GOLD expecting an uptrend
Updated
This trade is for the options traders out there. We have a breakout of the falling wedge and the rsi is coming out of oversold. Expecting bearish sentiment on the S&P in the near term and gold to perform well in the meantime. I will be accumulating March 20 20 18$ calls which are currently priced at .78-.79. I will be holding these calls through the market correction until GOLD starts giving sell signals.
Note
I was unable to get the entry I was hoping for but will look for an entry on this pullback. Hoping to still get some of the calls close to .80Note
This is a good time to re accumulate March calls
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.