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XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #56,463
- Jan 3, 2024 7:58am Jan 3, 2024 7:58am
- | Membership Revoked | Joined Feb 2022 | 2,509 Posts
Don’t focus on making $$$, focus on protecting what you have.
- #56,464
- Jan 3, 2024 10:47am Jan 3, 2024 10:47am
- | Membership Revoked | Joined Feb 2022 | 2,509 Posts
Don’t focus on making $$$, focus on protecting what you have.
- #56,467
- Jan 3, 2024 4:41pm Jan 3, 2024 4:41pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,361 Posts
The time to sell was last Friday after it closed below the low of the high bar day - with stop one tick above the high of high bar day (hope that is clear - see chart image):-
- #56,473
- Jan 7, 2024 11:53am Jan 7, 2024 11:53am
- Joined Dec 2015 | Status: Trader | 8,806 Posts
XAUUSD price action on the daily time frame turned sideways towards the end of last week after a bearish drive to the lower boundary of the 2034.84/2028.01 horizontal resistance zone (red). Recent technical patterns favour bears more than bulls. Thus, any northward move would be temporary, giving way to a southward turnaround.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #56,476
- Jan 11, 2024 7:36am Jan 11, 2024 7:36am
- Joined Jan 2016 | Status: Trader | 4,065 Posts
I think fundamentally Gold is going south. PA has tested the top many times; clearly the top forms a strong resistance. Gold needs strong fundamental incentive to break the top and close above it. With no recession in USA and no war risk, I don't see how Gold moves up.
From TA perspective here is my MT and ST view. If PA breaks and closes below $2015, we will see $1979 very soon. 
From TA perspective here is my MT and ST view. If PA breaks and closes below $2015, we will see $1979 very soon.
- #56,477
- Jan 11, 2024 1:57pm Jan 11, 2024 1:57pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,361 Posts
For the time being price continues lower but momentum is slowing, so I could see it going either way.
Although if I had to choose I'd say up.
But I don't so I'll just wait a trade setup to come along. Like if price breaks and closes outside either horizontal line and trades following day at least one tick more in same direction:-
Although if I had to choose I'd say up.
But I don't so I'll just wait a trade setup to come along. Like if price breaks and closes outside either horizontal line and trades following day at least one tick more in same direction:-
- #56,480
- Jan 14, 2024 12:24pm Jan 14, 2024 12:24pm
- Joined Dec 2015 | Status: Trader | 8,806 Posts
XAUUSD price action on the daily time frame went sideways for a few days at the 2017.77 horizontal support (green). But on Friday it assumed a bullish tone, attempting a bullish retest of the 2048.72 area – which was flipped as horizontal resistance. Although there was a bearish challenge to the move towards the end of Friday, we may still see further bullish move in the early part of this week.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money