though we see some correctional movement on silver
my outlook is still bearish .
currently, the market is standing just beneath the major falling trendline .
I expect that selling volumes will accumulate and we will see a bearish breakout of a bear flag .
for us, it will be a perfect selling signal.
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Gold is noticeably retreating amid the positive progress in trade talks.
* Positive news from Brexit and US-China trade negotiations are enhancing investor sentiment - positive headlines boosts investor’s risk appetite. Particularly, on the US-China landscape, the talks are taking positive course as the negotiations restarted...
This week, we will likely see gold re-testing 1480, where price briefly violated on Friday but quickly rallied above after some bulls visited the metal. If 1480 is unable to hold gold's price, we could likely witness a test of 1446 level in the coming days before gold rally out of its bullish falling wedge.
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very very peculiar sentiment on gold .
if we precisely analyze the price action from the beginning of summer,
we will notice with you that the market was trading in a sharp bullish trend
and, what is crucially important, without correction.
From September, however, the picture has started to change.
It took gold 2 days to overpower the selling pressure at 1520 level and now gunning for the second hurdle located from the current price level to 1547. If the bulls are able to demolish all bears at these levels, then gold is more likely to create another high. With that, the precious metal could be eyeing to equal 2012 high at around 1800...
I am and I was among those traders, who was skeptical in a further exponential growth on gold this autumn.
And finally selling volumes have been accumulated and we see a strong bearish breakout of key structure support .
Our bias clearly remains bearish and there is a lot of space to go lower,
Platinum has broken out and is now either consolidating or correcting. In this screencast I show how I approach it from a trend following perspective.
Disclaimer: This is not a recommendation to trade securities. Should you do so, your risk and losses are your own. In other words sue yourself if you lose your money.
Highly respected resistance level has been obey this position is now live i have sold now and i have a buy limit order which is via the graph
Entry - as soon as possible
SL - 1556.51
TP - 1522.75
(slightly early exit to avoid major support level)
Buy limit (for later)
Entry - 1521.80
SL - 1515.5
TP - 1538.2
On the market open and if the level 1527.00 (Potental pos #1 being a sell limit order) is respected i expect a sharp reversal to 1522.8 if breached due to normal fluctuation or gapping
Potential Pos #2 must be ignored unless there's a candle that surpasses the 1527 level and closes above it and then the buy limit should be opened if respected i expect gold to goto...
Resistance and the latest breakout indicates one the 1M timeframe it's time to sell XAUUSD via the 1 MONTH Timeframe i have postioned the take profit just above the underlying support line just incase the exit isn't completely performed so if respected you'll be out just a tiny bit of profit short for a secure exit good for set and forget...
Jubilee Metals has corrected lower in recent weeks to retest the breakout level of 2.80p and slightly below this at the 61.8% Fibonacci support level. The large reversal today is an encouraging sign which the shares set to close above the 10EMA. It’s also been noted that trading volume has been consistently above 50k for the past 90 days. It looks an interesting...
I'm currently in a Short on Gold from 1422.600, reason being is because I'm expecting a pullback to 1366, before a continuation upwards to 1450-1470. I will be going Long once we get the pullback into 1366.
'Everybody' - well nearly everybody - has forgotten about Silver. Warren Buffet hasn't. Look, why are the big boys always ahead of the rest of the markets? Think!
In the screencast, I show how Silver is apparently itching for a breakout - in a similar way to Gold. If Gold pops above 1400 and stays above, expect big moves on Silver.
There are only three kinds...