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John Reade
@JReade_WGC
, 7 tweets, 5 min read Read on Twitter
Gold: Steady at the start of the week and trading around $1427/oz.

#Gold had a volatile week but posted some decent gains despite trading down to $1400/oz on Wednesday 17th July.
The robots from Bloomberg, @business, report inflows of 224koz yesterday into physical #gold-backed ETFs for Friday.
@business Our own, more comprehensive database, shows mtd #gold flows dominated by US-listed funds, a change from the early part of the year when European funds saw the lion's share.
@business COTR data was released on Friday but showed little change. The net speculative long #gold position remains elevated and essentially unchanged on the week.
@business In the week ahead, we see US durable goods data on Thursday and the first estimate of Q2 GDP on Friday.

I’m out of the office for the rest of the month from Thursday, so I’ll miss the keenly awaited FOMC at the end of the month.

#Gold may mark time a little ahead of that.
As ever, my colleagues will keep you updated on #Goldhub and its #blog

Best of luck
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More from @JReade_WGC see all

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John Reade
@JReade_WGC
Gold: Back in the office after a sojourn in Barcelona (and no hard feelings about the run in with the police at all, honest), gold had a good time of it while I was away, breaking higher in Wednesday’s US trading and making gains every day since then.

Currently $1407/oz
Updating my re-indexed chart of #gold in some important currencies, I’ve had to extend the Y axis to account for last week’s performance, which is always good to see.

Note that #gold in US dollars continues to lag the performance in other currencies since May last year.
Buying via the Comex futures market has been part of this move, although its worth noting that the COTR chart below is as of Tuesday - before #gold broke higher.
Read 9 tweets
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John Reade
@JReade_WGC
Gold: At $1326.50 in early European trading on Monday, #gold is some $20+ off Friday's intraday high.
I think it's fair to say that this is one reason why #gold is lower today (although I'd also argue that trading on presidential pronouncements is a dangerous game).
Gold: But this is another contributing factor - the change in Managed Money #gold futures positions reported by the CFTC for the week to 4 June (i.e. last Tuesday).
Read 9 tweets
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John Reade
@JReade_WGC
After spending the preceding month around $1285/oz, #gold has moved quickly higher since 31 May, currently trading around $1322/oz after approaching $1330/oz earlier today.
And this strength is not just a USD denominated #gold phenomenon: gold’s been strong in other currencies too, as this chart shows.
Inflows into #gold ETFs have also been noted, particularly yesterday, when 609koz of gold flowed into global ETFs according to Bloomberg, the biggest one-day inflow since Boxing Day 2018.
Read 12 tweets

Related threads

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David Fickling
@davidfickling
Gather round, #gold bugs, while I tell the story of how a $13 trillion pile of negative-yield sovereign debt explains the recent surge in bullion prices (thread):

bloomberg.com/opinion/articl…
The very idea of negative-yield debt feels a bit Through-The-Looking-Glass. You're supposed to *earn* money from lending cash, not *spend* money for the privilege of doing so.

And yet from zero five years ago, negative-yield debt now accounts for almost 40% of government bonds:
The value has risen particularly fast in the past month -- roughly $2 trillion, of which $1 trillion has happened since the start of last week.
Read 20 tweets
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HMK alias MANOJ
@scorpiomanojFRM
#TRADING Intraday - #INERTIAMETHOD Inertia - A property of matter by which it continues in its existing state of rest or uniform motion in a straight line, unless that state is changed by an external force. This is the law of physics.
Inertia method applies this law of physics for selecting stocks for intraday trading the next day. Stocks that are in motion are selected with the assumption that it might continue the motion (uniform motion).
Method -
Select stocks that satisfy the following conditions - To be done at EOD
a) Stocks with latest daily range greater than 1.25 times of 10 day Average daily range AND
b) Stocks with latest body size of the candle consuming 75% of the daily range.
Read 8 tweets
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HMK alias MANOJ
@scorpiomanojFRM
#TRADING INTRADAY HTF_SR method Another Eg. #BATAINDIA daily / 1hr /5 min - Conclusion - Key level to watch out for 1363-1365; if price action bearish at this point, shorting suggested with stop of 1370; if price action bullish at this point, long suggested above 1365...…...
for a quick scalp till 1375; however above 1365 advised to wait to see how it reacts to the 1375 resistance line; if an bearish price action happens here, short suggested around 1370-1375 with stop of 1385; if price breaches 1380-1385.....
long suggested with stop of 1370. Try practicing this in as many charts as possible to get a hold of this method "Higher Time Frame Support and Resistance method" (HTF_SR). With proper risk management and defined rules, you can see vast improvement of your performance.
Read 3 tweets
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HMK alias MANOJ
@scorpiomanojFRM
#TRADING Intraday - A very simple intraday trading method; No sophisticated systems / pivots / fibbonaci / indicators / EW..... etc ; This is being followed by sum of the successful intraday traders in the world and even in our markets too. The following are the steps:
NOTE; THE LEVELS ARE NOT RECOMMENDATIONS FOR NEXT DAYS TRADE. THEY ARE USED TO EXPLAIN THE CONCEPTS.
1) Open Daily Chart, say for eg.,Nifty.
2) Identify nearest support and resistance from the latest close. Mark horizontal lines (for eg, blue).
3) Now go to 1 hr chart.
4) Identify nearest support and resistance from the latest close. Mark horizontal lines with different colors (for eg., black). If S & R of 1 hr tf is same as daily tf, identify the next visible S & R in 1hr tf and mark accordingly.
Read 10 tweets
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HMK alias MANOJ
@scorpiomanojFRM
#TRADING Intraday Trading Setup 2 : Pivot - VWAP setup
1) Time frame 5 min
2) Plot Camarilla Pivot H3 / S3 and Floor pivot range (Central pivot, upper and lower pivot).
3) Plot VWAP.
4) Plot 8/21/34 Pivot emas.
5) Long conditions - VWAP should cross both Cam H3 and Upper floor pivot.
6) Entry at a bullish candle at the point of previous candle high post first pull back in between 8 and 21 pivot ema or VWAP.
7) Stop at 34 pivot ema or VWAP. Position size varies accordingly.
Advantages of this setup :
You are in the trade after confirming the direction of the average market participants which is assessed by VWAP / Pivot combination.
This setup captures the move predominantly at the early part of the day.
Read 6 tweets
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HMK alias MANOJ
@scorpiomanojFRM
#TRADING
Is it possible to earn above average returns in intraday? Answer is POSSIBLE , at least mathematically .

Suppose the trading capital is Rs 1,00,000.
Risk appetite per day is assumed at 3% on the trading capital, which is Rs 3000.....
...... Risk Reward accepted is min 1:2 ie you take a trade only if you get 1:2 RR.
Assuming you take 5 trades per day. Hence risk per trade is Rs 600. Reward per day is Rs 1200.
So, per month the total no. of trades will be around 100 assuming 20 working days per month.....
..... Scenario 1: At a success rate of 50%, no. of profitable trades is 50 and no. of loss making trades is 50 per month.
Hence, profit amount is 50 x 1200 = Rs 60,000 per month; similarly loss amount is 50 x 600 = Rs 30,000 per month.
Net pnl = Rs 30,000.
Retn per annum = 360%.
Read 6 tweets

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