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GOLD-SILVER

gold 8 hours buy/hold dips TP bulls 1977 usd🔸Hello traders, today let's review the 8 hour chart for gold. Expecting more gains in this market, strong V-shape recovery in progress after we hit the cycle low near 1890 USD. 🔸V-shape recovery projected high set at 1975/1978 USD, which is heavy overhead S/R, bulls will target re-test of the key S/R going into FED in September, this is a bullish impulse in progress until FED meeting late September. 🔸Recommended strategy bulls: seek to buy/hold dips or market buy, final TP bulls set at 1976/1978 usd, expecting solid gains in gold going into FED meeting later in September. good luck traders, this is a swing trade setup, patience required. 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
OANDA:XAUUSDLong
by ProjectSyndicate
39
Gold defies bond sell-off once againNominal 10-year Treasury yields have risen to the highest level since 2007. Just when we though the bond sell-off of 2022 was behind us, it came back with a vengeance. Hawkish Federal Open Market Committee (Fed) minutes and a string of positive economic data from the US are casting doubts whether we have reached peak interest rates in the US. The Fed certainly has left the door open for further hikes and its decisions will be very data sensitive. Relative to the bond market, gold is holding up well at USD1916/oz (on 23 August 2023). While gold prices temporarily fell below the psychologically important US$1900/oz level, Treasury Inflation-Protected Securities (TIPS) prices had fallen much further and other-things-being-equal, the bond market would indicate gold should be trading closer to $1830/oz. Gold’s resilience in the past month mirrors its defiance again the bond headwinds of 2022. Gold has been facing US Dollar headwinds as well in the past month. The Dollar Basket (DXY) has appreciated 2.1% in the past month (to 22 August 2023). With a more hawkish Fed, there is a greater risk of further dollar appreciation. Central banks bought a net 55 tonnes of gold in June following three straight months of selling. The Central Bank of Türkiye's (CBRT) return to net buying in June helped reverse a temporary trend. Having been a significant net seller between March and May to meet local demand, it swung back to net buying in June, adding 11 tonnes to its official reserves. Of all the precious metals, silver fell the most in the past month (-6.1%). Net speculative positioning fell 88% to a level one standard deviation below its 5-year average. However, we suspect that excessive shorts were being covered in the past week. Since hitting an intra-day local low of US$22.35/oz at 13.30 on 15/08/2023 silver prices have bounced up to US$24.14/oz at 15.00 on 23/08/2023 (+8.0%). That low point seems to match the Fibonacci-implied support levels looking at year-to-date silver performance (the 38.2% retracement). Silver inventory in London Bullion Market Association (LBMA) vaults, which fell precipitously in 2022 (-28%), has stabilised and gained 3% year to July 2023. Silver holding in exchange traded commodities (ETCs) have only modestly declined in 2023 so far (4%) after a 15% decline in 2022. The last week’s bounce in silver price takes the gold-to-silver ratio back down to 81 (22/08/2023), from 84 (08/08/2023), fractionally higher than 80, where we were a month ago (21/07/2023). Net speculative positioning in silver fell 88%, one standard deviation below its 5-year average according to Commodity Futures Trading Commission (August 15, 2018 to August 15, 2023) Platinum and palladium also followed silver higher in the past week, but monthly prints have come in lower. Auto sales have largely been improving in the past year, with sales up 18% y-o-y in Europe (June) and US (July). However, China sales fell 1% y-o-y in July. Autos are the main source of demand for platinum group metals. This material is prepared by WisdomTree and its affiliates and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date of production and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by WisdomTree, nor any affiliate, nor any of their officers, employees or agents. Reliance upon information in this material is at the sole discretion of the reader. Past performance is not a reliable indicator of future performance.
EUREX:FCPR1!
by aneekaguptaWTE
Copper - Did Social Media Tell You To Long The CCP Again?They call copper "Doctor Copper" because it's said to forecast the overall world economic conditions on account of being tightly wed to manufacturing. Well, what people are really yammering about with that over the last 20 years is whether or not the Chinese Communist Party is healthy, and the world by proxy being healthy because it tied itself to the most heinous regime in history, the one responsible for the 24-year persecution of Falun Gong by former Chairman Jiang Zemin and the accompanying organ harvesting and genocide. Unfortunately for all the blind bulls, the early 2021-2022 price action was a pretty good indication of a top, and that top is really confirmed by the fact that since October of '22, this bounce has been pretty weak, and starting this month, with all the drama surrounding the slow collapse of the Chinese economy, took out the previous two months' lows. Monthly shows you that August price action took both the July and June lows. Like, that's not the kind of "signal" you want to see to get long for a new all time high. When something is retracing to take out major highs, you want to see lows rarely violated with something of a freight train towards the old highs. Weekly bars show us something of a subtle pattern where it looks like it's just taken some lows and is consolidating and continually flirting with going back up. But in reality the market makers are, most likely, just selling more under the previous $4.00 area. And if that's really true, it means another gap down is imminent, especially after an entire quarter of ranging. If you ask me, the first area that you can look for a long that is more than a scalp on copper is under $2.8, which is a critical pivot from September. And a more likely target in the next 12 months is the $2.00 mark, which was barely swept out in the COVID drama. The reality is, my friends, the Chinese Communist Party is going to fall overnight in our lifetimes. Not five or ten years from now. But very shortly, and everything is going to change. Whether that is caused by Xi Jinping throwing away the CCP to protect himself and China from being taken over by the International Rules Based Order as it uses Taiwan as a soft proxy war, or because the whole world collapses under the results of the persecution of Falun Dafa, since everyone's been going to Shanghai to worship the toads and the Devil Red to get financial benefits. This is the danger. The danger is imminent. But copper trades painfully slowly, so if you want to do this you have to have long duration, ignore the noise, and be willing to suffer some drawdown. China under the CCP is never going to recover. Things are never going to be okay ever again. Things will be okay once mankind returns to tradition. But there won't be an international stock market like this anymore that day.
COMEX:HG1!Short
by LordWrymouth
US Dollar Index Could Be Topping HereSee the three touches on the upper trend line. If this line holds, the DX price could move down to the 98 area. Also the RSI (10) is overbought. Such a chart could be used to short the DX, or to go long the EUR/USD and the precious metals such as gold, silver, platinum. If I were to trade the DX short, I would place an extra big stop loss, maybe at 103.90 or at 104 (maybe even higher) in case of some stop hunting/a shake out before a big move down. Then would carefully add on to a profitable position. Same for going long the other choices: use a big stop loss. (A strong close above the upper trend line would not be good for this trade; a peek-a-boo move that does not actually close above the trend line means the trade is still viable. Also, a daily close below the 103 area would help confirm this trade idea.) Good luck!
ICEUS:DX1!Short
by Bry777
Gold - The Tea Leaves Say: More Downside On Deck3.5% is a lot in gold, and that's about the range of the total landslide we've been through the entirety of August so far. It's the kind of pattern where goldbugs and USD collapse narrative nerds go long and go long or hodl and hodl but the price never goes up. In my last call on gold from the beginning of July, I warned that $2,000 was a death trap. That call was pretty successful, coming just a few dollars shy of the target, abeit it was because the next month's futures contract settled some 2% higher. Gold - $2,000 Is a Death Trap And with the index markets at large, I caution that Nasdaq not breaking 15,000 is actually a real bull trap QQQ - Is It Rally Time? Or Are You Too Early? With gold, geopolitical risks are heightened because Xi Jinping and the Chinese Communist Party he has yet to throw away bought a lot of gold, and at relatively high prices, according to media reports at least. And thus, because of this, a form of subtle on-the-low economic sanctions against Xi and/or the CCP can be to devalue the price of gold, which puts the central bank in a bind. And this is a real problem for China right now with all the other economic catastrophes that land one after another, and the flooding, and the instability, and the posturing of the International Rules Based Order about war/invasion via Taiwan. The CCP won't invade Taiwan. But China might get invaded by the IRBO via Taiwan. You might not believe it. But give it some sober thought. Tacticians are tacticians for a reason. Hitting from the shadows and blind spots is a real useful thing. But for Xi, he can always weaponize the 24-year persecution against Falun Dafa that was launched on July 20, 1999 by former Chairman Jiang Zemin against the entire world. Because the whole world has been going to Shanghai to train under the Jiang faction for economic and social benefits. Which means a lot of closet skeletons. Which means a lot of data dumps can serve as weapons delivered to international media in the future. Anyways, here's the call, friends. Gold is obviously going down and will go down farther. It really looks like it's seeking at least the short term lows, which means $1,900 is longzo-gonzo. And so on a dump from where we're at at time of posting to, say $1,850, you're getting 5% on a very safe short. You can short the hole. And 5% is a lot of money on gold. Probably only at $1,850 can we look for reversal longs towards new all time highs. But with how lethargic gold has been, we may very well just have seen the top on the re-run to $2,080.
COMEX:GC1!Short
by LordWrymouth
2
GOLD (XAUUSD): FOMC Ahead! Your Plan: 🥇 Today, we are expecting the FOMC minutes. Here is your plan to trade Gold. As you know, the market is currently approaching a key daily structure support. Analyzing the reaction of the price to that structure on a 4H time frame, I spotted a horizontal trading range. 1910 - 1912 is the upper boundary of the range. Bullish breakout of that - 4H candle close above, will be a strong bullish signal for you. I would suggest buying the market then, expecting a bullish continuation at least to 1923. Also, remember that the news can be bearish. In such a case, I would recommend staying away from the market. ❤️Please, support this video with like and comment!❤️
OANDA:XAUUSDLong
by VasilyTrader
4
Strifor || GBPUSD-08/08/2023Preferred direction: SELL Comment: The looking for shorts for the British continues. Previously, our ideas for sell for this currency pair worked out perfectly, you can also find them in the profile. The nearest target of the fall is 1.26989, from where sellers will develop downward movement. There is also a possibility of a false breakdown at the local resistance near the level of 1.27877. However, this is an unlikely scenario. Thank you for like and share your views!
Short
by Strifor
3
Weekend trade reportLast week we achieved the following results. 3% overall. The automatic trades did not do as well. The manual trades closed with profit. At the moment only this trade is open: Open Date Symbol Action Open Price SL (Price) 08.04.2023 15:02 EURCHF Buy 0.96149 0.95489 In the coming weeks, fewer trades will be introduced due to the holiday period. News that stood out this weekend: Container company AP Møller-Maersk is gloomy about the outlook of the global economy. The company expects global demand for containers to fall by 1 to 4 percent this year. Previously, the company expected a contraction of between 0.5% and 2.5%. The demand for containers is seen as a good indicator of the health of world trade. Maersk warns that a possible recession in the West and China's struggles since the pandemic will have an impact on container shipping in the second half of this year. Industrial companies are reluctant to purchase new stocks, which means there is less to ship. This will take place in the autumn at the fair. But with this news, the increase in metals will also increase again. Risks must be avoided. We will take a fixed position in gold or silver in the autumn where we will hedge our currency risks. Our rationale is supported by the FED meeting. In it, the fed governors stated that US interest rates may not yet reach their highest point, now that figures on the economy in the United States do not yet show a clear effect. Michelle Bowman, governor of the Federal Reserve, said this at a meeting in Kansas on Saturday. Last month, the Fed raised interest rates to an all-time high of 5.25%-5.50%, the highest level in 22 years. Since then, the question has been how the Fed will proceed. Fed boss Jerome Powell himself indicated that he would mainly look at the economic data in the coming period, before a choice is made. There may be a pause before interest rates are raised further. Governor Bowman added on Saturday that the recent lower inflation figures were positive, but she still wants to see "consistent evidence" that the price level is indeed on its way to the desired 2%. "I will also look for signs of lower consumer spending and signs that the labor market is becoming less tense." In addition to positions in metals, it will also be examined whether a position against the Dollar can be taken given the economic figures that will have a negative impact on the Dollar. As we started our holiday season, so did the news. For the coming week, these are the news items: Mon Aug 7 Tue Aug 8 Wed Aug 9 3:30 CNY CPI y/y -0.5% 0.0% 5:00 NZD Inflation Expectations q/q 2.79% Thu Aug 10 14:30 USD CPI m/m 0.2% 0.2% USD CPI y/y 3.3% 3.0% USD Core CPI m/m 0.2% 0.2% USD Unemployment Claims 231K 227K Fri Aug 11 8:00 GBP GDP m/m 0.2% -0.1% 14:30 USD Core PPI m/m 0.2% 0.1% USD PPI m/m 0.2% 0.1% 16:00 USD Prelim UoM Consumer Sentiment 71.7 71.6 Basically only Thursday and Friday news to keep an eye on. CPI and PPI.
PEPPERSTONE:XAGUSD
by Probeleg
Key Levels and US Market Review for the Asian session open 3/08US and European markets came under fire and took a hit in a risk off move after US credit was downgraded. Traders and investors are looking at the bigger picture now as a lack of confidence into the US government as they distract themselves from the bigger picture of actually managing the economy. With a safe haven move up into the USD and and unwind into an extended share market, we could see this move down gather some momentum especially if US employment does not come out positive on Friday. Expecting a weak open in Asia with the ASX200 to open down 60 pts, the Nikkei to open down over 300 pts and Hang Seng to open down 130 pts. Traders will be keeping an eye on coming employment data in the US Friday and whether the negative sentiment over the US credit downgrade gathers momentum. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper ** If you like the content then take a look at my WEBSITE in the profile to get more daily ideas and learning material ** ** Comments and likes are greatly appreciated. **
NYMEX:CL1!
by TradeTheStructure
xauusd 4hours best level to short/hold TP 1940 usd🔸Hello traders, today let's review the 4 hour chart for gold. Strong push off the lows recently, however currently getting overbought / almost ready for a pullback. 🔸Heavy overhead resistance near 1980 usd is the best spot for the short sellers / bears. Expecting final pop short-term to re-test resistance near 1980 usd. 🔸recommended strategy bears: wait for the final pump and get ready to short from overhead resistance near 1980 USD. stop loss fixed at 2000 USD. TP bears is 1940 usd. this is a swing trade setup for patient traders. good luck! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
OANDA:XAUUSDShort
by ProjectSyndicate
38