0MK3 trade ideas
Sprott PHYS gold "Buy wall is being broken down"Indicators are pointing down and we've just corrected past the .38 fib. We also have a gap to deal with if we drop lower then the .68 fib. Gap will be hit if we drop to the .78 fib. The buy wall at 16.72 was just broken so we're on our way to the .5 fib.
If we are in a strong uptrend it should bounce at the .5 fib or above. I would think about adding to my position if it drops to the golden pocket between .68 and the .65 fib or between the blue lines if we still looked healthy.
I would keep an eye on RSI and MacD crosses.
$PHYS "Gold" 20 year Cup with Handle?Looks like Gold is trying to breakout of a Cup with Handle formation. Only time will tell. $PHYS seems to follow real gold better than $GLD. As you can see on the chart I am long small sized position. I'm looking for this to break-out in the coming days/weeks and if it does, I plan on adding. All TBD. Ideas, not investing / trading advice.
$PHYS (better than $GLD) Looks like Gold is Breaking Out!I've been looking at a gold play for awhile now. $PHYS seems to track "real gold" better than $GLD. I just opened a new position as it both had broken the down trend line but I also wanted it to retake the 200 DMA. I've got a tight stop on this. You can see my entry and stop on the chart. I'm looking to gold / $PHYS as a hedge on the inflation headlines. Ideas, not investing / trading advice.
In gold we trust, is it safe?Here's a look at gold as a short term play, and as a long term investment. Looking at the ETFs and trusts. And a little chat about physical.
Gold 1M pushing on cloud and resistanceThe 1M gold chart shows pressure on the edge of the cloud, while the daily chart shows a bull pennant forming, signaling bull trend continuation. The 1M also shows slight bullish divergence. Without much resistance after the current level, I'd expect a rapid move to around $13. Gold mewn rocket time is imminent. If bitcoin completes it's Three Falling Peaks formation and altseason remains elusive, a lot of FOMO capital might flow from $BTC to gold.
