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

  • #49,541
  • Jun 11, 2019 4:04am Jun 11, 2019 4:04am
Quoting MzansiObi
{quote} Lol I'd gladly take that. Might not hurt opening a small lot sizes position in secondary account and let it run for some time.
will do the same... let's discuss / swarm think the plan / ♫I'll see you when we get there♫
We err, and err, and err again, but less.
  • #49,542
  • Jun 11, 2019 4:38am Jun 11, 2019 4:38am
1360-1380 is cooking up next... Will be waiting for the continuation to start from this correction.. then will be targeting again for 1360-80
Markets are Irrational
  • #49,543
  • Jun 11, 2019 4:48am Jun 11, 2019 4:48am
Quoting pundit78
{quote} Agreed. I have hedged my long position at 1328, looking for level 1319-20. {image}
short covered at 1322.20, long position still open with SL 1317.38
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  • #49,544
  • Jun 11, 2019 5:12am Jun 11, 2019 5:12am
Quoting jorgen.fx
I wonder if there will be a wave 5 from 1320-ish towards 1360 or will the price drop to 1303 (61.8% retracement). What does the hippo say?
Hahahahaha. We calling it the hippo now?
4&1 All Time Profit: $37,496
  • #49,545
  • Jun 11, 2019 5:22am Jun 11, 2019 5:22am
Quoting tush1822
I am looking at the weekly chart, -the PA is hovering at the top firm trend line, forming a right angle pattern (technically breaks above) -stochastics is not yet complete, moving to overbought situation. -There is good possibility that the rally will continue in coming weeks > which supports all economical & political happenings. -If breaks the trend line > it will reach upto 1460. Good buying zone will be 1320 in couple of weeks. {image}
H4 level line based supports and resistances for reference.
I will buy only after tomorrow's US CPI data release. I guess, by that time price will hover around 1320.
Another technical strong reason is > buyers are in hurry to close that gap
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  • #49,546
  • Jun 11, 2019 5:52am Jun 11, 2019 5:52am
Quoting dweb
{quote} around <1300
Noted friend ...
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #49,547
  • Jun 11, 2019 5:53am Jun 11, 2019 5:53am
Quoting dweb
{quote} around <1300
Noted friend ...
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #49,548
  • Jun 11, 2019 7:58am Jun 11, 2019 7:58am
Quoting leonelaus
I think we will see 1320 today, not sure how London is gonna play.
London does not make me up set today
  • #49,549
  • Jun 11, 2019 8:13am Jun 11, 2019 8:13am
Quoting leonelaus
{quote} London does not make me up set today
goal for 1320
  • #49,550
  • Jun 11, 2019 8:20am Jun 11, 2019 8:20am
Quoting tush1822
{quote} H4 level line based supports and resistances for reference. I will buy only after tomorrow's US CPI data release. I guess, by that time price will hover around 1320. Another technical strong reason is > buyers are in hurry to close that gap {image}
update!!
Till tomorrows US CPI data release, looks like price will be consolidating between 1325 -1320.
If CPI data will be weak > Buy dips.
If CPI data will be strong > need to observe where price will settle bellow 1320.
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  • #49,551
  • Jun 11, 2019 8:39am Jun 11, 2019 8:39am
Quoting MzansiObi
{quote} 1319/1320......but the bearish divergence and momentum on H4 won't have me buying just yet but....
Hourly close from 1319 handle may be worth a shot for a long scalp. Am using every rally as an opportunity to load short
4&1 All Time Profit: $37,496
  • #49,552
  • Jun 11, 2019 9:29am Jun 11, 2019 9:29am
Quoting dweb
GoldH4: It appears 1319.xxis a hot target
Finally hit that target...1318 Next?

1312 would be more convincing for a hard bounce at < 1305. However, PA is king
We err, and err, and err again, but less.
  • #49,553
  • Jun 11, 2019 9:48am Jun 11, 2019 9:48am
Quoting dweb
{quote} Finally hit that target...1318 Next? 1312 would be more convincing for a hard bounce at < 1305. However, PA is king
Jip if this level gives anytime soon, next line in the sand would be the 1310 handle.....but am thinking there's possible releif rally of sorts here back up to 1326ish....... Will lock in some profits and adjusted the SL accordingly
4&1 All Time Profit: $37,496
  • #49,554
  • Jun 11, 2019 10:50am Jun 11, 2019 10:50am
Since I don't know better I'll short 1326. Im thinking 1325 was broken with new bottom at 1319 (support becomes resistance), then pullback to 1326 (61.8% fibo) and then continue down towards 1313/1303.

Looks a little bit too easy though...maybe it's a trap.
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
  • #49,555
  • Jun 11, 2019 11:28am Jun 11, 2019 11:28am
Quoting jorgen.fx
Since I don't know better I'll short 1326. Im thinking 1325 was broken with new bottom at 1319 (support becomes resistance), then pullback to 1326 (61.8% fibo) and then continue down towards 1313/1303. Looks a little bit too easy though...maybe it's a trap.
I agree with your short, volatility has slowed down this week and gold is consolidating - this could change with CPI tomorrow and push the week into some turbulence. I wouldn't stay in a short trade for too long though and would probably target something just a sliver north of 1319.

Traps are everywhere but don't let them prevent you from making a move. Patience is very valuable in my experience but when you are convinced make a strong fast move on the market.
careful not to step in a pile of it
  • #49,556
  • Jun 11, 2019 11:40am Jun 11, 2019 11:40am
Quoting jorgen.fx
Since I don't know better I'll short 1326. Im thinking 1325 was broken with new bottom at 1319 (support becomes resistance), then pullback to 1326 (61.8% fibo) and then continue down towards 1313/1303. Looks a little bit too easy though...maybe it's a trap.
I still believe the retracement Will happen into that 131x area, and it seems like a must

Quoting bulltrap
{quote} I agree with your short, volatility has slowed down this week and gold is consolidating - this could change with CPI tomorrow and push the week into some turbulence. I wouldn't stay in a short trade for too long though and would probably target something just a sliver north of 1319. Traps are everywhere but don't let them prevent you from making a move. Patience is very valuable in my experience but when you are convinced make a strong fast move on the market.
Double that man, agree that at least 1319 point will be break through, IMHO
The Force is with me.. Im One With the Force..
  • #49,557
  • Jun 11, 2019 12:11pm Jun 11, 2019 12:11pm
Would be shorting GOLD for the NEXT 3m+...
It has to be confirmed by the end of the week or in a few weeks (1-3)... when we will see how trends will (appear to) be setting (for the summer; jun-sep)...
Can you afford to take that chance?
  • #49,558
  • Jun 11, 2019 12:14pm Jun 11, 2019 12:14pm
Quoting auricforecas
Would be shorting GOLD for the NEXT 3m+... It has to be confirmed by the end of the week or in a few weeks (1-3)... when we will see how trends will (appear to) be setting (for the summer; jun-sep)...
I have to agree with you..
still too early to tell but same idea
  • #49,559
  • Jun 11, 2019 12:35pm Jun 11, 2019 12:35pm
I am out - we can all make good money when we strategize as one! Good night
We err, and err, and err again, but less.
  • #49,560
  • Jun 11, 2019 12:59pm Jun 11, 2019 12:59pm
ES just turned higher, will be interesting to see if GC starts heading south now.

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