Inverse cup and handle from 127-115 area. Currently in ascending flag. Once break down occurs PT is 103-105 for $GLD. This same exact pattern is seen on the weekly in $XAU (obviously). May rise to 1235-1240 and 116.75 respectively before the breakdown. This also correlates with $EURUSD at 1.03, which I am short on as well. This month may see some moves...
Hidden bullish divergence on the weekly chart. Looks like the end is near for global stocks...let's see where all the money goes. I've noticed for a while now that most of the inventory (bars & coins) have been 'out of stock' at the London dealers. Best get some shiny 'cause 2019 is going to be one rough year for all the schmuks driving their Lambo's around my...
A quasi-TTM Squeeze happened (orange up arrow) coupled with ADX momentum peaking which resulted in gold $GLD going lower. The large wick circled shows this is a retracement to resistance before heading south again.
Previous breaches above were met with resistance (circled wicks) which coupled with ADX momentum peaking - shows this about to go south.
Be aware of the options markets..will likely hold gld under 115 and gold under 1215 range....good luck..nice scalp..nice profit.... 113.50's to 114.8 and 115 solid 24 hours of work.. GLD at 115 is the 100d as well..likely acts as resistance Buys from mid 113's on turn around tuesday worked perfectly.....chop chop
GLD close 115.8 We can see some drop to 114.4 by breaking down 115.2 after that critical Res @ 113.85
Good day folks, I think the fundamentals and the chart look very bullish for GLD in the long term. As such, I started accumulating it on a monthly basis while shorting it through options. The reason being that my accumulation is for long term gain, diversification and currency edging, while my options trades, well simply for short-term return. Look at the weekly...
Possible test $130/133; If not, eye $112 Supp
Bigger channel in tact...down trend from spring broken going up. Could see a retest of the 61.8 retrace and old down trend/channel lows if needed. Next week is options expiration and could be choppy. Keep it simple..long term With the fast drop be aware options Implied Volatility is high...Selling out of the money puts could be a good play here out into...
Needs to hold gld 116.20's...or we could fill some gaps and test low end of range. Ripped up on volume..consolidating on light...potential is to trap bears for fuel of higher highs into green zone to come. Be safe in front of election and fomc on thursday.
Rising channels, oversold retracements, at channel bottoms equal profits.
We need to hold this level and find some buyers or the 50d at 114.16 lingers below...be aware of your surroundings and traps going into FOMC..cheers
Bought the GLD in the mid to low 114.70's today...sold puts into january, and looking at the risk vs reward at such levels as nice scalp or buy.
In relationship to crypto and stock markets analysis I did with all my charts, ive compared the relationship of what might happen to gold in the next 2 years.
The current panic in the stock market is fueling the rise of the conspiracy theorists, who fundamentally believe that moving to gold will safeguard their future when the bomb drops and they need to pay for fuel in gold coins. Unfortunately for them, this is never going to happen (or if it does I will be long gone). However, there is a sudden perk up in the...
Momentum has peaked on the weekly chart, and couldn't pierce resistance. Hourly is about to break-out with TTM Squeeze about to go off...