Barrick Gold is oversold
It looks like Barrick Gold (GOLD) is oversold on the ytd trend channel, rsi & volume ema. The metal gold 11800/OZ, hasn't been this cheap since July. I know with all the hoopla about bitcoin being a hedge on inflation, I will not be surprised if GOLD makes a U-turn in the next few weeks / month and starts gaining significant value again. I guess we'll see. I picked up some $23 long calls out of speculation. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading 101*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue & Earnings
Debt / Cash
Book value, assets
7 Common mistakes:
+5% portfolio trades
Bad risk management
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
tradingview.com/u/growerik/
TradingView links:
tradingview.com/black-friday/
tradingview.com/gopro/?share_your_love=growerik
*3x lucky 7s of trading 101*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue & Earnings
Debt / Cash
Book value, assets
7 Common mistakes:
+5% portfolio trades
Bad risk management
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
tradingview.com/u/growerik/
TradingView links:
tradingview.com/black-friday/
tradingview.com/gopro/?share_your_love=growerik
Note
Impressive delta:theta ratio of 26:1Note
I wound up turning this into a calendar spread strangle for risk management. Equal ratios of 12/422.5puts with 12/1823calls.Trade closed manually
break even was triggered on contracts liquidated calendar spread strangle 12/422.5put-12/1823call for $111 a piece. I'll revisit another day during regular hours.Trade active
GOLD$22-23strangle12/18 contractsTrade closed manually
closed at 9:33amTrade active
Re - entered at 2:43am with a 24straddle12/18
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
Disclaimer
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Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
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.