We've all been watching Gold/Silver - waiting for the next big move. I think we've hit the bottom RIGHT NOW.
FEAR is going to build over the end of the year as global market concerns continue to elevate. Gold & Silver should continue to rally higher off this Quintuple-Bottom level - or break downward if the Fed is able to navigate a soft landing.
Either way,...
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Disclaimer - These are not MINE. Replicating the work of Mike (Figuring out money)
#Buy Signal
#4 Week ROC crosses up through 0.
#Place Buy Stop Order above that Weekly Candles high
#- If price action does not reach entry point by the time the ROC crosses back down through 0,
buy #Signal is deactivated & we wait for the next buy signal.
#Sell Signal
#4 Week ROC...
GLD is warming up in the lower magenta-colored zone between $152.85 and $159.20, where it still has some room left to finish wave iii in magenta. Afterwards, it should jump up into the upper magenta-colored zone between $163.39 and $171.23 to complete wave iv in magenta, before sliding into the yellow zone between $150.72 and $140.40, where the overarching...
Positive price divergence with MACD and RSI indicators. Playing long to the upside of the falling wedge channel, roughly coinciding with the 50-day MA.
Channel Down. Not looking like a buy point for me.
But why?
Gold does not generate a yield. If interest rates continue to rise and you’re holding gold, you’re forgoing the interest income you could earn on dollars if you put them in a bank account or invest them in bonds. Maybe that’s why rising interest rates tend to create headwinds for gold. Dunno.
The...
GLD got beaten up for years. Expecting a small little spike down to 154/155 and then climb. Inflation and high rates are here to stay. Why would GLD not rise?
I went long debit spreads this morning on GLD, looking for mean reversion to 21DMA at the least
Technically bulls have stepped in right where they needed to prevented further breakdown and defending the 157 zone support line that's played as a major pivot zone for 2+ years now.
Quick move to $162 is first PT
Recently GLD has followed a set of movements which have an uncanny resemblance to what happened in 2021. The last time this set of movements happened, it was bullish and returned around 13% in a month. This is combined with a strong support level at ~$158, a bullish inverted hammer on the previous bar, and two recent doji stars, which indicate that the downtrend...
It is still summer, so no wonder GLD wants to refresh itself in the upper blue zone between $163.03 and $160.17, into which it has leaped so enthusiastically that we have to wipe droplets of water from our faces, watching the chart. Here, GLD should now finish wave (ii) in blue before resuming the overarching upwards movement. However, as part of our secondary...
GLD at an interesting price level. Possible squeeze incoming off 157 support level.
Offering a good risk reward for longs.
A similar support level seen on VXX.
GLD ETF has reached a significant horizontal support level which has been in play for over 2 years now. Will we get another bounce off this level? Also interesting that this support is intersecting at the weekly 200ema. Not a bad risk reward to try play a reversal off this significant support as your risk can be quite limited
NYSE Arca
