GLD trade ideas
GLD - Getting There!GLD is groping for a short term bottom here after getting whacked for $6 over the last week. GLD hit its highs almost three full months ago and is down right at 10% from $195 to $175. RSI on almost every time frame except longer term, 3D, 7D and monthly, looks ready to move higher, however, I wouldn't discount a move lower with all the inviting FIB levels going down to $170 or so. Macro back drop looks very favorable for precious metals and election results should bring a relief rally. Miners were up today despite GLD and SLV being down. Watch this area and support levels closely as it should provide a good entry point for the next leg up!
Close call XAGUSD on Short vs. Long TrendsVery close trend Q values for Silver
Price correction is here!
Good opportunities for straddles/strangles or Put Selling
See Green box for post election ranges for IC or BWB
Any positive news or flights from Equities will see Trends Qvalues over 80%
Wait for new supports to appear until Nov. 3rd.
GL!
GLD Symmetrical Triangle Break OutGLD LONG
This is by far my favourite play for next week. Saved the best for the last :wink:. It's bee holdings support very well. Currently on a symmetrical triangle waiting for the break out. It rejected the hammer a few times on the daily and forming bullish doji on the Monthly.
Optimal Entry
A break and hold of 179.5 will be bullish, and a break and hold of 178.75 will be bearish. Though I am bullish on it.
PT1 green resistance
PT2 187
SL red support
Contracts
11/20 175/185c bull spread
or
12/4 180/185c bull spread
This will most likely become a hedge for the elections along with VIX. So I will be holding it still near exp unless SL hits. Stay green!
GLD Breakout pattern On the minor time frame, GLD is looking for Fib support at about 175 for a potential rally into wave iii. We’re considering establishing some longs on GLD heading into 2021 for a potential increase towards 190.
GLD Breakout pattern On the minor time frame, GLD is looking for Fib support at about 175 for a potential rally into wave iii. We’re considering establishing some longs on GLD heading into 2021 for a potential increase towards 190.
GLD bearish leading up to elections then Bullish GLD is trading in a falling wedge. Will probably stay there until Nov. looking for a break out after elections and new stimulus.
GLD Broke outGLD retraced to 50% and started moving higher from previous support. As per our previously posted weekly chart this ETF is likely to move higher. There is some fundamental support since recovery may bring inflation worries.
GLD Gold TrustTarget ~194 for this move. Expecting a correction in micro soon and continue upwards. under ~178 more bearish
GLD breakout, looking for build in upwards momentum Good hedge for anyone's portfolio, I have taken some position in GLD personally, looking for confirmed upwards movement if we can find solid support. Copyright Rohan Karunaratne 2020
GLD - show me time!GLD punched through two FIB levels and is at the very top of the flag. Would like to see a volume close above before adding to any position. Indicators looking favorable.
gold futures can be a leading indicator for GLD (ETF) / GOLD ??I have been tyring to find a leading indicator for GLD (ETF) / GOLD (Barrick Gold). but it is weak even considering the mining cost, dividend date etc.
which way?gld is at a big make it or break it point here, whichever way it goes i may make a play ! ill alert it live in discord like always :)
GLD/PPLT would it go higher?!?!Seems like only "Richmen's gold" Platinum is lagging among those investable precious metals.
OPENING (IRA): GLD OCT/NOV/DEC 164/168/172 SHORT PUT LADDER... for a 5.69 credit total.
Notes: Amazingly (or not), I have no gold in my retirement account.
Although I feel I'm somewhat late to the game, taking up a position here in an instrument with excellent options liquidity. For smaller accounts, consider SLV, which also has the added benefit of having higher background implied (SLV: 69.4% versus GLD: 26.4%) or one of the miners (GDX, GDXJ).
As with my other acquisitional setups, run to expiry/approaching worthless and if assigned shares, proceed to sell call against.
GLD short, at resistanceIdentify Price action:
1. Sideways; Find: Support and Resistance
2. pre-support became resistance
3. ABC pattern
Short Entry 180
Stop 181 -- For stock, $1 stop is very easy to be triggered.
Target 175; reward:risk=5:1
Target 170; reward:risk=10:1
Use Option to play this Game.
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
