2840 trade ideas
GLD/SLV Ratio - normalizing!This ratio is starting to normalize as I have suggested here with several ideas. SLV is finally outperforming GLD and it probably still has a bit more to go before they both need a breather. Watching this closely but we've dropped 4 full points already.
GLD is heavily outperforming SPY. Long GLDI see this trend continuing over the next year or longer. Please follow for more analysis.
GLD is heavily outperforming SPY. Long GLDI'm taking some Leverage here on GLD. Follow me for more analysis.
GLD watchlistRetesting a trend line established since June 4th, wait for confirmation to set long position (2hr timeframe). Without candlestick confirmation, there is a possibility of a breakdown below the trend line as risk increases with the Gold bubble.
GLD chart projection for correctionI am personally long and bullish, but this uptrend looks to be due a pullback. Tons of indicators and sentiment and people saying we're overbought. I put this chart together for myself to hopefully get a sense of when that might happen.
Head & Shoulders Pattern For GoldIn addition to the rising wedge/triangle we see on the GLD, there is also a nice Head & Shoulders Pattern formation presenting itself. I suspect we will go down to about 140 on the SPDR GOLD in the next 12 - 15 days.
I don't know the exact timing of the bottom of the head or the top of the right shoulder, but I did put the price points at where I think the right shoulder will hit and where the neckline will be.
There are also a variety of indicators I am looking at that support my bearish movement including the DMI, MacD, and Stoch RSI.
Long LongDon't be fooled by the last peak from 2011 to 2013 the chart only has a memory starting from 2005, also forget the oscillators they won't help you value gold either since like the chart the oscillators can't see the longer trends. The Gold is only going up and it will continue to go up, covid19 is a trend accelerator, gold will never see 1800 dollars a troy ounce after july, no wear near it. Gold is going to break 2000 per ounce and will start touching 3000 by 2024. This is a blue sky breakout.
GLD soon to go into a modest correction, based on cycle analysisThe chart shows cycle analysis on GLD. The bottom shows the repeating cycle lengths, which are very consistent in GLD and gold futures. You can see the support area, which we labeled as a buy zone. Based on momentum indicators and the structure of cycle patterns, in multiple time frames, it is expect that the price of gold will continue the uptrend.
GLD longI think this shape is where many EWers count as end of 5 - at least i would when i started EW. However, in short term I think momentum shall overwhelm and more upside is expected as long as 164.5 is held.
Gold is going down ...I'm predicting a 50% move down until 151, or possibly a little lower to 148 with a target of around July 6th.
The DMI is looking like it will cross. The ADX, which represents strength of move is a little low for me. But that could go higher by the target date.
The MacD is starting to decline. (not included)
The CCI is in the overbought position.
The Stoch RSI which is leading indicator has crossed signifying a down move.
I have the EM, MA, and WMA because I am trying to learn more about them right now.
GLD - BIG PICTURE!This is a weekly chart that goes back to the prior bull market when GLD hit its peak around 185. We are 19 points away from that and have cleared many many milestones and continue to trade strongly in the last FIB level before new highs. For the naysayers that still think we are in a bear market show me why. Last week we cleared a milestone taking out the downtrend line that marked the peak in 2011. We are less than 4 points away from the first of the three remaining overhead resistance lines in the green yellow and red before we jump up to 185. Those lines are respectively, 170, 174 and 175.5 and less than 9 points to clear them before the attack on the ATH. There is absolutely nothing I can see on any longer time frame that suggests that we are currently overbought in any way. GLD has had a constant bid under it since coming out fo the liquidity collapse that caused it to dip back in March. In fact, it is currently in its normal trajectory after a consolidation that has lasted more than 80 days above the head and shoulders break. The back drop for higher prices is the best it has ever been. Fake news is the stock market rally that is running on fumes. I am getting calls from friends about opening accounts and wanting to trade. The time is near my friends and the metals are gonna fly. Don't miss it!
