Metals are hard commodities that are mined or extracted. They can be further divided in precious metals like Gold, Silver and Platinum and high-demand base metals like Copper, Aluminium and Zinc. Precious metals tend to move together in price and their unit of trade is the troy ounce. Gold has a number of industrial applications, functions as a safe-haven for currency speculators in times of uncertainty and can be used as a hedge against inflation.
Base metals are essential to industrial processes and are traded in metric tons. They are a leading indicator signalling economic growth or weakness. The strong demand from China's infrastructure and construction sectors is the main driver of global base metal consumption. Production cuts or increases and fluctuations in global inventories further influence their price. Metals are mostly traded through futures contracts, to speculate on price movements. The most popular custom chat is the Gold room where traders talk in real-time about where Gold is going.
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
This will be my views of Gold for July 2018
Please make sure to read the "update" comment as there will be changes along the way.
Cheers.
S0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities ...
Looking at the daily chart for gold, we can see that, like silver, it has also double bottomed. It is currently finding support on a historical trend line. The two previous bounces off this support were very strong. MACD is showing support and the RSI indicating oversold, everything to me is saying buy!
Hello guys,
gold seems like it did hit an important level!
We can see it did it the weekly bollinger band + BAT PATTERN and we can see a strong supply & demand area!
Trade with care,
don't be greedy!
PC
Looking at the daily chart for silver, we can see the price action has formed a double bottom. You can also see a slight falling wedge near completion, which is also a bullish indicator. With support on the MACD and RSI, silver is a strong buy at this price.
Hi All,
It's in all the chart - xauusd.
Please tell me what you all think.
Up Trend: Impulse. Down Trend: Correction.
All wave Patterns are impulse or correction.
Sideway: Except for moving horizontally.
Retracement: Price hit Support, Reversal Period,
Stop Loss: 60/40 Split.
Resistance: Price Falls below Previous Support Level .
Only trade when you see ...
Bearish momentum has guided the XAU/USD exchange rate since last Monday. The yellow metal failed to pick up momentum during this time, as it was restricted by the 55-hour SMA. The given line was breached early in the morning, thus pointing to possible appreciation.
It is likely that bulls dominate the market during the following hours. However, gains might not be ...
4H AO cross has not happened yet and there is bar divergence on that time frame so this must be kept in mind. I will be looking to move to breakeven quickly and perhaps even take profit at the target but that has not been decided yet. The overall trend is bearish but this may be a short term trade before the larger correction and final 4H continuation trade. Stay ...
Hey guys, here you have the levels for Monday. Looking at the chart we have the market making a double top, i think that 7414 and 7367 are going to be key levels for tomorrow, but as always those are reference levels, i will take the trade only if everything is in line with my trading plan.
Please keep in mind that these are not trading signals, use your own ...
Gold – XAU/USD – Trade Idea
During the ending hours of the Asian session, we opened a buying signal above $1,243 with a stop below $1,240 and a target of $1,247. Good luck!
Platinum is moving to a key level where we can open Long
2 weeks ago the price made fake broke at key level $810 and D1 close upper it. That showed to us that big players have an interest in buying.
Currency rate is making pull beak down.
I recommend opening Long near: $810
S/L under low $796
T/ P1: $1010
S/L: $1147
It is deal for long-term traders. If ...
Previous position has been brought to breakeven. This set-up is actually based on the 5M chart so I will be active in managing this, but it is in line with all of my thoughts and provides a great reward:risk.
Silver has not only left the negative trend channel to the bottom but also has had a bearish engulfing (2018-07-13) just after having a small recovering.
There is a new support line, parallel to the existing trend channel and this should not be broken.
RSI is in bearish zone, the trend shows a sideways move.
MACD is clearly negative.
To give new bullish signals ...
