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GLD trade ideas

GLD ready to run 170-180, finally?One of the most unusual things about the market over the past few months has been this "inflation fear" has not helped gold out. Typically people flee to hard assets like GLD to try to preserve value while their dollars lose relative buying power and bonds get slaughtered. arguably, bitcoin has been poaching money from the GLD trade of late. But things may be changing.... Along with my bearish BTC forecast ( ), this might even make more sense (perhaps some money rotates back from BTC to GLD after the COIN ipo?) However, finally technicals on GLD are starting to firm up! First, we have a very nice double bottom ('W') formation. Second, we have a descending wedge breakout. Third, the momentum indicators -- MACD, RSI are finally setting a northerly direction. The "easy" trade here seems to be a short term push to ~~ 170 (completion of the 'W' pattern (W bottom of 158 and top of 164 gives a 6 point upside projection to 170) (point 'A') while the more challenging one would be a push all the way to 180 (point 'B').
AMEX:GLDLong
by tacosaurus
Gold - The Long GameGold - The Long Game Gold, in addition to other precious metals and commodities, has been rallying on inflation fears. Here is our technical breakdown: After forming a 7-year rounded bottom, $GLD rallied 43% from the March 2020 bottom, topping out at the 27% extension of $194.50 in August of 2020. A successful breakout of our August 2020 downtrend targets a re-test of weekly supply of ~$182-$184.5. Beyond that, a re-test of highs at $194.50, and extension to the 61.8% of $207. -Will, OptionsSwing Analyst
AMEX:GLDLong
by optionsswing
Cup and Handle on GOLDIf Gold continues its uptrend next week, I think the breakout will be in motion. Otherwise, Gold will continue to be squashed for another few months or so. What is interesting is what Gold rising will mean for other assets and the macro environment in general. Currently, gold actually does tend to rise with stocks since its a bet on yields staying low The higher yields are on treasury bonds, the lower gold moves. You saw this on Tuesday when Yellen scared the market by implying rates may rise. In the future, when this pattern completes, will this correlation still hold? Will yields actually go negative if gold is allowed to move? Or will the correlation break down? Something to keep in mind.
AMEX:GLD
by roguewavecapital
Gold is signaling INFLATIONFEAR OF INFLATION? Gold continues to RISE! HARD ASSETS (gold / silver) ARE CONSIDERED AN INFLATION HEDGE AGAINST SOFT ASSETS (stocks). Stocks have been at ATHs and there are signs that tell me that the FED will come in to put the breaks on the economy. By doing so they will start to raise interest rates soon. Rate spike = Bonds drop = yield spike = people invested in stocks decide to move their money into government guaranteed bonds with less risk but same return. GLD closed above its 9 ema. Which signals volatility is ahead of us in the INDEX market (stocks). ALL OF THIS TOGETHER tells me that asset rotation is occurring and we may see some shift on money flow rotation it will be fun to see how it all plays out. Keep an eye on Uncle Jerome Powell Weekly chart is telling me to go long around $163. Target 1 at $171. Target 2 at $183 and have some runners for Target 3 at a new ATH and psychological round number of $200.
AMEX:GLDLong
by aramBull_Bearnando
2
$GLD MASSIVE Weekly Cup and HandleStarting in September of 2011 and the handle starting here on Aug 2020. selling volume has declined and got a strong bounce off the 158.85 mark and look to be heading up for our third tap or our handle downtrend When a bullish move occurs the moving averages respond, and the 9MA (white line) on the weekly has curled up nicely with a implied EMA cross over the 50 and 20 EMA (Purple and blue lines) With metals roaring $GLD has seen some love here in the last few weeks, but as it approaches resistance we have to evaluate volume, and if investors are going to be putting money back in to Gold as market fears increase. More updates coming soon. Video update tomorrow.
AMEX:GLDLong
by SimpleStacks
3
GLD Long SwingGold assets have fallen out of favor in recent months and the price is well off its highs. Price closed above a significant level that acted as resistance back in April and May of 2020 and the same level acted as support in November 2020. GLD double bottomed in March at the $157 level and trended up since then. With the RSI in check, MACD positive and the current price in close proximity to the POC line YTD I feel this is a good entry point especially given the increased talk of inflation risk. Targeting: $171, $179, $183
AMEX:GLDLong
by Master_of_Fine_Charts
The Plan Ahead: GLD Levels/Strategic Acquisition Via Short PutGenerally speaking, I'm a premium seller, taking advantage of high implied volatility to sell options to take a position in an underlying without actually getting into shares of stock. GLD, however, isn't particularly known for its volatility and therefore isn't the greatest standalone premium selling play. As of the writing of this post, 30-day implied is at 15.6%, which isn't exactly something to write home about. Consequently, while I am selling premium in GLD, I consider what I'm doing as more in the nature of a directional shot on weakness as a opposed to a pure "tons of room to be wrong" premium selling play and because of this, actually look at a GLD chart from time to time to consider whether given weakness is weakness I'm looking for and whether selling a put at a given strike "lines up" with given price action and is in an area in which I'd be comfortable with acquiring shares. Pictured here is my full GLD ladder, with puts sold or rolled at various points in time. As is apparent from price action, I may have gotten a bit too aggressive with the 163, but was a little more thoughtful with the other rungs where I sold on weakness back to ~155, which is apparent support/resistance running back to June of 2020 and even got some longer dated contracts on where the 20 delta was coincident with lower support resistance in the vicinity of 147. So, in a nutshell, here's the plan ahead: a) Obviously, I'm going to have to manage the 163's. I don't like the level particularly as an acquisitional price point, since it's now apparent that the market will give me opportunities for cheaper, if not at 155, then even farther below at 147. Consequently, I'll look to roll the 163's down a smidge and out in time in the event that price doesn't stick above that level running into the May 21st expiry. Although my mindset is to generally talk myself into being "fine" with acquiring shares at the price point any given short point represents, I regularly revisit whether I have changed my mind given what has occurred since I got filled, and here, well, I'd rather be in shares at a lower price. As a result, I'm going to stay in the options for the time being, which I can kind of massage and manipulate via roll -- something I can't do if I get into stock, where my cost basis reduction technique is limited to selling call against. b) On weakness back to 155, sell puts. Where? Well, I generally like room to be wrong, so it's likely to be ~20 delta, 45 days until expiry or greater. Those puts will be clear of the 155 and -- ideally, clear of that lower support/resistance at ~147, but we'll have to see when and if we get there where a 20 delta strike in the next expiry or expiries 45 days or greater line up. For those without the buying power to go full on naked, consider spreading with the short put leg at the 20. For example, the June 18th 154/159 short put vertical with the short leg at the 20 delta was paying .57 ($57) as of Friday close on buying power of 4.42, a 13.1% ROC at max. Not that I'm going to do that here (again, waiting for 155), but pricing out the spread gives me an idea as to where I'll have to set up my tent in the event I want to get at least 10% out of the spread, and that's with at least a ~20 delta short leg.
AMEX:GLD
by NaughtyPines
2
Gold is hated and I never liked it more.The weekly chart of gold is a giant cup and handle, looking extremely bullish. There is a double bottom that printed on the shorter term charts which is a good sign. Everyone hates gold right now which is a good sign it bottomed, similar to BTC at the 3k levels last bear market. Money printing is still continuing at a rapid rate so it's just a matter of time before gold busts back into its all time highs and people start to like it again.
AMEX:GLDLong
by XeroCrypto1
6