Gold Silver view 12-20-2024

In Comex GOLD at 2615$ 

Silver at 29.2$ 

Gold taking support of moving avg and picking up

Volumes 

Near hurdle at 2623$ 

Silver talking support ar 28.8$ 

In mCx silver at 87700

Forming a hammer pattern in daily chart ( waiting to close) 

Upside view above 88500 

In gold above 76500 

Structure are looking strong 

Bottom fishing also good idea here 

If comfortable with the VolEtility then time to buy gold and silver here 

Silver can show 2000-3000 points bounce back from here 

View Looking at technicals

Trading Psychology

Trading is deeply psychological, and success often requires managing emotions that can be triggered by volatile market conditions. Here are some vivid examples illustrating the psychological battles traders face:

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1. Fear of Missing Out (FOMO)

Scenario: A trader watches a market skyrocket in minutes. They didn’t enter the trade, but they see massive profits slipping through their fingers. Overcome with FOMO, they enter the trade late, just before the market reverses.

Psychological Battle: The urge to act impulsively rather than sticking to a strategy. The trader learns that patience is key, even if it feels isolating to stay on the sidelines when others seem to be profiting.

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2. Holding on to Losers

Scenario: A trader buys a stock, and it starts dropping. Instead of cutting losses at their predetermined stop-loss, they hold on, hoping it will recover. They refuse to admit they were wrong, and the losses grow.

Psychological Battle: The fight against ego and denial. A disciplined trader understands the importance of humility, which requires confronting uncomfortable truths alone.

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3. Overtrading After a Loss

Scenario: After a significant loss, a trader feels frustrated and desperate to recover quickly. They place multiple trades without proper analysis, leading to further losses.

Psychological Battle: Emotional revenge trading. The trader must learn to walk away and calm their mind, which can feel lonely when others continue trading.

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4. Greed After Wins

Scenario: A trader makes three consecutive winning trades and begins to feel invincible. Believing they can’t lose, they increase their position size significantly on the next trade, only to wipe out all their previous gains.

Psychological Battle: Fighting the illusion of control and overconfidence. Successful traders often retreat to reassess, which can feel isolating as they deliberately slow down while others rush ahead.

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5. External Pressure from Peers or Family

Scenario: A trader shares their trades with friends or family, and their opinions create self-doubt. If a trade fails, they feel judged and second-guess their process.

Psychological Battle: Trading requires independence of thought. The trader learns that true confidence comes from within, not from external validation.

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6. Dealing with Boredom

Scenario: Markets are slow, and there are no clear setups. A trader feels restless and enters a low-probability trade just to “do something,” resulting in unnecessary losses.

Psychological Battle: Embracing inactivity. This loneliness stems from knowing that sometimes doing nothing is the best move, even when others are constantly active.

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7. Journaling and Reflection

Scenario: After a losing streak, a trader spends hours analyzing their mistakes and reviewing their trading plan, while others focus on the excitement of trading itself.

Psychological Battle: The quiet discipline of self-improvement. Growth often comes from solitary reflection, away from the noise of the market.

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Conclusion

Successful traders embrace the loneliness of the process. They understand that self-control, discipline, and emotional resilience are developed in solitude. Trading isn’t just about beating the market—it’s about conquering oneself

Commodities #silver #Gold

Commodities not sustaining, 

Silver break 88000 level , which is crucial for longs 

But comex continuously sell side 

Also comex breakdown 

Looking at charts silver fall can continued till 83000-80000 

Fall will be sharper as volumes are high 

IF YOU ARE STUCK WHICH MOST LIKELY THEN , 

Then small lots are good here to Hedge so loss will be in control 

Expiry also near so Trade in next contract 

Analysis failed this time 

Always Remember silver selloff are very sharp won't give chance to think 

Looking at Gold ,

Similar view , but won't get entry or stoploss 

Possible to fall 70000 level 

Cmp 73600 

Base metals are also in selloff

COMMODITY PSYCHOLOGY

Commodity Psychology  

open above video to know about trading Psychology and more things about trading 

gold & silver view , 16th August

Gold breaking out above 2480$ 

Amid rate cut possibilities in September 

While silver not moving and underperforming here 

US market is in rally yesterday both Dow & Nasdaq move 2-2.5% 

If gold sustain above 2480$ then 40-60$ move can be shown upside in next week

VIEWS ON SILVER AFTER IMPORT DUTY REDUCTION

 VIEWS ON SILVER 

SO AS We See The Fall After Custom duty Reduced By 6% in Both GOLD & SILVER 

So Lets Understand HOW TECHNICAL STRUCTURE Are Looking Right Now & What can be Possible Here for Next Few Days 

so lets see how charts are looking at this point of time and what we are the possibility 

SILVER - lets first talk about the Silver Comex 

weekly charts view as we see from May onwards SILVER  Moving in a range of 26$ to 32$

and from may 1st to 20th may it rallied 20-21%  upside 

and again after 20th may it slumps to 29$ 

and from 26th june it started rallying and made 31.5$ high on 10th July 

and before Budget we can see a slight sell off if you look at the chart and then in budget import duty reduced and now we are here at 

28$ (budget impacted only MCX prices)

so if you can understand the technical then you can see the pattern on upside & downside on this chart 

so lets come to the point 

MAJOR SUPPORT HERE IN SILVER COMEX ARE 27.5$ AND 26$ (which is MULTIYEAR SUPPORT) 

BIASED VIEW LOOKING AT TEACHNICALS IS SELL SIDE 

NOW Lets talk about SILVER MCX here 

So Right Now What we should looking is comex prices movement because after import duty reduction mcx levels wonts make any significance here 

but still here ARE SOME MAJOR SUPPORT in SILVER MCX AT 80000 & 78000(very important support for bulls to hold ) 

VIEWS ON GOLD AFTER CUSTOM DUTY REDUCTION

 VIEWS ON GOLD 

SO AS We See The Fall After Custom duty Reduced By 6% in Both GOLD & SILVER 

So Lets Understand HOW TECHNICAL STRUCTURE Are Looking Right Now & What can be Possible Move Here for Next Few Days 

As I Always Mentioned That Following A System Is More Important Rather Then Assuming & Take Assumption About the Markets

Because No Matter How We look at News-Data-Technicals

Ultimately Our Position Sizing Decides The Outcome of Our Trading In These Asset Class 

And If You Stuck At This Time Then Your Margin Money & Temperament Will decide Either You Are Going Hold Position or Book Losses 

So Lets See How Charts Are Looking at this point of time and what we are the possibilities 

GOLD - lets first talk about the Gold Comex 

weekly charts view as we see from May onwards Gold Moving in a range of 2285$ to 2450$ 

and from may 1st to 20th may it rallied 7% upside from 2285$ to 2450$

and again after 20th may it slumps to 2285$ till 10th of June 

10th June to 26th June gold move between 2300$ to 2360$ 

and from 26th June it started rallying and made 2483$ high on 17th July 

and before Budget we can see a slight sell off if you look at the chart and then in budget import duty reduced and now we are here at 

2375$ (budget impacted only MCX prices)

So If you can understand the Technical then you can see the pattern on upside & downside on this chart 

so lets come to the point 

MAJOR SUPPORT HERE IN GOLD COMEX ARE 2360$-- 2340$--- And Finally 2290$ and if 2290$ break then we see 2200$ levels also (will discuss this in upcoming blog)

BIASED VIEW LOOKING AT TEACHNICALS IS SELL SIDE 

NOW Lets talk about GOLD MCX here 

So Right now what we should looking is Comex prices movement because after import duty reduction mcx levels wonts make any significance here 

but still here ARE SOME MAJOR SUPPORT , GOLD AT 67830 RIGHT NOW 

GOLD MCX - MAJOR SUPPORT ZONE 66250--65400 & 64000 (65400 WILL BE IMPORTNAT SUPPORT ZONE IN MY OPINION)

SILVER VIEW 👉open