Stop reached but still holding Put Credit Spreads.
Trade Entry
I entered this trade with 1/31 expiry. Although stop was reached, I am happy to either see how this pans out or take the obligation to buy GDX at $27. I can just hold the shares and wait a month.
If you think there will be any kind of unrest in the next year, while Gold comes out of a 10yr nap, then GDX at current price is an excellent hedge.
Chart Details
Bullish pennant failed.
Price retested recent highs.
Current price at $28 has 10% upside to last high around $30.
Daily trend did confirm bearish today.
Multiple gaps to fill above tells me price wants to go higher.
Watching RSI for bounce off support around 43. If we get below 40 RSI, trade is totally off.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, CRWD Bullish short term, ZM Bullish, BYND Bullish
Trade Entry
I entered this trade with 1/31 expiry. Although stop was reached, I am happy to either see how this pans out or take the obligation to buy GDX at $27. I can just hold the shares and wait a month.
If you think there will be any kind of unrest in the next year, while Gold comes out of a 10yr nap, then GDX at current price is an excellent hedge.
Chart Details
Bullish pennant failed.
Price retested recent highs.
Current price at $28 has 10% upside to last high around $30.
Daily trend did confirm bearish today.
Multiple gaps to fill above tells me price wants to go higher.
Watching RSI for bounce off support around 43. If we get below 40 RSI, trade is totally off.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, CRWD Bullish short term, ZM Bullish, BYND Bullish