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

Here's a top-down technical perspective on GOLD/USD. On the weekly time frame, market operation is presently sideways at the 1752.70/1672.30 zone (magenta). But technicals still favour bulls. The sideways of price action continues to be dominant on the daily time frame. Meanwhile, bulls are presently influencing price action. If the 1752.70/1672.30 zone (magenta) is not breached either way, trading with the prevailing momentum should be a good strategy.
On the H4 time frame, price action is disposed northward, but the momentum is declining as it nears the 1752.70 horizontal resistance boundary. Bearish candlesticks were printed in the last two H4-sessions on Friday, but the last H4-candlestick was relatively insignificant and could not breach the rising trendline (blue) from recent lows. We may see bulls continue a northward move in the early part of this week, perhaps to retest the 1752.70 horizontal resistance boundary, before a southward turnaround.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Gold most likely will go up above $1,750 after a period of retracement.

#GOLD / H4

It's very strange to see this level of correlation between equities (risky assets) and gold (safe haven). Something isn't adding up. Correlation is very positive going back to the end of last week. My theory is the Fed stimulus is simultaneously propping up equity prices while sending investors to search for safer investment vehicles. Both can't last.

Hello to all, guys!
rarely write in here, but tis a very potential good position may be.. :


the whole version: https://www.tradingview.com/chart/XA...he-best-beast/

have anybody some screens from EWI - elliott international on Gold? i can pay if it needed. just one or two pictures with them count on gold..

waiting for next swing down but gold still up for 1770/98 play, waiting weekly to fail for sustain bear.

Here's a top-down technical perspective on GOLD/USD.

On the weekly time frame, the 1677.80/1745.50 zone (magenta) has been the primary channel within which the market has been operating in the past 10 weeks. Last week, market operation printed a small bullish candlestick which nestled at the 1745.50 upper boundary. We should await how the market handles the area in the early part of this week.

Technicals on the H4 time frame favour bulls but price action is located at the 1745.50 horizontal resistance area. We should await how price action handles the area in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

Hello everyone, I made a new Gold Market Update. I am expecting prices to move much higher and reach ATH. Please consider taking a look at my analysis and let me know what you think.

this is the best time to sell gold to make over 1000 pips

#GOLD / H1

I would not sell the gold because of a cross somewhere in an indicator...

The silent killer (the annual trend), shows an increasement of the buy units in the global dominance department, by +500/+600 units at the very same levels?

Attached Image (click to enlarge)

And the annual 2020 trend has not started, yet? Or it is JUST STARTED?

Lets see. Who knows? Not me...

Short term target hit. This is what I was waiting for

gold will stand at 2000 before 2020 end

looking for breakout for 1730/20 play . take care

Anyone else think this weekly gold chart is screaming breakout?

I think it's not screaming yet because the volume is too low but $1,800 is possible by the end of the month.

Sell @1765-1768 or @1773-1775 or if h1 closes below 1753. Manage your stop losses following risk management and money management.

Here's a technical perspective on the XAUUSD market you may consider. I am a swing trader. On the daily time frame, price action has broken above a rising channel (red) seen on the monthly time frame as well as a horizontal channel (blue) within which it has been operating since April 14, 2020. However, presently, it has been in a sideways mode since last week Tuesday as it entered the multi-year horizontal resistance area around 1771.20. We should await how price action handles the area in the early part of this week. Technicals on the H4 time frame still favour bulls but there is a bearish pressure.


I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Attached Image (click to enlarge)