GLD trade ideas
GLD is also simliarSome signs of a bounce on daily but weekly still looks bad. So avoid short term OTM bets.
GLD back to 170?Target: 170. What I see:
* short term descending triangle
* weak MACD almost going negative
* bearish flag on weekly charts
* DXY seems to have found support; may see a bounce with the recent market selloff into cash.
* needs to hold the ~~ 180 level which also happens to be near the 50 day moving average
looks like it is going to break through on the downside to me.
GLD LongGlD has started forming handle for a cup and handle pattern. Guys remember this is the last time GLD will be seen at that price. Bottom of the handle is what everyone needs to keep an eye on. When confirmed it is time to load and hedge against USD. Because as previously posted, today VIX has bounced heading up, USD is heading north and GLD and stocks are going down. Bonds slightly up too. Market is telling us something. Election debate will cause volatility but it is our only chance to let USD go and buy something else. Warren Buffett bought Barrick gold as a hedge against dollar. Because he believes in businesses and Barrick gold provides some dividends and price growth as gold rises so does the margin for miner. This is my opinion and not a financial advise. Please do not buy or sell any financial asset or any other asset reading this posts. These posts are for educational purposes.
$GLD Entered Breakout Mode from its descending triangle$GLD $GC_F Entered Breakout Mode from its descending triangle chart pattern. I posted about this development back on september 9th here. Close below support yesterday and followed through in a big way today. Price Target added to chart.
post from 09/10 here.
GLD Gold Trust updateSaw a different possibility of bottom in C ~174 that I wanted to mention. Still could see lower ~160 to 169.
GLD BullishArea's of consolidation around key mean levels (20 EMA) reduce risk and usually lead to bullish moves. No specific price targets.
$GLD Wedge Fake-Break LowThe first break of a range type formation is almost always a failure. This can be amplified even more if that fake-break goes against the larger trend which, in this case, it does. Buyers have a LOT of reasons to look for continuation up and a higher low would be a great ticket to the show.
Gold Trust GLD updateStill expecting another low in ~160 range. Watching for possibility that it has turned bullish. It looks better than SLV does off recent bottom.
GLD/SLV RatioWe have bounced a little as gold and silver have corrected from their summer highs. Traded down to the impulse leg target and the next leg down should be coming soon. Like SLV action over the past couple days. Bought hard off the $24.50 bottom yesterday and couldn't even get close today. It's coming.
Inflation + GLD ($GLD $DXY $Sil $SPY #Gold #SPY)see full chart & Follow at www.tradingview.com
A while back, you may see me call the top on Gold because it was up 25% in the last 12 months. while market was only 7%.
Some things have changed since then, Gold came back down a bit, The FED (FOMC & Powell) have declared they would let inflation run wild.
Interesting pattern on Gold, as market is starting to dip. we may get a slight bounce opportunity on GLD, as people panic and move into gld as hedge.
What's my play?
I will probably sell GLD puts at $179 to collect options premiums.
What's the significance of this?
KEY TAKEAWAYS About Gold
-Gold has long been considered a durable store of value and a hedge against inflation .
-Over the long run, however, both stocks and bonds have outperformed the price increase in gold , on average.
-Nevertheless, over certain shorter time spans, gold may come out ahead.
Gold vs. Stocks and Bonds
When evaluating the performance of gold as an investment over the long term, it really depends on the time period being analyzed. For example, over a 30-year period, stocks and bonds have outperformed gold , and over a 15-year period, gold has outperformed stocks and bonds.
$GLD Continues to Act Right for Bull ContinuationGLD -- Gold -- appears to have defended against the descending triangle breakdown potential with a new round of buying/support above $1900/178.
Now, a squeeze through the sloped resistance line is likely.
GLD PT $194 or $170MASSIVE bull flag. Cup and handle forming at top of flag that might break. High target from flag pole is roughly $205. CH price target is roughly $188. Price target from the flag is about $194 (ATH). Failed flag should fill all gaps below and bring us to $170
Gold finished corrective 5 waves? looks like it is entering into a new phase of trading. If the count of ABCDE corrective wave is valid then the next wave COULD be an impulsive wave.
GLD on watchGold has been pulling back here for the last few weeks and has finally filled the gap and pushed back up.
Like the risk reward of starting to add here. Like it above the box. Don't like it anymore if it loses the low
of last week's candle.
Get gold while they are consolidatingGet gold while they are consolidating
I will buy from 180-186 as we move sideways on this for a week or so.
We all know what will happen next year with inflation and gold so be ready for that.
GLD shows investors aren't selling yet!If you're ever wondering whether or not the market is looking rocky, a good way is to look at Gold -- money will flow out of stocks and into commodities as a hedge, and in this case, GLD is holding within this symmetrical triangle. However, if GLD looks like it's consolidating here with the oscillators indicating strength. This *could* be a sign that investors are preparing to hedge their portfolio and are expecting a market selloff sometime soon. Watch these levels, especially towards the end of the month!
Now the upper BB looks much betterLooks like it wants to go higher. But option trades should be triggered by b/o trend line. Otherwise, could be killed by continuation of the triangle.
Stay patient or use equity.
