Caught support at 178 bouncing perfectly off the bottom trend line of the channel GLD is in. 178 is correlated with 1900 gold/USD so seeing a good bounce off that level should give us more upside in the near future.
Thoughts on the major sell off of all metals that continued into today? I'm holding onto some GLD $170.00 February 19th calls and am hurting because of it.
ThirtyninethParallelInvestment
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@Euretyum, I closed my position this morning because i thought this would continue upward and didnt want to stay in a position that i didnt understand anymore. I am still very bullish on GLD but it just broke upward trend these last 2 days nad no sure where its going from here short term. I will wait to enter until I see buyers step in and start moving this upward again.
Euretyum
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@ThirtyninethParallelInvestment, Thank you for such a quick response. I should have exited earlier as well but missed the opportunity. Good luck!
ThirtyninethParallelInvestment
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@Euretyum, give us a follow if you like trading gold. im always watching the price action and stay up to date on current news.