A. Short-term: NEUTRAL
Daily chart pattern: Double top
RSI: Close to 50. Needs to cross 50 to turn bullish momentum
1. Double top confirmation
- Fib 0.382 rejects at $299.85
-> Enter PUT option for PT: ~$280.5
2. Failed double top
- Pass fib 0.382 at $299.85 to gap up
-> Enter CALL option for PT1: ~$303
PT2: ~306.5
B.Long-term: PUT
Overall long-term opinion: LEAP PUT for GLD with expiration date more than 1 year. PT: ~200
Daily chart pattern: Double top
RSI: Close to 50. Needs to cross 50 to turn bullish momentum
1. Double top confirmation
- Fib 0.382 rejects at $299.85
-> Enter PUT option for PT: ~$280.5
2. Failed double top
- Pass fib 0.382 at $299.85 to gap up
-> Enter CALL option for PT1: ~$303
PT2: ~306.5
B.Long-term: PUT
Overall long-term opinion: LEAP PUT for GLD with expiration date more than 1 year. PT: ~200
Note
***Confirmation for PUT option is breaking support line $~288.5Trade active
CALL PT1 hit :~ 302.7 (very close to PT)Trade closed: target reached
CALL PT2 hit: ~308 Im out for now
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.