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

  • #51,521
  • Jul 29, 2019 2:08pm Jul 29, 2019 2:08pm
Quoting Goldenshot
{quote} Yeah very much got beat up by market. What an exhausting day, I think they targeting 1432-1433 area
see my post above =)
Always Defend your investment 1775
  • #51,522
  • Jul 29, 2019 2:14pm Jul 29, 2019 2:14pm
Quoting Ll1979
shorted on pivot rejection {image}
out with a small loss
persistence and determination alone are omnipotent
  • #51,523
  • Jul 29, 2019 2:16pm Jul 29, 2019 2:16pm
Quoting Ll1979
{quote} out with a small loss
correct!
better see some rejection from 1430 first!
Always Defend your investment 1775
  • #51,524
  • Jul 29, 2019 2:20pm Jul 29, 2019 2:20pm
Quoting Ll1979
https://youtu.be/j6dycBkTswg
Thanks for sharing!

I finally read Dalio's latest article over the weekend where he's telling everyone to buy gold... He makes some really good points. As the economist in your video said, gold is primarily driven by rates right now and there's got to be a lower bound for rates even if it's a little below 0%. When investors have a choice between buying bonds and locking in a loss or buying gold and potentially gaining, gold starts to look a whole lot more appealing. I'm going to seriously look into putting on a big long term position.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #51,525
  • Jul 29, 2019 2:21pm Jul 29, 2019 2:21pm
Quoting Hunterrus84
My next line targets are 1430 and 1433, let's see
Hey just bit curious are u the Mr snipe hunt, aka the gold killer?
If yes how have you been ? 5yrs didnt see u
The Force is with me.. Im One With the Force..
  • #51,526
  • Jul 29, 2019 2:26pm Jul 29, 2019 2:26pm
Quoting Goldenshot
{quote} Yeah very much got beat up by market. What an exhausting day, I think they targeting 1432-1433 area
They may just be....
See you guys in a couple of hours. Then the saga continues.
1427.99 will open up that 1431.95.


PA played both sides of the spectrum today.....
Both buyers and sellers could've made money today.
Edit: daily bull area still lucrative to the upside.....

Stay great.
4&1 All Time Profit: $37,496
  • #51,527
  • Jul 29, 2019 2:26pm Jul 29, 2019 2:26pm
Quoting Goldenshot
{quote} Hey just bit curious are u the Mr snipe hunt, aka the gold killer? If yes how have you been ? 5yrs didnt see u
well, don't know who u are talking about! where we have met?
Always Defend your investment 1775
  • #51,528
  • Jul 29, 2019 2:27pm Jul 29, 2019 2:27pm
Quoting Ef5
{quote} Thanks for sharing! I finally read Dalio's latest article over the weekend where he's telling everyone to buy gold... He makes some really good points. As the economist in your video said, gold is primarily driven by rates right now and there's got to be a lower bound for rates even if it's a little below 0%. When investors have a choice between buying bonds and locking in a loss or buying gold and potentially gaining, gold starts to look...
Nice article!
persistence and determination alone are omnipotent
  • #51,529
  • Jul 29, 2019 4:08pm Jul 29, 2019 4:08pm
Here's where we stand today on interest rate expectations. It'll be interesting to see if we get a shift ahead of the FOMC meeting. Regardless, I'm beginning to think the Press Conference or the FOMC Rate Statement is going to start getting more attention as traders try and position themselves for Sept, Oct, and beyond.
Attached Image (click to enlarge)
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #51,530
  • Jul 29, 2019 4:12pm Jul 29, 2019 4:12pm
Inserted Video
persistence and determination alone are omnipotent
  • #51,531
  • Jul 29, 2019 5:16pm Jul 29, 2019 5:16pm
Happy "choose" day.
Hope we choose bank......

Couple of things standing out @ the moment.
1419 handle will play a role leading upto FOMC
But for now, we seem range bound. Daily close below 1430 still reaffirms what's been going on past couple of days......buy low sell high. Pick levels inbetween carefully.
Last sell order of the day got stopped out..but buy hedge minimised overall loss from that.

Same levels more or less still I play. Will reavaluate levels ahead of LO. Let's see what Asia does....


Back to bed,

Trade safe.
4&1 All Time Profit: $37,496
  • #51,532
  • Jul 29, 2019 8:08pm Jul 29, 2019 8:08pm
So far, just after the SHFE open, we are seeing some selling in Gold and Silver. Both at session lows.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #51,533
  • Jul 29, 2019 9:06pm Jul 29, 2019 9:06pm
Quoting EventsTrader
Here's where we stand today on interest rate expectations. It'll be interesting to see if we get a shift ahead of the FOMC meeting. Regardless, I'm beginning to think the Press Conference or the FOMC Rate Statement is going to start getting more attention as traders try and position themselves for Sept, Oct, and beyond. {image}
Thanks for sharing. I feel like I missed my opportunity on this back when it was >50% for 50bps. I still plan on looking at a Eurodollar trade for it, but there are too many moving parts for gold. Short gold is probably the right move, but who knows what happens if the Fed calls an early end to their balance sheet reduction and gives dovish forward guidance.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #51,534
  • Jul 29, 2019 9:20pm Jul 29, 2019 9:20pm
Quoting Ef5
there are too many moving parts for gold.
I'd agree here. I don't think that only July's rate expectations are at play. For example, if we go into the FOMC meeting still as divided as we are on rate expectations we will definitely get an initial move in favor of the USD, which would probably send gold lower (on a 25bp rate cut). But if the statement or Powell's presser is more dovish than expected, the market could start pricing in further rate cuts for Sept and Oct. This would be a perfect recipe for a whipsaw.

On the other hand, if we get more hawkish statement and/or presser along with the 25 bp rate cut, the USD will rally while gold would sell. That would have some follow through. Probably significant follow through.

However, of the many scenarios that might play out, Powell's presser could serve to calm whatever happens during the rate announcement/statement release. So upon the press conference, the markets could totally reverse.

I'm not saying the above is what's going to happen, just possible scenarios. They are also some pretty good reasons to probably not try and trade the event if or when we get a certain trend, which will probably not happen until the press conference.

I hope to have a preview posted prior to the event, when hopefully we will have more information to work with.

Quoting Ef5
I feel like I missed my opportunity on this back when it was >50% for 50bps.
I agree with you on this. I don't think there is a lot of room left to benefit ahead of the FOMC meeting from a shift in rate expectations. What will trigger the shift during the blackout period with no data left? PCE inflation due out tomorrow? Not likely.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #51,535
  • Jul 29, 2019 9:49pm Jul 29, 2019 9:49pm
Quoting Hunterrus84
{quote} well, don't know who u are talking about! where we have met?
The old or other "Hunterrus" then.. longtime didn't see him around
The Force is with me.. Im One With the Force..
  • #51,536
  • Jul 29, 2019 11:55pm Jul 29, 2019 11:55pm
Anybody making a killing with gbp pairs?
Extreme gut feeling trader
  • #51,537
  • Jul 30, 2019 12:15am Jul 30, 2019 12:15am
Quoting EventsTrader
So far, just after the SHFE open, we are seeing some selling in Gold and Silver. Both at session lows.
Morning gang gang...
I missed all of that bud, was busy snoozing.....

Buttheres something I'm picking up here.....bears are still having abi of a hard time.....we spending more time accumulating long PA whereas bear action happens very quickly.....so selling at extremes as opposed to inbetween may be more suitable...Levels that we used to ladder up are posing a challenge as we look to ladder down.

We remain patient......Trade Safe
4&1 All Time Profit: $37,496
  • #51,538
  • Jul 30, 2019 12:19am Jul 30, 2019 12:19am
Inserted Video
  • #51,539
  • Jul 30, 2019 12:21am Jul 30, 2019 12:21am
Quoting montygoldy
Anybody making a killing with gbp pairs?
Had a couple of short scalps on it yesterday.
It's a serious bear fest...but I know some harmonics guys have been looking at some Long opportunities......interesting times
4&1 All Time Profit: $37,496
  • #51,540
  • Jul 30, 2019 12:32am Jul 30, 2019 12:32am
Quoting montygoldy
Anybody making a killing with gbp pairs?
I do not have access to GBP, will be activated by EOD.
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