LineKing
Long

Are metals starting to bottom? Gold might be.

COMEX:GC1!   GOLD FUTURES
54 5 0
A close above 1100 would complete a rounded bottom pattern and strongly suggest a LT             bottom in place.

Low risks long for this eventuality against TL and smaller TF fib retracements
ROAR - close important. Above 1100 preferred. Above closest TL essential. Interesting to see what happens to Gold in a confirmed risk-on environment. Continued equity strength + sustained break = jackpot. LT reversal wedge not tested until (currently) 1175
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Order placed @ 1069. Stop 1060
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LineKing LineKing
(Cash)
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LineKing LineKing
Looking for 3rd intraday corrective (C) wave (AB=CD @ 1068). Splitting order. 1/2 now @ 1074. Will look at PA before deciding next move. Bias for entry with bullish undertone with equity markets. Hard stop at 1060. Will cut quickly if unhappy with momo.

Silver mirroring.
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LineKing LineKing
Extended TL on above chart. Confluence of TLs and C wave corrective targets at 1070. Back to Plan A. In event of entry, will move stop to B/E/cut trade if in red before release of FOMC minutes
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