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Preciousmetals

XAUUSD Bearish PressureAs you see in the 4H chart, XAUUSD was moving in an ascending parallel channel and after rising to 1807 which was the highest price for it in the past few days, price could not grow more and failed to reach the the channel’s upper band in its last upside move and dropped sharply. Currently, we can see the downside pressure on price and it is trying to break the channel’s lower band. There is a support level around 1783 which has pushed the price for several times in the past but it doesn’t seem to be strong. If price breaks the red support zone around 1783 and closes a bearish candle below this level, I expect more drop on XAUUSD towards the next support area which would be around 1772-1769
FX:XAUUSDShort
by Mahtab_Tradia
7
XAUUSD: Wedge PatternAs you see in the 4H time frame, price is in an uptrend and has made a higher high and a higher low. Currently, price is moving in a rising wedge and is moving towards the resistance level at 1795. If price breaks the resistance level and closes a bullish confirmation candle in lower time frame (1H) above this level, I expect more rise on XAUUSD towards the next resistance level around 1811. On the other side, if price gets rejected from 1795 and closed a bearish candle below this level, since rising wedges usually broken out to the downside, we can expect a drop on price towards the support levels at 1765 and 1755.
FX:XAUUSDLong
by Mahtab_Tradia
5
Gold & Silver Reaching A Launchpad with Currencies (like 2003)Many traders believe the current setup in Gold/Silver is similar to 2018 or 2015. But the reality is this is more similar to 1999~2003 with a strong US Dollar and weakening global currencies. As long as Gold/Silver continue to strengthen while the US Dollar stays strong, foreign currencies will weaken and wreak havoc on foreign markets. Eventually, the risk levels will increase in foreign markets which will send FEAR skyrocketing. That will move capital into Gold/Silver and break the channel/trends that are currently in place. I believe we are very close (possibly 2 to 4+ months away) from that breaking point. Watch global Emerging Markets and foreign governments for signs of collapse. These will be the early warning signs that Gold/Silver are "T-minus 10". Once the US Dollar peaks/turns, we'll be at "T-minus 3". At that point, everything will be ALL SYSTEMS GO for Gold & Silver. Pay attention. This is a huge setup for precious metals.
COMEX:GC1!Long
by BradMatheny
1
Silver's wicked Dragonfly DojiAfter, over 500 days of a series of lower highs and lower lows, Silver has printed a text book dragonfly doji on the 1 month chart. This is a Bullish reversal candle when found at the bottom of a down trend but there are a few rules to a Dragonfly Doji: ✅ The candle closes & opens at or damn near the same price. Preferably at the exact same level, but it’s not 100% necessary. ✅ The lower wick (shadow) is very long. ✅ The upper wick is absent or close to non-existing. Looking at chart, all 3 boxes are checked perfectly but thats not always enough. We need confluence in order to reduce false signals. Trading a candlestick pattern alone can give poor results to your trades. Dojis pair well with volatility indicators such as Bollinger Bands or the ADX DI, when reacting to support, moving averages and even FIB levels. If you put the 50MA on the chart you will notice that sellers pushed the price down into market structure where it held, and price action wicked back above the 50MA to close as support. Silver also found support on the lower Bollinger Band. On a side note, Silver had closed 12 of the last 14 weekly candles as red but also printed a MASSIVE Bullish Engulfing candle on the weekly. If the next candle closes below the low of the Dragonfly, this invalidates the signal. When using the Dragonfly Doji to trade, enter at the close of the candle for confirmation, look for the next resistance level to take profit and move your stop loss up as the trade grows. As stated in a previous post, I do not trade paper metals, I simply use the charts to try and time better entires to stack physical metals. Which I did at 18.65 :) With the state of the market and economy, Pm's may be in for quite the rally once the world is willing to admit we are in a recession. Im stoked on this pattern and cant wait to see how the August candle closes. Do you trade or stack silver?
TVC:SILVERLong
by jlouvierobv
Silver analysis: bear market rally and what lies aheadSilver has risen by 11% in the last two weeks. This performance comes after losing about 30% since March 8, indicating a so-called bear-market rally. The main macro driver behind the silver price recovery has been a sharp drop in US bond yields, with the 1 0-year yield falling to 3-month lows at 2.6%, its lowest level since April, as the market now expects the Fed to be more dovish because of the recession. From a technical standpoint, silver is approaching an important area of technical resistance in the $20.5-20.6 range, which includes the 50-day moving average, which has been trading above the metal's prices for more than three months. This area was also the support level in May, which was then breached in late June, resulting in a sharp selloff. The significant rebound from the lower line of the major descending channel indicates a positive short-term price momentum for silver , with the RSI breaking above 50 for the first time since April 20th. An overshoot above $20.7, and then above the psychological level of $21, would provide the bulls with additional confidence. Then, $22-22.3 (May/June resistance & February-April support) provides an important resistance area, where some stronger seller pressure could appear. However, as long as prices do not decisively exceed the 50% Fibonacci retracement level at $22.6 and the 200-dma at $22.9, the broader silver's picture remains tilted to the bearish side. Looking ahead, silver's strong correlation with safe-haven gold – which is currently close to one – is a positive factor if recession fears continue to fuel speculation on a dovish Fed. In contrast, if the Fed continues to tighten monetary policy despite the recession, this might keep silver prices relatively contained (below $22.5) for longer. Analysis by Capital.com's forex and metals analyst Piero Cingari
TVC:SILVER
by Capitalcom
Silver possible will Bull soon Hey guys, this is part of my post earlier explaining the bigger picture and what we could be seeing till the end of the year into 2023. Gold and silver are both bouncing on previous support lines and after the next sell-off in the equity markets, we could see a double bottom solidifying the bottom for now and see precious metals bull hard maybe back up to the highs of this year before the next inflation cycle downturn early next year. This idea is supported by the pattern with the AUD - USD, if you compare Silver with AUD they track perfectly so is a great indicator of precious metals markets (chart below). DXY and yields falling also support this idea.
TVC:SILVERLong
by jackwheeler
DXYHTF weekly chart analysis shows that W3 is likely in at my $109.50 target posted 3-4 weeks ago in my group channel & here on TV as well. The extended 3rd wave is actually structurally perfect. W3 hits the 1.618% fib extension as in most strong bullish momentum charts and forms a bearish hammer top on the weekly showing that the top of wave 3 is likely now in. This being said W4 can hit the 618% fib retracement level around $97.32 or the 50% at $99.60 or even the 382% around $101.88. As of now there's no way to be sure how wave 4 plays out but I expect Wave 4 to hit $98 and during this TF of the DXY W4 the stock market & crypto markets should outperform vs the DXY and possibly we finally get the big blow off top to the SP500 around 6,000 and $78k BTC. After that W5 will come fast and destroy any risk assets.
TVC:DXYShort
by Big_Mike716
$XAG - Keep an eye!$XAG - Keep an eye! Precious metals have had an ugly time within the market, when it comes to rate hikes decisions stronger dxy leading commodities to weaken further, but now we are at key areas when it comes to HT and that's interesting. As I always state HT = ST movement. Regarding support areas of $XAG if $18 doesn't hold we head further lower to $17 and that can easily be achieved but this area of support we've tested for yrs and that's why it really matters and sure we could look at metals miner we could even look further to get the best R/R for XAUXAG to seek out further validation. I'm personally on side line for now. There has been various headlines regarding, lot of buyers when it comes to physical precious metal buying for 'inflation' hedge... Have a great weekend TJ
OANDA:XAGUSD
by Trade_Journal
Trade Idea: Short setup in XAUUSD in case of a bearish scenario.In every new post, I always like to explain that my views are not a statement of "This will happen." Instead, my posts should be interpreted as "We never know what direction the price will take" However if the price movement becomes bearish, this is how I will trade the market. Another important element to highlight is that my setups have a 50% win rate. That means that over 30 setups, I have 15 stop losses. So how do I make money if half of the time I'm wrong? The answer is: "Thanks to Risk to reward ratios." So, my win rate is 50%; however, when I win, I make 2 times what I'm risking on average. And that's the key. You must be prepared to see deviations from the average. For example, on a strategy with a 50% win rate, you will sometimes observe 6 or 7 consecutive stop losses. That's called Standard deviation (but we will speak about that in another post). This long introduction is made to develop a realistic view of a setup or a strategy and, in this case, my strategy. -------------------------------------------------------------------------------------------- Bearish Technical Perspective: a) The price had been moving in a range since the top in August 2020. b) 1 year later, in August 2021, we observed the beginning of a new bullish trend defined by the white ascending trendline c) Almost 300 days later, the price broke that trendline, and we observed a corrective formation. (A pullback) d) I never trade a structure without having a clear pattern. In this case, I see the ABC pattern. e) Another important element is that I never take a setup that I can not prove that the same concept worked in the past with the same or similar context. (Like this scenario in 2013)(It's important that you look for more than one scenario) QUESTION : Is this a guarantee that the setup will be successful? ANSWER: NO, it's not guaranteed. Let's take a second to speak about a good principle in trading. You can find evidence that something should evolve in a certain way; you can see a perfect scenario, literally a 10/10, and still have a stop loss. You are working with statistics. But don't get disappointed; if you only focus on 10/10 setups, you will see over a good sample that there's a clear edge. Final details about the setup: I'm risking 3% of my capital on the stop loss and aiming to make 6% in case of a take profit. The setup duration is expected to be 30 to 45 days if everything goes as planned. If I have a stop loss, that's it. So let your stop-loss gently take you out of the market. If the order is not executed and we observe bullish movements, I will change my perspective to trade long. Thanks for reading!
OANDA:XAUUSDShort
by ThinkingAntsOk
5