$true might be a bit late to the party but i felt comfortable taking an out of the money call for July 17 option. gives me some breathing room. 1st TP: $3.50 , 2nd TP: $5. happy trading.
break of the trendline, trendline got retested and seems to be breaking short term highs. it looks good from my point of view.
here is another one, lets see if it works out. here are some reasons why.
1) CCI is diverging
2) RSI diverging
3) Seems like a second leg of a double bottom
4)i took april 27th as confirmation for that DB
there is a good chance i am in early, but i was willing to take the risk.
To be a bit more conservative, one could wait for a $2.70 break for entry.
1) MACD cross over
2) CCI divergence
3) double bottom
so i am anticipating price moves to the upside. current bearish fundamentals are in my mind: recession, unemployment, covid-19. so caution is called for, but for the most part, everything checks in my book: until it tell me otherwise.
Although gold is on an uptrend, I will be looking to trade it buy/sell on the short term from these 4 trend lines; H&S neckline, 38% fib, 50% fib, 61.8% fib. Using the cci, stock, price patterns for entry and exits.