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  • #45,721
  • Oct 4, 2024 2:34am Oct 4, 2024 2:34am
Anyone short silver?
  • #45,722
  • Oct 4, 2024 3:12am Oct 4, 2024 3:12am
Quoting Interesting0
Anyone short silver?
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  • #45,723
  • Oct 4, 2024 3:13am Oct 4, 2024 3:13am
Quoting Silver-King
{quote} {image}
Dont follow it much as moves a little erratic for me…looks like a good probability for a decent drop no? Played with resistance here quite a bit would take some to rally out and hold without dropping ?
history does tend to repeat itself
  • #45,724
  • Oct 4, 2024 3:15am Oct 4, 2024 3:15am
Quoting Interesting0
{quote} Dont follow it much as moves a little erratic for me…looks like a good probability for a decent drop no? Played with resistance here quite a bit would take some to rally out and hold without dropping ?
All these H4 candles have been consistently closing below Resistance. Yes, the wick would be above, but they closed below Resistance.
  • #45,725
  • Oct 4, 2024 3:18am Oct 4, 2024 3:18am
likely to test high of the day and break it before the news
  • #45,726
  • Oct 4, 2024 3:19am Oct 4, 2024 3:19am
Last Resistance for the Gold is at 2680$.

However, as I said, I believe PMs will tank hard today.
  • #45,727
  • Oct 4, 2024 3:19am Oct 4, 2024 3:19am
Quoting Silver-King
{quote} All these H4 candles have been consistently closing below Resistance. Yes, the wick would be above, but they closed below Resistance.
could be consolidating to break out then or waiting for gold
  • #45,728
  • Oct 4, 2024 3:23am Oct 4, 2024 3:23am
Quoting Orand
Long at 2660 SL : 2656 TP : 2664 --------------------- Add long at 2661.50 Sl : 2656.50 Tp : open
good USD news only makes gold short landing
yeah keep buy and buy more
ready for new ATH
  • #45,729
  • Oct 4, 2024 3:23am Oct 4, 2024 3:23am
Quoting Interesting0
{quote} could be consolidating to break out then or waiting for gold
Or it could be near Resistance to discourage and take out Sellers. We'll see in 4 hours...
  • #45,730
  • Oct 4, 2024 3:24am Oct 4, 2024 3:24am
Quoting Silver-King
Last Resistance for the Gold is at 2680$. However, as I said, I believe PMs will tank hard today.
have the same view but just parking PM’s at top end of ranges current prices is giving that tint to possible breakout lowering confidence. Generally Gold moves are like 20-40$ - avg. around 30$ either way … this only gets still above 2600 less chance of breaking down support would’ve been good to be nearer to 2630 prior to data releases… could still have that 100$ random move especially with a day like today
  • #45,731
  • Oct 4, 2024 3:29am Oct 4, 2024 3:29am
Quoting Silver-King
{quote} Or it could be near Resistance to discourage and take out Sellers. We'll see in 4 hours...
also have my rule 3 weeks of green candles soon to call for a red candle , doesn’t always work but probability is high
  • #45,732
  • Oct 4, 2024 3:31am Oct 4, 2024 3:31am
Quoting Interesting0
{quote} have the same view but just parking PM’s at top end of ranges current prices is giving that tint to possible breakout lowering confidence. Generally Gold moves are like 20-40$ - avg. around 30$ either way … this only gets still above 2600 less chance of breaking down support would’ve been good to be nearer to 2630 prior to data releases… could still have that 100$ random move especially with a day like today
Yeah... for the last couple of NFP reports, the Gold would go up first and would then dive. But, these were all about 30$, 40$ moves. However, as you pointed out, one day (7.6.2024.) for example, it was also NFP that day, the Gold dropped 100$.
  • #45,733
  • Oct 4, 2024 3:36am Oct 4, 2024 3:36am
This baby's goin' to 130$.
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  • #45,734
  • Oct 4, 2024 3:39am Oct 4, 2024 3:39am
Quoting Interesting0
{quote} also have my rule 3 weeks of green candles soon to call for a red candle , doesn’t always work but probability is high
Could be haha. Weekly on the Silver owes us one retracement before going for 35$ in my opinion.
  • #45,735
  • Oct 4, 2024 3:46am Oct 4, 2024 3:46am
Quoting Silver-King
{quote} All these H4 candles have been consistently closing below Resistance. Yes, the wick would be above, but they closed below Resistance.
For me, it depends on resistance itself. To describe where is resistance? It's too subjective. Normally trader choose their resistant upper shadow, upper candle body, or open candle. Everyone has their own methods. There are probabilities for buying or selling. Nobody right. IMO
Look right, we'll see the signs
  • #45,736
  • Oct 4, 2024 3:48am Oct 4, 2024 3:48am
Quoting azhantahir
{quote} For me, it depends on resistance itself. To describe where is resistance? It's too subjective. Normally trader choose their resistant upper shadow, upper candle body, or open candle. Everyone has their own methods. There are probabilities for buying or selling. Nobody right. IMO
I use the system to find Support and Resistance. Otherwise, I wouldn't know.

I mean theoretically, one can perhaps see where Resistance or Support is, but not in a pip.
  • #45,737
  • Oct 4, 2024 3:52am Oct 4, 2024 3:52am
We had good UE Claims, out of the world good ISM Services PMI report, good ADP report, good JOLTS report.
As the US selections are nearing, the data will probably be good for the rest of the month and if it isn't, it won't be some kind of a surprise where the data is totally bad.
  • #45,738
  • Oct 4, 2024 3:53am Oct 4, 2024 3:53am
Quoting Silver-King
{quote} I use the system to find Support and Resistance. Otherwise, I wouldn't know. I mean theoretically, one can perhaps see where Resistance or Support is, but not in a pip.
Look right, we'll see the signs
  • #45,739
  • Oct 4, 2024 3:55am Oct 4, 2024 3:55am
Basically, if NFP H4 candle closes below 2656$ (Support) it's going towards 2600$ and if it closes above 2680$ (Resistance) it's going above 2700$.
  • #45,740
  • Oct 4, 2024 3:59am Oct 4, 2024 3:59am
TP for the Silver as soon as it's below 31$.

Like in Gran Turismo... coffee break!
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