Gold to drop againA shooting star appears at the upper part in the symmetrical triangle, there is a possible bearish force pushing the price down.
Trade ideas
GLD HTF Daily - High on Curve , Downtrend Short sell GLD HTF Daily - High on Curve , ITF 1hr- Downtrend, LTF 15min- Short sell
Gold shortBearish engulfing on the weekly chart.
I would like the volume to be a little higher, but I think it is enough for a good 1 or 2 week play.
Will update as necessary.
Next Move??Could make a case that more work needs to be done in this channel. Depends on politics, tweets and underlying market conditions. Not sure what camp prevails but this is a tough one right now.
GOLDbreakout on the 1 week of massive range, Mas all good, no divergences. Global markets in turmoil, global fiat currencies slowly getting crushed (Argentina today), investors seek save havens. long gold silver and btc
gld nicely non correlated vs spyI really dont care if it biotechs , bonds, or gold, I just want it to non correlated, and doing what its supposed to do in my portfolio.
so far this year its acting like I want it to.
OPENING: GLD SEPT 20TH 128/130 LONG PUT VERTICAL... for a .21/contract debit. (Late Post)
Metrics:
Max Profit: $179/contract
Max Loss: $21/contract
Break Even: 129.79
Delta/Theta: -6.26/-.43
Notes: Put this on in the closing minutes of Friday's session. Looking for a move back to the short-term range lows ... .
Gold Gold still has held the zone and is looking better and targets are up there in that box.. its about 1600 on the futures.
Short for GLD from a rising channel I identified two rising channels developing since August, along side with a smaller one. There was a breakout towards downtrend in the upper channel.
Entry: 142.34
I sold a call credit spread to short the position. Currently, it seems that it is about to break the lower rising channel.
GLD inside bar continuation Looking for a break below the candlestick that is before the inside bar.
There was a nice retrace to the 38.2 fib level and 20 MA. GLD bounced from those levels with 2 solid bear moves, and the volume was solid for both.
If GLD breaks below the low of the 1st candle, I will enter short and possibly take a 2 target trade.
