Weekly bull flag. Waiting for 2016 retest of highs.
Target area 115
Thinking this occurs around March then major decision time, up or down? I think it will create big double top and come roaring down. BUT looking at macro global economics US rate increases and relative economic strength, EU turmoil (Malta banking, Italy/Greece debt, volatile politics like US, huge decrease in German sedan purchases, nullifying tariffs on US made vehicles etc.), Canadian housing market and low rates, etc.. I do not see a relative strong competitor and thus flow should continue into USD by relative strength.
I have large position in March 2019 $115 puts on $GLD at $3.15 looking for GLD target of ~$100.
I'm a physician. Do not take any of my analysis as advice, it is not intended for this. Just trade ideas and I would love to hear from others.
Target area 115
Thinking this occurs around March then major decision time, up or down? I think it will create big double top and come roaring down. BUT looking at macro global economics US rate increases and relative economic strength, EU turmoil (Malta banking, Italy/Greece debt, volatile politics like US, huge decrease in German sedan purchases, nullifying tariffs on US made vehicles etc.), Canadian housing market and low rates, etc.. I do not see a relative strong competitor and thus flow should continue into USD by relative strength.
I have large position in March 2019 $115 puts on $GLD at $3.15 looking for GLD target of ~$100.
I'm a physician. Do not take any of my analysis as advice, it is not intended for this. Just trade ideas and I would love to hear from others.
Comment:
Still going strong. Yesterdays Dovish comments from Powell do not change the long term trend here. Remember most currency strength is derived from a relative strength formula. Meaning that even if Fed is a little dovish (still raising rates this Dec) likely the rest of the world will become more dovish and USD strength relatively shall stay high.
90ish would break bull trend. Big support at 95. Really we are just back to the level before the speech from not even 48 hours ago.
90ish would break bull trend. Big support at 95. Really we are just back to the level before the speech from not even 48 hours ago.
Still on a great path and only turning bearish under 90. Headwinds into December MAY lower dollar strength but rate raise in Decemeber will turn it back around.
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