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  • #39,581
  • Aug 22, 2024 1:28pm Aug 22, 2024 1:28pm
Quoting hanzohas
{quote} There is always a chance to both sides. To me, it looks like this move up is on borrowed time. I can almost smell the blood, so I have to go with my instincts
Don't forget this is not just technicals, the fundamentals pretty much support Gold, 10 yr Bonds, Dxy, geopolitics.
We watch the charts from every angle so you don't have to!!
  • #39,582
  • Aug 22, 2024 1:38pm Aug 22, 2024 1:38pm
Today was great... Silver below 29$ is perfect before JayPeePee. Somewhat crucial day tomorrow is, because I'll see how and where the Weekly Candle will close. 29$ is Weekly Resistance and Candle closing below could open the door for 25$ Silver.

If Gold would drop another 100$ then we can start talking about Buying long-term, but this is... not worth it haha.
  • #39,583
  • Aug 22, 2024 1:40pm Aug 22, 2024 1:40pm
Quoting pedro319
{quote} Don't forget this is not just technicals, the fundamentals pretty much support Gold, 10 yr Bonds, Dxy, geopolitics.
Yes, of course
I would never be able to make decisions if I had to put all of that into consideration. I prefer a reductionist approach instead where I even scrap away TA and PA when things become too complicated.
ma ma make me happy
  • #39,584
  • Aug 22, 2024 1:47pm Aug 22, 2024 1:47pm
Quoting hanzohas
{quote} Yes, of course I would never be able to make decisions if I had to put all of that into consideration. I prefer a reductionist approach instead where I even scrap away TA and PA when things become too complicated.
Its not just about having all the info, its more about getting the odds on your side.
We watch the charts from every angle so you don't have to!!
  • #39,585
  • Aug 22, 2024 1:59pm Aug 22, 2024 1:59pm
The question that bothers me is if the Silver now hits its Support, surely it won't hold because Gold has much more room to drop potentially.
Questions, questions... so many questions.

Either way, I'll have to add some Longs very soon on the Silver.
  • #39,586
  • Aug 22, 2024 2:08pm Aug 22, 2024 2:08pm
I expect gold to make a move to 73-74, where I will load up on buys for a move higher. Alternatively, it may move higher before that I'm long already if it falls to that level.. Load up. Bank it friends.
TechKnow
  • #39,587
  • Aug 22, 2024 2:11pm Aug 22, 2024 2:11pm
Quoting pedro319
{quote} Its not just about having all the info, its more about getting the odds on your side.
mmmmmmmmmmmmm the perfect words. Trading is all about statistics. If you know them all you will win. Bad trades can be winners with this knowledge. All of you, please focus on getting the odds on your side through statistics.

Putting the odds in your favor by knowing the statistical outcomes of multiple scenarios > All other information
TechKnow
  • #39,588
  • Aug 22, 2024 2:14pm Aug 22, 2024 2:14pm
Quoting pedro319
{quote} Its not just about having all the info, its more about getting the odds on your side.
What do you think is the lowest the Gold could drop tomorrow? I see a possibility for ~2460$, but anything lower than that it'll take something really significant for that to happen.
  • #39,589
  • Aug 22, 2024 2:16pm Aug 22, 2024 2:16pm
M15 closing below 2480$ opens the door for 2460$.

M15, M30 and H1 under significantly Bearish on both the Gold and the Silver. Right now, H4 is "under attack" and if H4 fails to give some Support, then I'm decently confident that the Gold and the Silver will fall sharply.

I actually did some work on the H4 chart. H4 Support on the Gold will be at exactly 2458$ during Powell's speech.

If something sinister happens, then the low for the Gold is at 2415$ - 2400$, but that's kind of irrelevant at the moment.
  • #39,590
  • Aug 22, 2024 2:22pm Aug 22, 2024 2:22pm
Quoting Techknow
{quote} mmmmmmmmmmmmm the perfect words. Trading is all about statistics. If you know them all you will win. Bad trades can be winners with this knowledge. All of you, please focus on getting the odds on your side through statistics. Putting the odds in your favor by knowing the statistical outcomes of multiple scenarios > All other information
It is all of that and to understand how markets work
Financial markets have mechanical rules for:
technical bounces,
overbought/ oversold,
Rejection of macd signal line
Wash and rinse of the stops
Retracement after thrusting moves
patterns formation, invalidation and so on.
We watch the charts from every angle so you don't have to!!
  • #39,591
  • Aug 22, 2024 2:23pm Aug 22, 2024 2:23pm
Quoting Silver-King
M15 closing below 2480$ opens the door for 2460$. M15, M30 and H1 under significantly Bearish on both the Gold and the Silver. Right now, H4 is "under attack" and if H4 fails to give some Support, then I'm decently confident that the Gold and the Silver will fall sharply. I actually did some work on the H4 chart. H4 Support on the Gold will be at exactly 2458$ during Powell's speech.
how m15 closing below 2480 close opens the door to 2460 ?
Que Sera
  • #39,592
  • Aug 22, 2024 2:27pm Aug 22, 2024 2:27pm
Quoting Catempire
{quote} how m15 closing below 2480 close opens the door to 2460 ?
The system is designed that way.
  • #39,593
  • Aug 22, 2024 2:28pm Aug 22, 2024 2:28pm
Quoting pedro319
{quote} It is all of that and to understand how markets work Financial markets have mechanical rules for: technical bounces, overbought/ oversold, Rejection of macd signal line Wash and rinse of the stops Retracement after thrusting moves patterns formation, invalidation and so on.
Those are paramount and come first. Cant do much without the building blocks. After that is understanding the odds. Right there with ya.
TechKnow
  • #39,594
  • Aug 22, 2024 2:28pm Aug 22, 2024 2:28pm
Quoting Silver-King
{quote} The system is designed that way.
Your system ?
Que Sera
  • #39,595
  • Aug 22, 2024 2:29pm Aug 22, 2024 2:29pm
Quoting Catempire
{quote} Your system ?
Yep. "Mine"

Btw M15 did close just now below, so another push down is highly expected.

Just Sold some Gold now at 2480$. It'll be a good hedge for my Silver Longs which I'm just about to start adding.
  • #39,596
  • Aug 22, 2024 2:33pm Aug 22, 2024 2:33pm
Quoting Silver-King
{quote} Yep. "Mine" Btw M15 did close just now below, so another push down is highly expected.
I can’t for the life of me work out how that 15m candle close below 2480 2 hours before close opens up 2460 … one day maybe but…

see you over 2500 tomorrow

GL
Que Sera
  • #39,597
  • Aug 22, 2024 2:34pm Aug 22, 2024 2:34pm
10 yr Bond also supportive of Gold
W1 AB=CD to be completed as with Dxy
Could happen anytime.
Attached Image (click to enlarge)
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We watch the charts from every angle so you don't have to!!
  • #39,598
  • Aug 22, 2024 2:36pm Aug 22, 2024 2:36pm
Quoting Catempire
{quote} I can’t for the life of me work out how that 15m candle close below 2480 2 hours before close opens up 2460 … one day maybe but… see you over 2500 tomorrow GL
You can't because you don't see what I'm using hahaha.
Everyone has their own secrets and system.

Take care!
  • #39,599
  • Aug 22, 2024 2:36pm Aug 22, 2024 2:36pm
Options markets are reading.

expecting fresh highs… dip into autumn (2180 would be lovely) then skyrocket after the US elections.

feb call options are silly money
Que Sera
  • #39,600
  • Aug 22, 2024 2:38pm Aug 22, 2024 2:38pm
Quoting Silver-King
{quote} You can't because you don't see what I'm using hahaha. Everyone has their own secrets and system. Take care!
good luck
Que Sera
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