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

  • #53,721
  • Oct 31, 2019 10:27am Oct 31, 2019 10:27am
long 1411.25
MTF PA with indicators = a winning team
  • #53,722
  • Oct 31, 2019 11:02am Oct 31, 2019 11:02am
Quoting notyetthere
long 1411.25
stopped out for -1.5 USD, new try at 1509.70
MTF PA with indicators = a winning team
  • #53,723
  • Oct 31, 2019 11:19am Oct 31, 2019 11:19am
All waiting for the non-farm payroll tomorrow.........
Fed cuts interest rates.......
>>>>> New trend for gold
  • #53,724
  • Oct 31, 2019 11:27am Oct 31, 2019 11:27am
Quoting farukh
{quote} Are you looking to see PA around 1520? Because current month opened with Gap up from there. Now it's been acting as strong resistance.
yes... I'm watching....

tomorrow has payroll so I'd rather wait.
  • #53,725
  • Oct 31, 2019 11:32am Oct 31, 2019 11:32am
if the candle of the month closes like this it means a big buy for me.
  • #53,726
  • Oct 31, 2019 1:18pm Oct 31, 2019 1:18pm
Quoting auricforecas
Man, not a good times to trade gold, at least in the UP, which seems to be my favourite direction for gold... Prepare your bets, if you have the brass b... I would rather be out the market for tomorrow, just not to be swing-spiked out However, when the party will be over, I think GOLD will see his glory So, still optimistic for up, specially under 1500 seems like a no-brainer... but out of precautions... I am completely out of all markets for the rest of the week... Yeah, some might be disappointed...
Inserted Video
Can you afford to take that chance?
  • #53,727
  • Oct 31, 2019 4:26pm Oct 31, 2019 4:26pm
Quoting rosspetX
{quote} Confirming my post from almost 12 hours ago, gold is moving UP versus all pairs today and should keep moving UP for several days. Looking at AUD which today will start weakening versus all pairs (maybe reversing down as of tonight/tomorrow, Oct. 31), I am expecting a more profitable BUY position on XAUAUD. I am happy my broker has it. Profitable trading everyone!
Update from my initial post. The big boys tried to use the FED news in order to push gold down, collect some stop losses, play around with our patience however, the chart patterns rarely mislead...Price went up, as forecasted and now GOLD should reach the target zone on Nov. 1st. Then my forecast becomes a bit uncertain... Should get out of positions before the weekend and wait for the first couple of days next week to see how price evolves.

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  • #53,728
  • Oct 31, 2019 4:29pm Oct 31, 2019 4:29pm
I posted this chart on September 5, 2019
https://www.tradingview.com/x/gSsSakRu/

My target remains the same at 38.20% Fibonacci retracement 1450s zone
Current market price chart
https://www.tradingview.com/x/cTKmPsvs/
"Show me the charts, and I'll tell you the news." Bernard Baruch
  • #53,729
  • Oct 31, 2019 5:37pm Oct 31, 2019 5:37pm
Quoting EventsTrader
{quote} I find myself agreeing with you a lot! When the day comes and we disagree we should really hash it out because one of us might not be seeing something. Anyways, you are right, gold popped right back up after tanking on the rate statement. In addition to the trend line you drew, what I noticed was it came back into the shorter term upward trend that it's been in as gold prices recover from over extended losses related to Brexit chaos. {image}
Appreciate it mate!! we will keep on posting the views, lets see when we will not agree each other!! it will be interesting. Apologies for late replies, busy with kids Halloween party today!! I will trade only next week once I get clarity from NFP and PMI data. I guess this time data will be really screwed. and later it will be balanced by US CHINA trade deal in next two weeks time.
  • #53,730
  • Edited 6:16pm Oct 31, 2019 5:56pm | Edited 6:16pm
Quoting goldcartel
I posted this chart on September 5, 2019 https://www.tradingview.com/x/gSsSakRu/ My target remains the same at 38.20% Fibonacci retracement 1450s zone Current market price chart https://www.tradingview.com/x/cTKmPsvs/
I am finding it hard to see a down move at this point. I am seeing more of a continuation of the up move to reach 1600 by March 2020.

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EDIT: an additional note. As noted in another post, in order to see a reversal I want to see a sloping trendline on the green stochastic (period 125) which I am not seeing at the moment. Thus, as per my analysis, the move UP should continue. I agree that no explosive move up is to be expected, however, no move down at the moment...
  • #53,731
  • Oct 31, 2019 6:32pm Oct 31, 2019 6:32pm
Quoting rosspetX
{quote} I am finding it hard to see a down move at this point. I am seeing more of a continuation of the up move to reach 1600 by March 2020. {image} EDIT: an additional note. As noted in another post, in order to see a reversal I want to see a sloping trendline on the green stochastic (period 125) which I am not seeing at the moment. Thus, as per my analysis, the move UP should continue. I agree that no explosive move up is to be expected, however, no move down at...

Nice chart and I completely agree that it has the potential to test 1610 zone (anchor candle March 25, 2013). But I reckon it needs a healthy retracement to 38.20% fib retracement. Keep in mind, Trump says a new location for the signing of 'phase one' of the US-China trade deal will be announced soon, this could be the catalyst to pull gold down to 38.20% fib retracement.
"Show me the charts, and I'll tell you the news." Bernard Baruch
  • #53,732
  • Nov 1, 2019 1:34am Nov 1, 2019 1:34am
The short term trend changed to down, at least till NFP which could change everything again.
MTF PA with indicators = a winning team
  • #53,733
  • Nov 1, 2019 2:06am Nov 1, 2019 2:06am
#GOLD / H4 /Two Ideas, Four Counters
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  • #53,734
  • Nov 1, 2019 2:19am Nov 1, 2019 2:19am
Quoting tush1822
busy with kids Halloween party today!!
Same here! Hope it was a good one!

Quoting tush1822
I will trade only next week once I get clarity from NFP and PMI data. I guess this time data will be really screwed. and later it will be balanced by US CHINA trade deal in next two weeks time.
It's never a bad idea to observe the markets when you aren't sure of things. I may keep an eye on NFP. If we get strong data, it would have to be followed up with stronger than expected ISM PMI, I could see some pricing out of the Dec rate cut. There's still about 20% holding on to hope for that Dec rate cut.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #53,735
  • Nov 1, 2019 3:01am Nov 1, 2019 3:01am
overlooked something: long from 1512.60
MTF PA with indicators = a winning team
  • #53,736
  • Nov 1, 2019 3:47am Nov 1, 2019 3:47am
Quoting olegchartist
This is some insightful post from #Gold market. What is the main question for traders? Where the price will reverse. In order to produce bearish reverse, market need: many active longs (they will be trapped) many triggered SLs (they will be knocked out just before the slide) This is the cruel market nature. It described in a quote by Bernard Baruch: The main goal of the market is to make as many fools as possible So, how to detect the level of reversal? 1) Here is the OrderBook indicator, it collects data from different forex brokers. An indicator...
Slkt?
  • #53,737
  • Nov 1, 2019 4:26am Nov 1, 2019 4:26am
Quoting notyetthere
overlooked something: long from 1512.60
and flat at 1513.30, waiting for a more serious retrace to reenter long.
MTF PA with indicators = a winning team
  • #53,738
  • Nov 1, 2019 5:16am Nov 1, 2019 5:16am
Quoting notyetthere
{quote} and flat at 1513.30, waiting for a more serious retrace to reenter long.
long 1511.60
MTF PA with indicators = a winning team
  • #53,739
  • Nov 1, 2019 5:32am Nov 1, 2019 5:32am
out -0.75 USD
MTF PA with indicators = a winning team
  • #53,740
  • Nov 1, 2019 5:48am Nov 1, 2019 5:48am
maybe back to 1490
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