O87 trade ideas
BUY GLD TARGET UP TO $175 , PATTERN RECTANGLE GLD has finished confirming the "Rectangle" pattern and going up well.
GLD buy : $166 +-1
Stop loss : $164
Target : $175 +-1
Wish you good deals!
$GLD Continues to Murder Bears, All-Time Highs in ViewGLD -- Tick-tock, tick-tock... gold is just a minute away from new all-time highs as we see it.
We have been fans for the past year, and still see no real red flags in the way of this trend, and called for the breakout here .
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.
