GC - I am still bearish on this.

COMEX:GC1!   Gold Futures
387 38 8
Will be accumulating GLD             at 1220/10-5=117. And hedge the primary position with options.

There is a $5 difference in GLD            
Got to get a bit nimble here - Handling the trade (the Osc shows some strength - I am not buying here) This could pull a move like March 2014.
Profit hit on this, there is one more level I am watching based on the longer time frame
jangseohee ucsgears
Directly sitting on the IHS neckline, so as GLD :-)
+1 Reply
ucsgears PRO jangseohee
Like I planned, My long term accumulation is working it way on GLD. Will hold that for few years.
jangseohee ucsgears
but indices keep going higher, no good for Gold for the moment
ucsgears PRO jangseohee
i dont mind, its a long term accumulation...
+1 Reply
Very close to the Final target of (Tighten the Stop) - On the Options Hedge (pre-protective put). How I handled this trade. I bought a good amount of OTM puts, matched the unrealized profits to purchase the extra GLD @117 on a IRA. Established a 123/128 CCS 1/2 R/R (based on the first post on weekly chart) expiring this week worthless, used all the credit to add more GLD at 117&115. Trade is working its way. Plan a trade with the setup and execute it. This method is good when the trade goes in your favor. When It doesn't, you will be multiplying Risk. The worst would be GLD hitting 118 and bouncing higher(didnt happen) If it did - CCS and Puts made money, Close those positions and be profitable. Multi Leg options, picking the prices to establish the trade, set hidden contingent orders and set alerts and forget it.
+1 Reply
Puts Stopped out, as the FOMC hit. That means there is still fear in the General US Stock market. GOLD rally, BONDS rally after FOMC. Tomorrow price action will plot a picture on how the future 4 weeks will be. Lets see...

Doing such trades, Needs Discretionary trading. A 100% rule based trader's nightmare, if he chose to pay attention to all this. IMO
+1 Reply
Indeed. I was short usdcad and long usdjpy, before FOMC minutes logically.
Counting on a crude and gold rally in case the minutes were negative for the dollar.
Let's see how this affects gold and the stock market (and usdjpy!).
+1 Reply
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