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GOLD-SILVER

Gold - The Tea Leaves Say: More Downside On Deck3.5% is a lot in gold, and that's about the range of the total landslide we've been through the entirety of August so far. It's the kind of pattern where goldbugs and USD collapse narrative nerds go long and go long or hodl and hodl but the price never goes up. In my last call on gold from the beginning of July, I warned that $2,000 was a death trap. That call was pretty successful, coming just a few dollars shy of the target, abeit it was because the next month's futures contract settled some 2% higher. Gold - $2,000 Is a Death Trap And with the index markets at large, I caution that Nasdaq not breaking 15,000 is actually a real bull trap QQQ - Is It Rally Time? Or Are You Too Early? With gold, geopolitical risks are heightened because Xi Jinping and the Chinese Communist Party he has yet to throw away bought a lot of gold, and at relatively high prices, according to media reports at least. And thus, because of this, a form of subtle on-the-low economic sanctions against Xi and/or the CCP can be to devalue the price of gold, which puts the central bank in a bind. And this is a real problem for China right now with all the other economic catastrophes that land one after another, and the flooding, and the instability, and the posturing of the International Rules Based Order about war/invasion via Taiwan. The CCP won't invade Taiwan. But China might get invaded by the IRBO via Taiwan. You might not believe it. But give it some sober thought. Tacticians are tacticians for a reason. Hitting from the shadows and blind spots is a real useful thing. But for Xi, he can always weaponize the 24-year persecution against Falun Dafa that was launched on July 20, 1999 by former Chairman Jiang Zemin against the entire world. Because the whole world has been going to Shanghai to train under the Jiang faction for economic and social benefits. Which means a lot of closet skeletons. Which means a lot of data dumps can serve as weapons delivered to international media in the future. Anyways, here's the call, friends. Gold is obviously going down and will go down farther. It really looks like it's seeking at least the short term lows, which means $1,900 is longzo-gonzo. And so on a dump from where we're at at time of posting to, say $1,850, you're getting 5% on a very safe short. You can short the hole. And 5% is a lot of money on gold. Probably only at $1,850 can we look for reversal longs towards new all time highs. But with how lethargic gold has been, we may very well just have seen the top on the re-run to $2,080.
COMEX:GC1!Short
by LordWrymouth
2
GOLD (XAUUSD): FOMC Ahead! Your Plan: 🥇 Today, we are expecting the FOMC minutes. Here is your plan to trade Gold. As you know, the market is currently approaching a key daily structure support. Analyzing the reaction of the price to that structure on a 4H time frame, I spotted a horizontal trading range. 1910 - 1912 is the upper boundary of the range. Bullish breakout of that - 4H candle close above, will be a strong bullish signal for you. I would suggest buying the market then, expecting a bullish continuation at least to 1923. Also, remember that the news can be bearish. In such a case, I would recommend staying away from the market. ❤️Please, support this video with like and comment!❤️
OANDA:XAUUSDLong
by VasilyTrader
3
Strifor || GBPUSD-08/08/2023Preferred direction: SELL Comment: The looking for shorts for the British continues. Previously, our ideas for sell for this currency pair worked out perfectly, you can also find them in the profile. The nearest target of the fall is 1.26989, from where sellers will develop downward movement. There is also a possibility of a false breakdown at the local resistance near the level of 1.27877. However, this is an unlikely scenario. Thank you for like and share your views!
Short
by Strifor
2
Weekend trade reportLast week we achieved the following results. 3% overall. The automatic trades did not do as well. The manual trades closed with profit. At the moment only this trade is open: Open Date Symbol Action Open Price SL (Price) 08.04.2023 15:02 EURCHF Buy 0.96149 0.95489 In the coming weeks, fewer trades will be introduced due to the holiday period. News that stood out this weekend: Container company AP Møller-Maersk is gloomy about the outlook of the global economy. The company expects global demand for containers to fall by 1 to 4 percent this year. Previously, the company expected a contraction of between 0.5% and 2.5%. The demand for containers is seen as a good indicator of the health of world trade. Maersk warns that a possible recession in the West and China's struggles since the pandemic will have an impact on container shipping in the second half of this year. Industrial companies are reluctant to purchase new stocks, which means there is less to ship. This will take place in the autumn at the fair. But with this news, the increase in metals will also increase again. Risks must be avoided. We will take a fixed position in gold or silver in the autumn where we will hedge our currency risks. Our rationale is supported by the FED meeting. In it, the fed governors stated that US interest rates may not yet reach their highest point, now that figures on the economy in the United States do not yet show a clear effect. Michelle Bowman, governor of the Federal Reserve, said this at a meeting in Kansas on Saturday. Last month, the Fed raised interest rates to an all-time high of 5.25%-5.50%, the highest level in 22 years. Since then, the question has been how the Fed will proceed. Fed boss Jerome Powell himself indicated that he would mainly look at the economic data in the coming period, before a choice is made. There may be a pause before interest rates are raised further. Governor Bowman added on Saturday that the recent lower inflation figures were positive, but she still wants to see "consistent evidence" that the price level is indeed on its way to the desired 2%. "I will also look for signs of lower consumer spending and signs that the labor market is becoming less tense." In addition to positions in metals, it will also be examined whether a position against the Dollar can be taken given the economic figures that will have a negative impact on the Dollar. As we started our holiday season, so did the news. For the coming week, these are the news items: Mon Aug 7 Tue Aug 8 Wed Aug 9 3:30 CNY CPI y/y -0.5% 0.0% 5:00 NZD Inflation Expectations q/q 2.79% Thu Aug 10 14:30 USD CPI m/m 0.2% 0.2% USD CPI y/y 3.3% 3.0% USD Core CPI m/m 0.2% 0.2% USD Unemployment Claims 231K 227K Fri Aug 11 8:00 GBP GDP m/m 0.2% -0.1% 14:30 USD Core PPI m/m 0.2% 0.1% USD PPI m/m 0.2% 0.1% 16:00 USD Prelim UoM Consumer Sentiment 71.7 71.6 Basically only Thursday and Friday news to keep an eye on. CPI and PPI.
PEPPERSTONE:XAGUSD
by Probeleg
Key Levels and US Market Review for the Asian session open 3/08US and European markets came under fire and took a hit in a risk off move after US credit was downgraded. Traders and investors are looking at the bigger picture now as a lack of confidence into the US government as they distract themselves from the bigger picture of actually managing the economy. With a safe haven move up into the USD and and unwind into an extended share market, we could see this move down gather some momentum especially if US employment does not come out positive on Friday. Expecting a weak open in Asia with the ASX200 to open down 60 pts, the Nikkei to open down over 300 pts and Hang Seng to open down 130 pts. Traders will be keeping an eye on coming employment data in the US Friday and whether the negative sentiment over the US credit downgrade gathers momentum. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper ** If you like the content then take a look at my WEBSITE in the profile to get more daily ideas and learning material ** ** Comments and likes are greatly appreciated. **
NYMEX:CL1!
by TradeTheStructure
xauusd 4hours best level to short/hold TP 1940 usd🔸Hello traders, today let's review the 4 hour chart for gold. Strong push off the lows recently, however currently getting overbought / almost ready for a pullback. 🔸Heavy overhead resistance near 1980 usd is the best spot for the short sellers / bears. Expecting final pop short-term to re-test resistance near 1980 usd. 🔸recommended strategy bears: wait for the final pump and get ready to short from overhead resistance near 1980 USD. stop loss fixed at 2000 USD. TP bears is 1940 usd. this is a swing trade setup for patient traders. good luck! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
OANDA:XAUUSDShort
by ProjectSyndicate
36
Gold - $2,000 Is a Death TrapThis is a follow up to my June 2 call for a new ATH on Gold, that will be bearish, instead of bullish: Gold - When A New ATH Prints, Will You Get Trapped? In the process of tracking this, price action did not meet expectations (in the sense that it has not traded low enough), and so I began to reconsider the overall topography of the market. Also, right now, I have an open call on silver for $33: Silver - 33 Moons However, as price has not traded down the levels I regard as requisite to trigger a bull impulse, while I still believe that these high prices will manifest in the future, the market makers desire lower prices first. One thing to note about gold is both the monthly and weekly bars are actually bearish despite price having formed a long-term triple top: But in the shorter term (1H-4H-1D) candles, gold is clearly heading towards higher prices after bouncing exactly over $1,900. As I've said before, one of the problems with a metals bull market right now is that Xi Jinping and the Chinese government (the Chinese Communist Party) have amassed a large amount of gold in recent months. China's economy is doing extremely poorly following the decimation of the Party by Wuhan Pneumonia and the CCP faces threats on all sides, especially from the International Rules Based Order who now chatters about "de-risking" from China. Since the United States tends to be the market maker of everything, this is trouble for China's central bank. Large stocks of gold and a heavily declining price will put the regime in a great deal of trouble, depleting the money it has available for buying people off. And this is a huge geopolitical threat, for Xi Jinping has one Trump card to play: throw away the CCP in the middle of Beijing time, which is the U.S. night, and weaponize the 24-year-long persecution and genocide against Falun Dafa (Falun Gong) meditation, which was launched by Jiang Zemin and its band of toad cronies in Shanghai. Another thing to note is since the pandemic crash, BUT BEFORE 2022, gold has had something of an inverse covariance with the SPX and the SPX has an inverse covariance with the USD. But after 2022, gold has traded mostly in lockstep with the SPX, although in recent days and weeks that has begun to decouple. Looking at the daily covariance, gold and the USD have an inverse covariance with the overextended equities market: And I anticipate a USD rally, as I state here: DXY - The US Petrdollar And The "Prigozhin Coup" In Russia Since I believe what the market makers have in store for us is a significant downtrend in the equities market until September: SPX/ES - An Analysis Of The 'JPM Collar' Gold setting a new high right now doesn't make sense. And so what I believe will happen is the target for the algorithm right now is $2,030, and it amounts to a short squeeze/bull trap. This will both take out the June high and draw in buyside demand over the $2,000 level, since retail goldbugs are always pining for a new all time high. But the rally will fail, again, and the markets at large will fail again (except for Natural Gas). Natural Gas - The Girl Who Hopes You Remember Her And as the rally fails we'll see lower prices. Probably ending in the $1,800 range. This amounts to a 10%~ drop and is pretty painful if you're sitting leveraged long and even worse if you're leveraged on call options. If $1,800 is violated, then the top is probably already in, in my opinion. So, be careful and make sure you practice social distancing from atheism, Marxist-Leninism, the Theory of Evolution, QAnon, and the CCP itself. Long gold is about returning to tradition, and mankind's Heaven sent traditions are even more luminous than an entire vault of 100.00% pure AU.
COMEX:GC1!Short
by LordWrymouth
1
Strifor || USDJPY-07/28/2023Preferred direction: SELL Comment: A busy week for the Japanese yen, which so far closes the USDJPY pair in the red zone at the end of the week. Earlier, we were just counting on a fall, trading ideas that were fully worked out in a plus. At the moment, the instrument is trying to re-test the level of 138.667 as part of the medium-term movement. The SELL-priority for the currency pair remains. A drop to 137 is expected, and the price will go lower. Thank you for like and share your views!
Short
by Strifor
2