At this moment, long H4 tail followed by bearish candle, bull trap .... again?

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

Missed the entry, but looking at the long tail of the H4 candle, I decide to stay out.

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

Plus RBA most likely to be bearish in their statement release later. The downfall might continue.

AUD/USD

Just look at the long tail. We knew bears are selling it aggressively at that level.

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

From the H4 candle, looks like it is heavily resisted near that 1265 level.

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

Looks like .8820 is still heavily defended. Bulls unable to break this level with a candle close.

AUD/USD

XT Sir, what are the news which caused the bearish move? USD news are rather mixed, but bad numbers in increased unemployment claims.

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

Yes, I thought so too. It is obviously a bull trap.

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

Thought we can be bullish but the upmove was clearly short lived. Price fail to go above 1252 and minor support 1248 could not hold it. Now price is falling below 1248. Lets see if the H4 candle can close below 1248. If so, we are still bearish.

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

You might be over-leveraging. Pls Play responsibly.

AUD/USD

The downmove continues, looks like its ready to test .8650 level again.

AUD/USD

As long as at least H4 candle has not close above .8820, IMO the downtrend is still intact.

AUD/USD

Despite the upmove, noticed that it is still resisted by .8820 level. Candle couldn't close above this level.

AUD/USD

Keep your shorts then, maybe put a SL above .8820.

AUD/USD

IMO, no sign of reversal yet until we stay above .8820

AUD/USD

Take note that EUR is weak too.

AUD/USD

Don't get it. Pending home sales -8.7% (Extremely Bad data), yet Gold and Silver remains weak.

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

Most likely is month end flow. But price is still resisted by round number .88 and major resistance .882. Not forgetting RBA is backing you at .85

AUD/USD

image Price just fell thru a channel. I will be careful of buying retracement. Also, the moving averages are heading down.

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