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LEONES
Mar 6, 2015 10:20 AM

Gold bear trend Short

Gold Futures (Apr 2015)COMEX

Description

Gold bear trend has resumed in Feb15 and in now well established. Shorting at current market price (1193.0) and targeting 1150.0 (mid march 15)
Comments
LEONES
short gold hit the target today !
LEONES
Gold sell order triggered
look4edge
agree, got short from 1232, but i wonder how can you see that just in bars :)
tradingview.com/v/Gq74m6QZ/
LEONES
nice profit then! what do you mean by 'just in bars'?
look4edge
well, i see nothing else in your chart (except ema and AP), you must have good eyes then :)
LEONES
yes, got used now...I find indicators of little use. why did you enter at 1232?
look4edge
sending you pic, sry it is derived from current weekly picture and little messy...
anyway, 1308 was poc of previous downleg, strong supply area at retrace, then reaction to Jan NFP and subsequent break of 200dma and support 1232, entered at retest
now watching ema 13/34 daily cross and lower frame cci patterns
look4edge
and before that got slv short from 18.15 at dma200, dropped at 16.7
tradingview.com/v/uyLjNktL/
LEONES
interesting method. Do you always use 13/34 ema, 200dma and CCI ? how do you define the target now?
look4edge
yes, like cci because it reflects price behaviour, use slow cci for trend occurence, fast for timing, sth. like woodie system, but looking for their levels, patterns and divergencies as well, emas for pullbacks, cross for direction confirmation
now will check/exit support at 1150, longterm chart below, if downtrend can break it (what slow cci strongly suggests) then targets yearly S2 or ew targets at 1-3 ewline
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