mega overbought situation, next target is 1530. it will touch soon. All banks are following foot steps of FOMC.

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

Morning all, I personally dont think today FED will reduce any interest rates stating lack of clear evidences of weakness in economy. If this happens, in day or two, the gold will touch 1400 range faking the breakout where buyers will jump in again.

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

1419.7 is perfect entry for long.

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

Need to look for the confirmation signs to check the validity of the marked TL. May be after early US session today it can be confirmed with some sort of reversal pattern.

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

I don't think anyone will short the gold, it a mega over bought situation.

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

1445 , ...it touched too early. That means underlying macroeconomic situation is worst than what we are seeing on news...god knows what we will see this rest of the year. ....best luck.

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

Thanks mate !! I am just giving back what I have learnt from this group.

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

If anyone wants to have a close look at the traingle I was talking about.

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

I have all my positions closed at 1434. Cheers

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

If next 2 hours the H4 candle close above 1420, the breakout will be validated. Furthermore a day close above 1420 will add further confirmation. Technically as i said the close above 1420 will complete the last kiss to the breakout level of the ...

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

resumed the bullish movement, I think today and tomorrow it will cross 1435 mark.

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

For instance this is already broke out as per my analysis. It will retest 1420 resistance.

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

As per my experience dealing with the traingles , after third touch , on fourth attempt it breaks out..and breakout direction mainly depends on the sentiments rather than strict rule. let's how this works out.

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

All please do not get scared with position of 10 lots, its a demo account. I am a normal retail trader not an alien trader!!!

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

On a day chart, right angle triangle as flag forming, its bullish pattern with possible breakout upwards passing 1435 , I am buying the dips from 1420. Bullish movement relates to overall political situations!!

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

I think it will retest 1405 range validating the TL after tomorrows RBA minutes and USD core sales.

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

Not to mention unless Mr Trump use his Tweeter cannon over the weekend which will cause the GAP on Monday opening!!

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

If you can mange the SL just bellow 1400, i think it will be alright. The Chinese GDP data is due on Monday. There are high chances because of the recent stimulus the GDP data will be strong which will cause Gold to touch back 1400 before it shoots ...

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

The very big monthly picture. The PA is in the breakout region. If this month prices will not retrace back to 1350 zone, the breakout will validated and the price will reach up to 1560 in next three months.

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