Gold & Silver Hammer on the back of USD weakness!!

2024年8月20日

https://www.tradingview.com/x/SMjNSpDW/

Wow, incredible strength in Gold price right now. Will a correction occur? I no longer know. I am staying long for the medium term.

2024年8月20日

交易進行

Gold / Silver & Precious Metals very bullish during Tuesday trading so far.

Here is Gold's chart. It all looks bullishly healthy with occasional pullback on lowertime frame & then retests the highs. There is no topping formations on any timeframes that I can speak of.

2024年8月20日

交易進行

2024年8月20日

交易進行

Gold price is looking healthy Long, still.

A nice uptick in volume the last 30 minutes.

2024年8月20日

交易進行

The gold price just had a big liquidity run downwards to take out some Longs. Price is down around the 20ema on the 1HR chart. Things turn a little bearish when price forms up under the 50 ema on the 1hr.
* Trading is risky. Don't rely solely on my financial advice.

2024年8月20日

交易進行

2500 is a strong support level for the gold price. There is plenty of previous price orders there... buy order blocks. Whatever this is, it's a temporary correction.

2024年8月20日

註釋

A small buy order in gold, selling seems to have settled. Don't bet too much in case the selling resumes. There is an alignment on the 5m and 15m oversold indicators ticking upwards right now.

2024年8月20日

交易進行

The price volatility has settled for now & that is a good thing. I would say the Gold price will park down in these green-buy-order blocks like a rocket landing slowly & then a move upwards can be made.

2024年8月20日

手動結束交易

Caution on trading Silver for the next day or 2.... this chart explains why? Negative hidden divergence on the Daily for Silver. It explains why the Silver price has gone to sleep. I want to see a sustained push up in price or there could be some red-seas for Silver tomorrow.

2024年8月20日

註釋

XAGJPY Silver is also very bearish on the Daily timeframe due to Hidden Stochastic Divergence. I am short on both.