Looks like the H&S pattern is going to fail because of very strong bullish pressure. I have to quote an important principle by Martin Pring.

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

One more interesting fact is India- The Gold demand is expected to grow this year because of reduced Income tax few weeks back. India is consuming around 750-800 tonnes of gold annually mainly for Jewellry production.

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

I guess it indicates that traders are not convinced with the short term positive outlook of the US economy and living with the fact that underlying global economic outlook is still weak.

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

I can see the H&S reversal pattern forming on H1 and H4 chart. Any comments? how we can trade?

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

sl hit.... looking for 1310 support.

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

As per my previous experiences with NFP releases, it was average hourly income has dictated the dollar index. It has direct implication on the inflation and spending.

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

I think XAU will resume its normal bullish trend. strong support at 1317.5. Lots of needles lining up. I have added long at 1320.8 tp 1325.5 sl-1318.5.

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

I think average hourly income has more implications on DXY than unemployment numbers and %

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

I didnt notice that mate!! thanks. I was just concentrating on the SnR

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

H1 chart support.

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

Following things I have found so far Commission per lot is less for Pepperstone compared to IC market. For EURUSD Pepperstone charges £ 3.22/Lot , IC market charges £5.0/lot. Perpperstone conducts online webinars whereas IC market has Autochartist ...

Pepperstone VS IC Markets?

Since long I am learning a scientific way of trading. only one thing in mind not to Gamble!!!

Are We All Gambling?

There is no reversal confirmation dude !! Not good decision. Best luck!!!

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

I am also looking for a bearish conformation, looks like on H1 , double top will form. Best luck.

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

Major Support and resistances marked.

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

update:- tp taken at 1299.

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

Could you please elaborate mate!! sounds interesting.

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

As expected Gold tested the trendline support zone (1275-1278) now its up for flight till 1300 again. Successfully added 2 long positions which are running.

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

quick advise - if you are comfortable understanding the economics affecting the the Gold prices, start working on the technical analysis. Cheers

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

As per my analysis, its major bearish trend. As shown, its has been broken from the continuation box, it will try to retrace into the box and touch to major Blue Trend line. It will test to 1.13792 and go down till minor support 1.13515. Comments ...

EURUSD only