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

The XAUUSD price action on the daily time frame turned sideways on Friday at the 3240.08 horizonal support after a bearish drive below it. Although the bigger picture favours bears, we may still see a bullish pullback before further southward drive.

I may be wrong. Trade safe and prosper.

KP

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just received this one. i believe this is the top of gold for now. bear market for the next decade

The XAUUSD market operation on the daily time frame is experiencing increased bearish pressure. Presently, the price action is tackling the 3324.25 horizontal resistance. But we may soon see a southward drive.

I may be wrong. Trade safe and prosper.

KP

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next decade? how?

The XAUUSD price action on the daily time frame is sideways at the 3202.28 intra-day horizontal support. Recent technical prints favour a southward market engineering.

I may be wrong. Trade safe and prosper.

KP

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Gold up a bit pre-market

The XAUUSD price action on the daily time frame printed a bullish candlestick on Friday to retest the 3357.42 horizontal resistance area. Technically, we may still see further northward market engineering before a bearish correction.

I may be wrong. Trade safe and prosper.

KP

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The XAUUSD price action on the daily time frame is sideways at the 3288.80 intra-day horizontal support. The 3366.20/3239.12 zone (purple) is serving as a consolidation channel, and we may still see further southward drive in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

The XAUUSD price action on the daily time frame is disposed bearish. However, price action is presently located at the 3309.73 intra-day horizontal support. Nevertheless, recent technical prints favour southward market engineering.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

The XAUUSD price action on the daily time is bullish. However, the bullish candlestick printed on Friday is located at the 3432.37 horizontal resistance. Technically, we see a bearish challenge in the area. But the liquidity above the area may incentivize northward market engineering before a bearish correction.

I may be wrong. Trade safe and prosper.

KP

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The XAUUSD price action on the daily time frame turned sideways at the 3366.20 horizontal support after a bearish retest. Recent technical prints favour a southward market engineering.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

The XAUUSD price action on the daily time frame assumed a bearish mode on Friday after an intra-day consolidation. But at present it is tackling the 3272.30 horizontal support area. Nevertheless, recent technical prints favour further southward drive.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

The XAUUSD price action on the daily time frame is in consolidation. Presently, price action is at the 3337.10 intra-day horizontal resistance, which is a few pips below the upper boundary of the 3239.12/3366.20 horizontal channel (purple) seen on the weekly time frame. Technically, we may still see further northward market engineering in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

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The XAUUSD price action on the daily time frame retested the 3366.20 horizontal resistance on Friday but met a bearish challenge. Nevertheless, we may still further northward market operation in the early part of this week.


I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Gold daily ranges have been contracting setting up a break (up or down?) with ATR(21) approximately cut in half from April +80 till now right around 40
and BBand (13) inside BBand (21). Also price has been hanging under up trend line.

TWT which direction it breaks and what the catalyst will be. Good chance it will be TACO saying/doing something.

Although the XAUUSD price action on the H4 time frame is sideways, recent technical prints favour a southward market engineering.

I may be wrong. Trade safe and prosper.

KP

AFAIK no effect on the price, current or future, but interesting nonetheless:-

https://www6.slac.stanford.edu/news/...py-catastrophe

The limit does not exist: Superheated gold survives the entropy catastrophe

Although the XAUUSD price action on the H4 time frame went sideways at the 3336.46 intra-day support on Friday, the operating technical impulse favours further southward market engineering.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

IMO with FOMC on Weds and Gold having dropped last 3 trading days Mon and Tues might be wait and see days with sideways action till decision time or thereabouts.

Also Fridays daily bar closed outside TD Channel II which often signals a reversal of some sort or rangebound at least till next FA or TA trigger.

The XAUUSD price action on the daily time frame printed a bullish candlestick on Friday. But the price action is tackling the 3362.37 intra-day horizontal resistance. Nevertheless, we may still see further northward movement in the early part of this week

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)