In recent days XAUUSD dropped below 1800 USD towards it short term support around 1785 USD. Since then it rebounded little bit and it currently trades around 1795 USD. In the big picture we are still very bullish on gold. Especially in medium-term and long-term. Although, XAUUSD failed to break above its short-term resistance and travel through its confirmation...
All the PMs but especially Silver is a Major SHORT here, with a Low-risk Entry!
A Bullish G/S and a likely USD reversal here - even if potentially limited in scope - should underpin a substantial decline in all the metals, from these levels.
Charts like this are no help, either! (Stock market forced liquidations have a tendency to spare nothing and no one,...
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Following because of USD holdings and USD denominated assets - including assets negatively correlated to the USD - like gold.
USD held as a hedge against weaker local currency and against gold positions.
Whatever your personal belief on Elliot Wave, I am not imagining a very clear 5 waves down (labelled (i) to (v), since the march 2020 high....
XAUXAG ratio has reached the support line running from 2011 which has now turned into resistance and bounced back strongly. Our research team expects a bounce in the precious metals market and short term price target for the ratio is 75.
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Short-term short view (not shorting), then long again.
I can't see a very good reason for a gold correction other than;
- Everything needs to correct - it's never a straight-line move,
- It is possible that big banks (possibly even the Custodians for major gold ETFs) are being forced to sell-off reserve assets to cover losses or to put aside...
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Initially posted in 2019.
I was a buyer of silver bullion since silver crossed the 80 mark. That included adding significantly to the holdings during the steep drop earlier in the year.
It hasn't always been a comfortable trade, but it has worked out rather well to date.
What I expect next is, despite continuing tail-winds for bullion, the...
Which trend can you follow "Daily"
Price sometimes moves independently from 'time'.
Look at trends and mark those in "Renko" bricks.
Then use your candle charts to trade interday moves knowing the TREND!
Watch the Gold/Silver ratio
TRADING GUIDE use DAILY trends to plan buy/sell orders...
GOLD-SILVER RATIO TREND GOLD AND SILVER...
No moves until new or Markets post big declines.
Good Tranes for selling IC's or Credit Spreadts
-Sell Put Spreadfs at dips and sell call spreads on peaks
Watch for BIG moves up with any bad news or down market days. No rush to get in till after 9am market moves settle.
If you have access try futures on /SILU0 and /MGCZ0 as good buys at bottoms.
This ratio will help you to forecast XauUsd & XagUsd. When you forecast gold and silver next moves also use this ratio as an indicator. Currently this ratio is bearish, but expect some correction soon. Bearish ratio means XauUsd has more weakness than XagUsd, and vice versa.
I don't know how many of you speculate on the Gold/ Silver ratio but I do. And I have come across an interesting pattern in 2008 during the Subprime Mortgage Crises that may be repeated now during the COVID crisis.
As you see on the chart, the LMACD is the key indicator on it, and it has topped at 0.069. At the same time the price action is very similar with 2008...