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

Seems that the Gold prices managed to hold the strong support, comprising of the lower trend-line support of the channel and 50% Fibonacci Retracement of its 10-year long bull-run from 2001 to 2011, signaling a short-term bounce towards $1140 horizontal mark. However, a sustained break of $1070 could make the metal vulnerable to plunge towards $980 and the $900 mark soon.
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Quoting Fx_Anil
Seems that the Gold prices managed to hold the strong support, comprising of the lower trend-line support of the channel and 50% Fibonacci Retracement of its 10-year long bull-run from 2001 to 2011, signaling a short-term bounce towards $1140 horizontal mark. However, a sustained break of $1070 could make the metal vulnerable to plunge towards $980 and the $900 mark soon. {image}
A short term bounce above 1100 is possible. Will add additional shorts if it retraces.
"The market can remain irrational longer than you can remain solvent"
Bounced above 1104. Both 10 20 and 50 EMA above my 200EMA lines on my 1H to 1M. As for 4H, 20EMA is going upwards touching the 50EMA already. So yes, rebounce is very possible imo.
Any one considering a small bounce of silver up to 17ish considering chinese bubble threat and ongoing bs everywhere around?
I'd like to hear opinions based on fundamentals at the moment because the tecnical long term is short and most fundamentals follow that, thing is i believe this month might see a retrace to those 17ish levels and i'd like to hear opinions in favor or against that.

Best regards
$17 wooo that would be some bounce.

I don't see anything currently that would cause that - funnymental or technically.

Also the trend continues to be down and I always try to wait for the trend to turn before looking to enter the new opposite trend.

BTW probabilities point to further lows.
Quoting anton.olff
{quote} A short term bounce above 1100 is possible. Will add additional shorts if it retraces.
Well, above 1110, there will be a buy, otherwise short/ thanks china.
Quoting tanveera1
Well, above 1110, there will be a buy, otherwise short/ thanks china.
Insane bounce up. Still it may be a fake out and too early to call it a new bullish trend. Honestly will still short. 1113 was my entry. And it looks pretty good so far
Bouncing off Monthly pivot
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Quoting LzJustin
Insane bounce up. Still it may be a fake out and too early to call it a new bullish trend. Honestly will still short. 1113 was my entry. And it looks pretty good so far
expect any bounce up to 113x, please check daily and weekly charts. Altough your short at 1113 may work it's pretty risky right now, I would wait for a touch of the overhead resistance at 113x. I was short at 1142 and covered at 1096 then bought at 1102 but not going to overtrade above 113x, if it ever goes there. Who knows, just a matter of risk.
best.
Quoting tsorin
{quote} expect any bounce up to 113x, please check daily and weekly charts. Altough your short at 1113 may work it's pretty risky right now, I would wait for a touch of the overhead resistance at 113x. I was short at 1142 and covered at 1096 then bought at 1102 but not going to overtrade above 113x, if it ever goes there. Who knows, just a matter of risk. best.
It may hike on September from another news I read. China is still trying to inflate it. Therefore, I guess shorting in an appropriate volume with good SL will be rewarding. Of course, no risk, no gain hahaha. Btw, nice short at 1142 ^_^
Gold has finally broken the line & 1150 is a definite sight on the horizon.
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Combat crazy markets with crazy trading
Quoting LzJustin
{quote} It may hike on September from another news I read. China is still trying to inflate it. Therefore, I guess shorting in an appropriate volume with good SL will be rewarding. Of course, no risk, no gain hahaha. Btw, nice short at 1142 ^_^
Sure, anything can happen in September, I just wanted to say that bear market corrections can be violent. Let's make sure this market wont find us with our pants down. take care.
Quoting CrazyOz
Gold has finally broken the line & 1150 is a definite sight on the horizon. {image} {image}

Can't imagine how many people will boom their account if this happens.
Those Who followed my shorting. Enjoy your pips
Good chance Gold has topped - even if for just a couple of days.
Quoting SunTrader
Good chance Gold has topped - even if for just a couple of days.
Topped? Not sure if that means it means its going down? Its pretty high now again. 1105. Which is around 4.00 away from previous high 1109. Currently Im shorting at 1103 short term tho ^_^
Quoting LzJustin
{quote} Topped? Not sure if that means it means its going down? Its pretty high now again. 1105. Which is around 4.00 away from previous high 1109. Currently Im shorting at 1103 short term tho ^_^
my chart shows 1113 now, what char are you using?
let's see the reaction at 1126 level, if reaches.
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