into monday (doubt it will go past that) and with non-farm next week should drive it right down.

wishful thinking? maybe.
In tea leaves we trust!
  • #56,892
  • Jul 28, 2024 3:04pm Jul 28, 2024 3:04pm
XAUUSD price action on the H4 time frame is in a bullish corrective mode. Nevertheless, we may still see a northward liquidity grab in the early part of this week before a southward turnaround. The technical impulse favours bears more than bulls.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #56,893
  • Jul 29, 2024 11:59pm Jul 29, 2024 11:59pm
mondaŭs sell off didn't create the setup i was thinking was at play.

so a rally to 2400 (should pip the prev high at 2403 on sunday night) and setup double top of sorts. i'll be short high above 2403 ish.
In tea leaves we trust!
  • #56,894
  • Jul 30, 2024 6:48pm Jul 30, 2024 6:48pm
Hi guys. I am a bit confused about gold futures contracts.
Why did GC1! opened today(30/07/24) with a huge gap. And why GCQ2024(AUG) suddenly lost volume and started making weird candlesticks. At first i thougt it was because the contract is near its ending, but then i cheked the next contract GCU2024(SEP) and it has even worst volume.
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  • #56,895
  • Jul 31, 2024 3:32pm Jul 31, 2024 3:32pm
Quoting piquigostoso
Hi guys. I am a bit confused about gold futures contracts. Why did GC1! opened today(30/07/24) with a huge gap. And why GCQ2024(AUG) suddenly lost volume and started making weird candlesticks. At first i thougt it was because the contract is near its ending, but then i cheked the next contract GCU2024(SEP) and it has even worst volume. {image}{image} {image}
1. first chart is continues contract and automatically rolled over.
2. once the contract loses volume, it starts to jump all over. most folks have moved over traded contract.
3. sept contract isn't traded we are now on dec.
In tea leaves we trust!
  • #56,896
  • Jul 31, 2024 3:35pm Jul 31, 2024 3:35pm
Quoting Mcbeaners
mondaŭs sell off didn't create the setup i was thinking was at play. so a rally to 2400 (should pip the prev high at 2403 on sunday night) and setup double top of sorts. i'll be short high above 2403 ish.
so - did rally over 2400 and then setup several bearish setups and then proceed to break them. i did catch some of that long dec contract but closed just over previous high in august contract.

spot didn't make new highs. we'll see but suspect we won't see new spot highs and most of the shorts (in futures) have been washed out.
In tea leaves we trust!
  • #56,897
  • Aug 2, 2024 9:23am Aug 2, 2024 9:23am
surprised gold hasn't broken the top here. it's coming...
In tea leaves we trust!
  • #56,898
  • Aug 2, 2024 9:55am Aug 2, 2024 9:55am
Quoting Mcbeaners
surprised gold hasn't broken the top here. it's coming...

then it dropped like a stone.

still reckon they will take back to the ath's (spot). waiting for some sort of bottom here.
In tea leaves we trust!
  • #56,899
  • Aug 2, 2024 5:33pm Aug 2, 2024 5:33pm
Quoting Mcbeaners
{quote} then it dropped like a stone. still reckon they will take back to the ath's (spot). waiting for some sort of bottom here.
Depends if we get an emergency FED rate cut or not
  • #56,900
  • Aug 2, 2024 6:51pm Aug 2, 2024 6:51pm
Quoting Xauusdscalpr
{quote} Depends if we get an emergency FED rate cut or not
election demands it - so we are getting it.
In tea leaves we trust!
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