GLD Bounce of double bottom.Bounce of double bottom.
Stop-loss: just below double bottom support level
Take Profit: next resistance near 182.77
2840 trade ideas
Gold CupThe potential for this pattern to play out
will be highly correlated to many things...
Among the most important:
1. US$ (DXY) - Potential for radical moves due to stimulus
2. Other Alternative Investments (BTC)
Sentiment
3. Fear - Trustworthiness of Paper Gold
4. Manipulation rumors
Possible Pattern Plays:
Entry - $160
Exit - $260
Move $100 (62.5%)
Note: Monthly Chart!
May your Cup runneth over!
OPENING (IRA): GLD MAY 21ST 155 SHORT PUT... for a 1.62/contract credit.
Notes: Starting to build out second quarter positions here and what better way to start than with an underlying experiencing weakness. Already have an April on, so going out to May to sell the 18 delta strike.
GLD - Time to Enter LEAP position?Gold has been retracing but several factors lend to a good place to establish a January 2022 LEAP call option position. First off, price has found previous support at the .328 Fibonacci retracement level and looks to be retesting on a monthly basis. Holding this support level would be extremely bullish in my work, on a long term level. Should price break below, there still remains a solid upward channel line in place. So one might have an even better price level later. This is accumulation phase here so don't get discouraged. This is not a short-term trade.
The channel projection, should it hold, indicates that price should be between 180 and 225 by the January 2022 LEAP expiration date. Assuming that the lowest price we will see GLD at the expiration date is 180, one can buy the 170-220 call spread, pay 10 or less, and feel certain that one can achieve a break even since at 180, the 170 call would be valued at 10.
One never knows how these things play out but with ever increasing fiat currency debasement worldwide, gold prices should be much higher. My last look at usdebtclock.org showed that there are $34,000 dollars out there for every ounce of gold. That being said, owning the physical for long term security always seems to be the best option. But for those who like to play the paper side as well, this seems to be an interesting play to consider.
(not financial advice, just a trade that I'm going to put on and my rationale.)
GLD: tracking two counts both bullish long termTwo primary counts for GLD that I'm tracking. Both are bullish long term however near term - next 12-18 months - could see continued correction.
OPENING (IRA): GLD MARCH 19TH 163 SHORT PUT... for a 1.78 credit.
Notes: Building up a GLD position a little bit here on this recent weakness. Targeting the strike that pays at least 1% of the strike price in credit, which here is the 22 delta 163. Going out to March, as I already have some on in February.
GLDUntil GLD hold this support gold will stay above 1800 zone but for whatever reason if the price break this support gold temporary will drop hard. if you find this work useful push like please. Good luck everyone.
GLD - gold ETF - waiting for 162-166 dip to jump inThe most probable scenario for GLD is to reach 166 level before heading for the next (bigger) move to North.
GLD is inversely correlated with Dollar, thus for this scenario to occur DXY should increase, and then head towards South (inflatio, currency devaluation).
Please give a thumbs up, if you like the analysis.
Disclaimer: This is not an investment advice, just mere a personal opinion based on probabilities.
$GLD massive bullflag on weekly chartFlight to safety ON ?
Inflation RISKS On ?
Gold weekly is in a massive bullflag ..
GLD - CONSOLIDATION PATTERN, BACK TO $190 THEN LAUNCH0. Notes to follow;
1. We were Long since $120 (Held a base), and did have "some" successful attempts to "short gold". We won't do that anymore. Actually, we don't want to short anything, ever again. We are really good at catching the top. Ok, maybe once and a while a quick short ;)
- drchelsea
GLD/SLV RatioI meant to post this yesterday but got caught up with something. Haven't posted this in a while but today it made a new low for the cycle and looks to be headed down again. SLV should be moving on up!
GLD Trend AnalysisWe're continuing in this downward trend but primed to breakout to the upside. Accumulation/Distribution shows large accumulation dring tthis entire retracement
GLD Breakout Rejected. Bullish for Equities.GLD formed a nearly decade long base. Resistance was broken but overhead supply was dumped on heavy volume and the price action quickly retreated below the former high. GLD downtrend ever since. Closed below its 150MA. Bearish for GLD and safe heaven assets. Bullish for risk equities. Don't fight the trends.
GLD - Bull TrapNot gunna lie, this position makes me sad.
But when the charts change, my mind changes too
Classic bull trap here. Its consolidating before its next leg down. I think it is going to retest the lower boundary of the parallel channel.
Thanks
go long GLDThe inbound stimulus will cause a flight to inflation protection type assets such as gold and bitcoin. GLD being the most popular and heavily traded in terms of volume is the obvious choice to play gold prices directly. As fiat currencies lose their value, gold prices will rise.
This is also a good ETF to use for options because of how heavily it is traded, it is more likely that your trades will execute and have a bidder or seller for your desired price.
Gold is still a valuable component of a well-diversified portfolio. Bitcoin lately moves more like a risk asset.
Gold in its final corrective wave before bull marketThesis: Market structure for Gold is playing out similarly to the 2008 crash of the S&P500. With the FED rapidly increasing QE, it makes sense that the S&P 500 will see gains for the next year or two, and gold will continue to bleed until we reach an overall market top. From that point on, I expect a huge bull market for precious metals (GLD & SLV).
GLD to see a short term drop followed by long breakoutGLD has seen three major drops during its consolidation that always made significant new lows. We are in the midst of a forth. What makes this one different is that the preceding price action is more bullish. This demonstrates strength not seen with the other drops and so I don't see this one making a new low. If we see it drop below 166 (there are valid arguments to suggest that), then I'm wrong, and we'll be in for another month and a half of consolidation at that new level.
If Tuesday is indeed what I'm predicting, a small candle closing between 169 and 171, I'll buy a small position with a 165 stop. The reason for only trading a small position is because I'm trading a breakout that is probably a couple weeks away (kind-of like catching the falling knife trade) so I want to keep my risk low. When GLD does finally break, I expect it to climb into the 200s.
GLD200 day test but fell back below trend. Watching for now. Think it breaks back above but being patient here for now.
