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

GOLD long term target: 2245 (TP5 Bat Bullish).. now in process to forming Butterfly Bearish Pattern

XAUUSD price action on the daily time frame is tackling the 1796.08/1772.70 horizontal support zone (green) seen on the monthly time frame. The most recent bearish attack at the zone has met with bullish rejection. Presently, price action is located at the minor 1807.55/1810.95 horizontal resistance area (magenta), technically an area where we can expect some bearish challenge. At any rate, any bullish move will likely be temporary, giving way to a bearish rotation.

I may be wrong. Trade safe and prosper.

KP

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#GOLD / Weekly

Gold due for at least a dead cat bounce. Probably along with a dip in the USD.

#GOLD / Weekly, Daily, H4 & H1

XAUUSD price action on the daily time frame is sideways as bulls resist the breakdown of the 1726.82 horizontal support area (green) seen on the weekly time frame. Technically, we may see a bullish pullback before further bearish drive.

I may be wrong. Trade safe and prosper.

KP

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Gold Time Frame Daily ready to go to D point

GOLD Time Frame H4 Bat Bullish Pattern

The bearish drive of XAUUSD price action on the daily time frame is declining in momentum as price action attacks the 1697.170/1617.820 horizontal support zone (green) seen on the weekly time frame. The bearish surge to the upper boundary of the zone on Thursday did not have a follow-through as Friday’s price action printed a doji-like candlestick. Although we may still see further bearish move in the early part of this week, a bullish correction is in the offing.

I may be wrong. Trade safe and prosper.

KP

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XAG/USD

#GOLD / H4

The XAUUSD bearish drive to the 1697.17/1670.82 significant horizontal support zone (green) on the daily time frame is seeing a bullish pullback. Presently price action is at a nearby supply and a northward breach of the supply may see further northward market engineering for liquidity grab at an area of price imbalance. However, a bullish misstep may give way to a bearish turnaround.

I may be wrong. Trade safe and prosper.

KP

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#PLATINUM / Daily

#GOLD / H4

XAUUSD price action on the daily time frame is in a bullish corrective phase of a bearish swing. The bearish swing had retested the 1697.17/1670.82 significant horizontal support zone (green) seen on the weekly time frame. Technicals still favour bulls, but we may soon see a southward rotation at a value area such as the 1782.81/1797.63 horizontal resistance (purple).

I may be wrong. Trade safe and prosper.

KP

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#SILVER / Weekly

XAUUSD price action on the daily time frame is in a bullish correction of a technical bearish structure. Although we may still see further northward move, such a move would be temporary in nature.

I may be wrong. Trade safe and prosper.

KP

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Am I right?

Hello, is there any forecast for XAG/USD in the coming week? It closed Friday with a strong late rally. Unfortunately, I have shorts at $20.418. Do you guys think we will trend higher or will this be a pivot point and XAG/USD will crash below $20 again in the coming week?

All opinions welcomed and appreciated, thank you.

XAUUSD price action on the daily time frame is in a bullish retracement of the 1856.17/1682.35 bearish swing. Presently, it is sideways at the lower part of the broken down 1825.32/1793.16 horizontal support (red). Last Friday’s price action was bullish, and we may still see some northward move, but such a move would be temporary, giving way to a bearish rotation.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)