Max risk is about 4.3% based on an entry of 1307 and a stop of 1360. If you buy GLL, risk about 8.5%.
Comments
huntingsniper
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amazing call! approaching to your target and already a 38% gain in GLL from your entry point to last friday's close. do you have a timeline for reaching your zone of "buying aggressively ?"
Lanmar
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Thanks, sniper! GLL was definitely great for those with smaller accounts that cannot trade futures.
Not much of an idea on the timeline, nor do I know if we will necessarily hit that level. If I had to make a guess, then maybe sometime in 2017. This is based on my belief that we'll see gold hit 980/1000 in 2016. The 980/1000 level will be very supportive in itself and will be very difficult to break through easily, so it will definitely need time if gold will still remain weak. I will continue to follow up on the progress to determine the best probability & risk/reward. Please note, I am definitely a buyer at 980/1000 - but a cautious and moderately aggressive one. Hopefully we hit the "aggressive level." It will be a fantastic opportunity.