Hi McBeaners. You called the sell level nicely (1756). What do you have for a target on this trade?

XAU/USD & XAG/USD - Gold & Silver Traders Thread

This leg down is painting an expanding formation, a continuation pattern. Another clue that the break should be higher soon.

EURUSD only

The low today for EU is 1.1763. Within 10 pips is close enough to the expected bottom. I am starting to buy here.

EURUSD only

I´ve been watching EU for a while now. I believe it is forming a perfect inverted Head & Shoulders pattern. The right shoulder will be completed at the 1.1754 level. The target once the neckline is broken , is 1.2150 See H4 chart below.

EURUSD only

I thought you were holding them till the end of the month...

Gold

Did you close all the other longs you had?

Gold

I have often wondered why is it that Gold needs so many tests of the Low/High before breaking out from a Low/High? In most other pairs, 2 or 3 tests is enough to break either way. If you can help explain this, please do. Below is the current H1 ...

Gold

In my humble opinion, 1.1750/60 could possibly be the low for this swing, to complete the inverse Head and Shoulders formation. US CPI tomorrow could be the trigger for a big rise.

EURUSD only

First target is 1916. Second target is 2075 2786 may take a long time to reach. Many months...

Gold

We should keep our eye on the big picture. The monthly chart shows an almost perfect Cup with Handle formation that should break higher. If and when it does, the projected price is 2786. Monthly chart below.

Gold

I would be very appreciative if you explain in detail market structure and liquidity. If you give examples with charts it would be perfect. Thanks in advance.

Gold

I agree with your chart.

Gold

I agree with you, but in my view you chose the wrong bottom point. You cannot count the flash crash of 8/9 as a technical bottom. For me, the real bottom was 1717 on 8/10. Gold retraced to the 38,2 level.

Gold

This is the channel I believe Gold is following. The chart is H4.

Gold

Hello, can you explain the reason why you feel so confident that it has to touch 1775 before going up? Thanks.

Gold

1795 level is putting up a fight. If it fails to break it we may soar higher. We´ll see... Edit: Also, today is a strong USD day and Gold is holding... This could mean a move back to test 1830 starting today.

Gold

Gold is severely undervalued relative to fiat currencies, stocks and crypto. All it needs is a big name to endorse it and it will fly. Maybe a double in the next year or two. Especially with runaway inflation right around the corner.

Gold

My chart shows a potential breakout to the upside for Gold. Maybe NFP will be the trigger. It would also coincide with a major drop in the stock market. See Nasdaq wedge on the daily chart below.

Gold

DXY Cup with Handle is close to breaking higher. This could send the EU bulls to the slaughterhouse...

EURUSD only