SMA13/50 as support
OBV Crossed OBV SMA34
W%R crossed -50
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
The weekly chart of gold is a giant cup and handle, looking extremely bullish. There is a double bottom that printed on the shorter term charts which is a good sign. Everyone hates gold right now which is a good sign it bottomed, similar to BTC at the 3k levels last bear market. Money printing is still continuing at a rapid rate so it's just a matter of time...
Just listened to a great interview on the Market Huddle podcast feat. Michael A. Gayed from the Lead / Lag report. Great interview!
So one of his leading indicators discussed was the LBS/GLD ratio and it actually correlates quite well. Although it predicted the 2018 Christmas crash much more distinctly (with a slight trend break down to the trend line false...
Hi guys, today I will be explaining how to use the Relative Strength Index (RSI) to your advantage. First of all if you have not already, please follow me. Okay, so the RSI is commonly said to buy when oversold and sell when it is overbought. However, this strategy does not always work, and can result in you predicting what the security will do.
First Step: You...
Asset and Time frame -Daily,GLD(XAUUSD)
Entry Price -161.4693
Exit(Stop Loss) -158.12
Exit(Take Profit) -175.12
Technical Analysis - Price has reached the bottom of the down trending channel after a long run-up, on the weekly time frame the price is pretty close to the 100MA, and volume started to pick up, smaller position than usual because of the market...
Programmers are artisans—not scientists. Our code must work, yet good code is not only tested and functional; it is a pleasure to read. Good code is that which others can learn from and enjoy the most. It is beautiful. It oozes the care that went into each line, leaving only those with unassailable purpose. Good code is whole; lines cannot be removed without...
Hey guys, if today I am doing GLD, and showing how it could be a really cool short. Firstly, lets start with the background. So, because of all the inflationary items like stimulus checks, relief items, and other things that have helped our economy come back from a crash, it has helped commodities. This is because when the dollar becomes less valuable as there is...
In a world of billions and billions have been created by digital technology only, without real assets to back it up, Gold seems to be a sensible hedge. Technically it is forming a buyable bottom, with a target of $180.
One of the most unusual things about the market over the past few months has been this "inflation fear" has not helped gold out. Typically people flee to hard assets like GLD to try to preserve value while their dollars lose relative buying power and bonds get slaughtered. arguably, bitcoin has been poaching money from the GLD trade of late.
But things may be...
Gold is currently in a big downtrend that began back in August 2020.
Despite that, recently it has been forming a possible bottom. RSI is forming a bullish divergence that is pointing Gold going up.
I still want it to confirm it breaking through 163$, the red trendline and the 200WMA. It's going to be hard, it may take weeks, but if it can break those levels we...
... for a 1.26/contract credit.
Notes: Strike improving a little bit here while collecting a credit with 10 days to go in the April contract. Total credits collected of 3.97/contract with a cost basis of 159.03.
Buy a call debit spread Gold, just to hedge my portfolio, with a low IV rank hence why I did a debit spread.
Anything below 20 IV Rank is when I do a debit spread, and Gold has been smashed to the down side.
Its below my 160 call, so I just have to wait until it goes back up to 160, if it drops more then I have to roll credit call below 160.