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Correction
Sep 10, 2020 8:10 PM

GLD IS TOAST, BLATANT BEAR FLAG HAS COMPLETED Short

SPDR Gold TrustArca

Description

Bear flag has completed. Looking for an impulse to 165. Opened more Oct 16th 175 puts.

Comment

It begins
Comments
ryan-snk
Shorting gold now that's a good laugh right there.
Correction
@ryan-snk, Longing gold now that's a good laugh right there.
milty-friedman-3
@Correction, you both are correct, GLD doesnt follow normal chart patterns it kind of does its own thing, the great heartbreaker, she could consolidate in this range for weeks or months
horacejunior
@milty-friedman-3, agreed :) I think we’d see a shakeout (as gold oftens plumbs the lows before taking off for its next impulse up) and a take off.
ryan-snk
@milty-friedman-3, Gold's thing is fibonacci extensions.


ryan-snk
@Correction, Gold barely pokes above it's ATH and you think shorting is a better option.
El-Brando
@ryan-snk, 😂 especially with fed policy currently.
AVTISTICVS_MAXIMVS
@ryan-snk Aged like milk
ryan-snk
@AVTISTICVS_MAXIMVS, It will be short-lived. Being short gold is still the wrong play even if you get lucky.
El-Brando
You may want to revisit your analysis of a bear flag. This is just a mild correction followed by consolidation that would seem to favor the bulls.
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