Get started

GLD

Gold looking for 1800Gold prices had (as expected to clip above 2000) reached 2089 and rolled over. Previously mentioned that Gold was looking for a lower low in the 1H chart, and it happened, breaking down past 1950. This also broke down below the 55EMA. It now has a clear lower high, and is aiming for a lower low on the 4H chart; retesting 1950 and likely to fail soon to go down below 1930. This would see a downside target of 1800. Note the dim yellow arrows in the background which were drawn earlier in March to map out a predictive positioning of gold...
COMEX:GC1!
by Auguraltrader
4
GLD medium term target 204As previously suggested, GLD touched 194 before correcting down to 178-181 gapfill, which has completed as of Aug 12th. Now a bull flag has formed, 180 needs to hold for original bull thesis, with GP_C2 zone 179-180 being support. Bulls would want a decisive break out above the falling resistance as a confirmation for next attack towards 200. A couple of inside bars in the next sessions to consolidate between 182-185 would be ideal. Looking for a measured move to 204.8 in the next few weeks. Current position: LONG Disclaimer: These should be seen as the commentator's Notes to Self. Hopefully educational but aiming for entertaining. No legal or financial liabilities should be pursued from these materials.
AMEX:GLDLong
by cicizzyu
DXY, Gold, Silver and Channels. Wait it out.For those concerned about $GLD $IAU $SLV going up long term, look at this as a multi-day/week event. It will go up, but it likely needs to pull back more first. It's not news/media that's pushing this down, but rather simple mathematical Fibonacci trends and channels that are following through. $DXY (the US dollar) will continue to rise until it either hits the top of its trend line or the edge of the channel. Gold ($XAUUSD) and silver ($XAGUSD) will continue to fall until it does. Sure, there will be micro-ups... but my personal recommendation is to wait until Gold gets to the bottom of the channel, and DXY gets to the top. I'm not a professional or an analyst by any stretch of the imagination. This is just what I see right now.
OANDA:XAUUSDLong
by rmajoran
Long Turkey: An Alternative to “Short” GoldTurkey is in (continued) currency crisis. CBRT (Cent Bank Repub Turkey) has allegedly run dry of its FX reserves to prop up the lira, which has has been hitting all time record lows vs USD & EUR. As USDTRY broke through the psychological 7 level (and doing so against a weakening dollar at that) in July, CBRT more or less threw in the towel in defending the peg, and began buying up gold. So much so that Turkey overtook Russia as the largest buyer of gold in the world - obviously contributing to gold’s run through prev all time highs, $2k and beyond. As CBRT bought gold at a seemingly price indiscriminate pace, Turkish citizens holding lira and seeing their purchasing power get eroded away by the day and facing double digit inflation moved their assets in to anything other than the lira to preserve value - such at BTC. Unlike BTCUSD, BTCEUR, BTCJPY etc, BTCTRY is at all time record highs for this reason, and BTC’s July-Aug rally has also been supported by this reason. The lira meltdown and horrendous monetary policy mismanagement has also obviously been killing the Istanbul stock market, as well as US listed Turkey ETF TUR. Late last week, CBRT finally took steps to tighten credit conditions to local banks - and although nowhere near a sufficient solution, it put a temporary halt on the sell Lira → buy gold, silver, bitcoin, dollars, yen trend, and reversed its sentiment. And when the largest buyer of gold in the world stops buying after pushing prices to all time highs, gold falls, and when gold falls from all time highs, profit taking from record GLD inflows takes hold. Though I bought puts on gold last week in light of developments in Turkey (which NOBODY is discussing, and therefore perfect - let consensus overlook and talk the usual nonsense explanations for market behavior), I’m not going to short gold on a temp pullback, any more so than I would short BTC for a near term downside view within a longer term bull view. Instead, play the reversal by going long TUR. Buy (very cheap) calls for immediate term upside recovery, which for the time being should move inverse to gold. Keep a very close eye on USDTRY breaking above 7.4 or below 7. And note the CBRT policy meeting later this month (Aug 20) for a potential inflection point for current trend to reverse again, and gold to continue upside.
NASDAQ:TURShort
by acrossthespread
19
Could Gold be headed for a double top? Gold could form a double top like it did in early March before heading lower and hit the .618 Fib target of low 1700. This is a short term move so you could play this with GLD Aug 28th calls with: Stop at GLD below 178.5. First Target 190 (gap fill) Second Target 194.5 (double top) If that plays out, the next move down would be even bigger! It would then be followed by a very bullish trend for gold even bigger again and for the longer term! Miners could also be an option for this play but in March, although Miners did go up, they did not rise to their February top (see blue line). So I prefer GLD for this setup. Disclaimer: The above is not an investment advice. It is merely an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!
COMEX:GC1!Long
by adventurous51
All Time HIGH! Things you can do instead of shorting SPYThis craze could go on for a little while. who knows when the reality will catch up with the stock market, In the meantime, you can position yourself for a couple of potential explosive moves. - Long bonds, they are declining today, could be a good entry price soon? No need for an idea here, just look at the March TLT chart. - Long USD (see related story) - Long Gold before the big drop (see related story, to be followed by bullish trend. This one has worked out faster than I thought! I am up 33% on a position I took today) Disclaimer: The above is not an investment advice. It is merely an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!
AMEX:SPY
by adventurous51
Sorry peeps, Gold got clobbered not glittered...Just a couple of days ago, Gold hit a high of 2089, and then it appeared to have capitulated for a short and brief period below 1900. This has very deep technical implications and I was asked if I would see gold at 2000 again, and importantly... when. So, in an attempt to check out the technical bull and bear potentials, and despite requiring more time for Gold to consolidate, here is my preliminary conclusion... Gold should be heading down, but not before a lower high around 2000-2020 next week (16-17 August] as marked by the fuchsia ellipse. Failing to break out with momentum, would see Gold start it’s mid term major retracement... to 1600 possibly. Would I buy gold now? Nah... despite my totally bullish stance on Gold, I would be looking for structures of better odds in my favor as previously described. Meanwhile, one thing I am sure, and it’s very obvious... Gold is in a volatile phase till the end of the year. “ Patience you must have, my young Padawan ” - Master Yoda
COMEX:GC1!
by Auguraltrader
4