LEONES
Long

Gold bottom ?

COMEX:GCJ2013   GOLD FUTURES
413 32 1
April Gold             - Trend is down but in the last five days gold             has been consolidating within 1565 - 1585 range. This could be an area of temp support. Breakout from this pattern is going to push the price up to the next resistance (1620) and towards the down-sloping parallel line. Risk / Reward = 1.85 not bad.
ozatrading
3 years ago
that is a good support, but in a long term it is down. the inside candle from 02/27 can be an indicator to lower prices and plus it does look like a descending triangle...so I am expecting short...to many sellers at 1574 level. they were building almost for a week now... would like to get contracts and see prices higher to go short actually...Might be for a short period 1-2 days it might work....but over all is down...might work. lets see! good job leones!
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LEONES PRO ozatrading
3 years ago
Where is the triangle, I don't see it and why do you think that an inside bar is an indicator of lower prices, col be the opposite. How do you know sellers a biulding
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ozatrading
3 years ago
1579.7 and 1580 sellers A BIG here..if it would not get upper..i would look short.
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LEONES PRO ozatrading
3 years ago
this is a short term trade, i agree the trend is down
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LEONES PRO LEONES
3 years ago
compare also with silver and you will find more reasons for a long now
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Will US jobs report be the trigger? I believe they will come in-line or lower than expected.
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LEONES PRO QuantitativeExhaustion
3 years ago
yes maybe good point
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The thinking here is US Federal Reserve will continue QE through 2014-15. We also have China industrial production numbers coming out later in the day. IF US in-line or worse than expected and China industrial numbers growing, both will trigger gold/silver much much higher
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The thinking here is US Federal Reserve will continue QE through 2014-15. We also have China industrial production numbers coming out later in the day. IF US in-line or worse than expected and China industrial numbers growing, both will trigger gold/silver much much higher
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LEONES PRO QuantitativeExhaustion
3 years ago
yes thank you, real economic doesn't seem picking up...i need to have a look at copper too, nice flag there..
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I see that flag, very good. How about coal, still have a move lower before correcting?
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LEONES PRO QuantitativeExhaustion
3 years ago
never traded coal
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snapshot


Another drop
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LEONES PRO QuantitativeExhaustion
3 years ago
interesting
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LEONES PRO LEONES
3 years ago
at what time is the chinese report, i might place an order there
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http://www.fxstreet.com/fundamental/economic-calendar/
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LEONES PRO QuantitativeExhaustion
3 years ago
thank you, interesting, i normally use the cme one, this one looks good
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If we are counting waves. Coal has the biggest super 5 wave (most likely extended) coming over the years.
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LEONES PRO QuantitativeExhaustion
3 years ago
i'll have a look, good volumes?
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volumes... nothing like gold or silver. but Coal companies are flying today. should have went for coal rather than pm's
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LEONES PRO QuantitativeExhaustion
3 years ago
can 't even see the daily chart, really small volumes
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I'd go with coal companies instead
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LEONES PRO QuantitativeExhaustion
3 years ago
why are they flying today if coal dropped?
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LEONES PRO QuantitativeExhaustion
3 years ago
could be a good idea, long term investment
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yeah .. took a look and you are right coal is down and coal companies are up.  
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Numbers are out.... 7.7% .. beat by a lot
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LEONES PRO QuantitativeExhaustion
3 years ago
what 7.7%?
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US unemployment 7.7 from 7.9 .. bearish for gold/silver

However, much of that was priced in
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LEONES PRO QuantitativeExhaustion
3 years ago
ye, seems so, turning higher now i think it is a bottom
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should hit your target early next week.. gj!
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LEONES PRO
3 years ago
Target almost reached! I take the profit
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