GLD trade ideas
Gold making a bold move higher....As Bitcoin steals the limelight, gold quietly and gently breaks out AMEX:GLD #GOLD
Gold put in its first all time high for a daily close
This will likely end with an all time high by EOW or a highest ever weekly close.
Unfortunately, this leaves me with a conundrum as gold is a risk off asset and if we see a substantial increase, its possible it could be a signal of a risk off move from the liquidity sloshing around out there.
Funds have been allocating to bonds and money market funds as these lower risk fixed income assets provide an element of security during uncertain times and pay an interest yield. Gold offers protection and upside potential whilst providing additional protection against inflation.
In any event, it could be that we are due this long awaited move up for an asset class that has been moving in a relatively tight range since 2020.
The TA suggests the bullion bull gate may have just opened
Keep an eye folks,
PUKA
Major Breakout in GoldAs shown on chart of GLD, a major breakout occurred today. The target is well into the 200s.
GLD , the gold futures ETF LONGGLD is shown on this 240 minute chart with a falt top triangle drawn with upper and lower
trendlines for resistance and support. A volume profile is overlaid. Text boxes comment
on the basis for the trade and the use of the relative strength indicator. Price is low
in the high volume area confluent with the support line. I see this as a long trade set up
and ready to go. Zooming into a 15-50 minute time frame will help find the best entry.
The RSI indicator would need to have its time frame settings adjusted I typically use
one half the chart time and twice the chart time to get a decent time spread,
Gold is forecasted by some to reach $3000 spot price in 2024. Gold and Bitcoin compete
for dollar attention. Things will be interesting for sure.
GLD breaking out. Golden time ahead. Gold is breaking out on a weekly, not only from the channel but also from the pennant.
Gold is taking off and looks very interesting.Gold started to move higher more decesively. It looks very interesting and could provide support to underperforming gold miners ETF - GDX.
GLD - A Little More Down and then to New HighsGLD is exhibiting a 5-3-5 zig zap correction pattern. We appear to be in the C wave in the third move with a wave 4 and 5 yet to complete the formation. Price is also approaching the .382 fib level, often a good retracement level. Next upmove should be explosive with many projecting to the 230 level.
Gold long if monthly closing above 192Gold long formation if breaks above 192. Cup and handle pattern in monthly time frame
GLD, GOLD I buy gold options for March Gold - I am pretty bullish for all of the 2024, I am pretty bullish for all of the crypto(my fav are: BTC, ETH, LINK, SOL). I am pretty bullish for all of the stock market - I really like NVDA and AMD plays for swing and daytrades
Few fundamental reasons why I buy GLD:
- Banks and goverments are buying a lot of gold from 2020 till now, and we still have very cheap price for gold
- a lot of conflicts, possibility of new conflicts(Taiwan, Gyjana)
Technical resons:
- 5 min.m 8/34 emas crossed on 5m.chart
- we are above 200 ma
- we tried to break 191 level, we still need break and hold hear and next level - 193-193.25
- we tried to break 2000 on gold a lot of times, once it will break and hold will see gold 2500-3000 per unce in 2024
- Its only 1 of my few ideas right one in the market
the idea is not financial advice for entertainment only...
GLD - Breakout of Reverse Head and Shoulders - alertPretty distinctive Reverse Head and Shoulders look. Breakout projection points to 236.
Wave formation may be wave 3. 1.618 fib of wave 1 projects to the 236 level as well.
The neckline has been heavy resistance for years now but the wave structure points to a big 3 of 3 run that will smash through and start its run.
Physical is better for long term Cash over GLD has been steadily rising over time
Looking for GLD to push lower to test Weekly or DailyGLD tapped off the Weekly level 185 and has held it for over a week now.
I think it could just actually hold right here or push down into the Blue line / Green highlighter level Daily level 183 and find support before moving higher.
There is a fresh Weekly Daily MTF level at the Pink highlighter 179. Which is where I would put a short Put strike trading this as a Put credit spread campaign.
I'm not sold just yet on the 185 holding so just waiting.
I like the 183 level better because it has a previous VWAP inflection there.
#GLD giving a Cup and Handle formation on the monthly chartSetting up for a breakaway move that can give us a good upside on Gold
The breakout level has been visited multiple times and getting weaker with every attempt. Should give way soon and give an explosive move.
Will need some sustained presence above the breakout price for a few weeks to be validated as a breakout. Interesting to wait and see the next moves on nthis chart
GLD to Move Above 230While my Elliott wave skills are basic at best, I predict that we are about to enter a Wave 3 move. The formation appears to be a reverse head and shoulders. A measured move above the neckline takes it to 236. Coincidentally, a 1.618 fib. One can expect that degree of a move for a wave 3. Could go higher but seems that mainstream analysts are calling for $2,300 gold this year. Just playing the fibs at best.
Wave 3 to Push GLD to New HighsWave pattern is looking fairly clear, showing that we are in a Wave 3 now. A breakout of the recent highs should push price to 230 and above. When gold starts taking off, it will be moving over 100 a day, 10 points in GLD. Target price could be achieved fairly soon, probably by the time the Fed cuts rates. Many are expecting this in March. My strategy has been buying deep in the money Jan 26 calls. Also building positions in miners and streamers. GLD, NEM, WPM, FSM and a few others
2024 Year for Gold Bulls GLD! This weekly analysis provides an update on Gold (ticker: GLD) following the last assessment in the high 170s. Notably, a bullish cup and handle pattern has emerged, taking the form of a more dynamic head & shoulders configuration within the handle.
The handle, which itself represents a bullish head and shoulder pattern, is poised for a breakout from the right shoulder on the weekly timeframe, anticipated around the $191.77 mark. This pattern suggests a strong bullish momentum, signaling a potential upward trend.
As we navigate the financial landscape in 2024, all indicators point to a promising year for Gold. Stay tuned for further insights and real-time updates as we closely monitor the charts.
GoldBullish moves from gold on the long term charts.
Cup and handle is formed and i doubt this stops and goes back down from here.
$GLD: Metals Before Rate Cuts?We're seeing a greater than 50% chance that the Fed starts cutting in March and I'm starting to wonder if we may need to start getting positioned for a possible probing higher as we look to see how many bulls are interested in gold considering the dollar's weakness.
Expired GLD Weekly outlook. 2nd WK DEC 2023Expired GLD Weekly outlook. 2nd WK DEC 2023
> NEUTRAL 📊 CORRECT
Closed Price: 185.64
Target Price: 184 | Strike Price: 183.23 DEC11
Upper Range: 188
Lower Range: 181
IT'S GLD TIME LET'S GOGold price is on the move so the time has come to buy GLD and wait for the best.
GOLD $GLD Trade Idea
Another chart that I have been following for a little bit that I wanted to share with the community. Here we have the chat of AMEX:GLD
We can see that AMEX:GLD faces strong resistance around the $190 price level. However, with that being said, we see that AMEX:GLD is on a short term uptrend.
In addition, the moving averages are all facing up and further point to short term bullish price action.
In addition, we can see that the price recently pulled back to a key support level and created the H&S Pattern. After breaking the recent diagonal resistance as we can see on the chart.
The price could reach that $190 level in the short term and provide some profits for traders. Then if it breaks resistance, we could see a much larger bullish move and momentum.
Today I entered a neutral and bullish trades on AMEX:GLD AMEX:GLD profiting in case of either scenario.
The oscillators are a little bit overbought at the moment, so I would expect a pullback at some time. Maybe at that $190 level before further advance.
Only something to consider is that AMEX:GLD can be a great way to hedge against market crashes or bearish price momentum.
Hope this was helpful for the readers, if so follow me for mroe trade ideas.
Good luck trading!
Spot Gold ETF GLD going to $270It may take a few years but GLD has formed a cup and handle over the last 12+ years. The cup was formed from 2011 to 2020 with the cup top at $185. The cup bottom is at $100 in Dec 2015.
The handle has been formed from 2020 to the present. The target for this cup and handle is:
Cup top + Cup Depth = Price Target
$185 + ($185-$100) = $185 + $85 = $270
The target price is 46% over the current price. This would be a good profit but it may take a few years to get there since the cup and handle took 12+ years to form.
90% win rate 🚀 Unveil an easy $GLD Call Play with naked #goldHey everyone, Greg is here with a quick rundown of today’s options trading play. I entered the ring with a naked call on AMEX:GLD , aiming for that sweet spot of easy returns on a maximal Pop trade. Today’s golden ticket could net me a max profit of $118 with a probability of profit (PoP) sitting pretty at 80%, all while tying up $3000 of buying power and riding on an implied volatility rank (IVR) of 20%.
The game plan was simple: watch the market, play it cool, and have a couple of scenarios up my sleeve:
(Scenario A) If the price hikes, I'll pivot to a strangle, balancing out with a sold put to accompany my call.
(Scenario B) If it looks like easy money, I’ll lock in those gains and close out the current trade, quick and clean.
The strategy is all about simplicity, with an exit plan to bow out gracefully at about 65% of the max profit. As of today, November 5, 2023, that naked call is open and I’m in the market.
To wrap it up, here’s the play-by-play for today:
Date: November 5 , 2023
Strategy: Naked Call on AMEX:GLD
Opening Credit: $118
Expected Profit: Exiting at ~65% of max profit
Probability of Profit (PoP): 80%
Required Buying Power (Req.BP): $3000
Implied Volatility Rank (IVR): 20
Current Position Balance (as of opening): $118 of credit (1.18cr)
Stay tuned to see which scenario unfolds and how the trade’s balance shifts in the coming days. Keep it easy, folks!
Gold quarterly outlookIn analyzing the gold market, I've observed a recurring pattern of ascending triangles over the past three years. Additionally, I've identified a discreet descending channel , a pattern often associated with bullish trends. Anticipating a breakout from the upper boundary of this channel by February 2024, it's noteworthy to consider the potential role of the March 2021 trendline, which may act as support in this possible scenario.
