EBCO
Long

Seems like a good time to buy gold

AMEX:GLD   SPDR GOLD TRUST GOLD SHARES NPV
Hello Traders,
Daily chart is showing strong bullish divergence and the price action already has started last Friday. I would assume the continuation of this reversal. Even though I don't think we will break the ascending triangle in the next try, it also seems improbable that we will be seeing the Gold prices this low in short-midterm.
Here is the weekly chart:

The breakout from the ascending triangle downwards seems sofar to be a fake breakout because the volume is not confirming the price action.

I buy physical gold for long term and don't have any stop losses for my trade but if you are trading ETF , I'd set 114 as stop loss and sell around 130 if breakout doesn't work.
Happy trading!
I would not set a stop loss n gold higher than 100 for GLD. Gold used in technology alone is $$$$ and they say jewelry is the majority of manufacturing purposes. World Power Reserves are at all time highs and major debt has been accumulated by these world powers.
+1 Reply
G0F1GUR3 G0F1GUR3
@G0F1GUR3, Add to that a trade war is present between two of them, with political issues among one other and the US, and you will see more utilization of own resources.
+1 Reply
EBCO G0F1GUR3
@G0F1GUR3, Thank you for your input. I completely agree with that. I just started accumulating physical Gold and not planning to get out of it before the next financial crisis. That being said, if I was day trading, I wouldn't get into the trade without a stop loss and after 114, next stop seems to be 107.5
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out