UPDATE: Near term headwinds for Silver, target sub $14.80Precious metals have been performing very well over the past couple of months, price does not move in a linear fashion so do we careful near term as the risk of a pullback is rising.
GLD
UPDATE: Gold can trade above $1,400 but the path is not linearGold's main driver is real interest rates inverting, monetary policy plays a key role in determining the path forward for Gold. In order to figure out the central bank's actions we really need to focus on the business cycle!
Gold is in a perfect situation to take off!In this update I take a look at the yellow precious metal Gold. Both the technical and global macro picture are setting up for a perfect environment for gold to rally.
Light at end of tunnel now is looking bleak! With todays lows taken out, everything technically has change for me. I felt the market could hold itself up but i Was wrong. A stronger dollar and twisted bond yields will lead this market. don't look to gold as an indicator just yet why? a stronger dollar can suppress the price of gold still, At least for now.
Gold - It's make or break and it looks like breakFrom the bullish price action I discussed yesterday, price pushed significantly higher very quickly. Price pushed into the key resistance zone of 1205-1215 last night and this morning broke above, reaching as high as 1218. This 1205-1215 zone was a critical zone to hold as it is a major road block to gold putting in a real bottom. Unfortunately for the bulls, price was slammed back down and formed a very bearish evening star pattern. Due to this weakness and golds inability to hold above this zone I think we could see price tumble back lower to trend line support(1200), first key support(1190), and/or second key support(1166).
GOLD XAUUSD GLD - Price nearing critical supportPrice has sold off hard from the bearish price action analysis I did last week (those will be linked to this post). As I pointed out in my analysis last week, the bearish price action offers an opportunity to get short and once price drops to the 1215-1205 range we can switch from a short position to a neutral/short to then profit from the high implied volatility. If price reaches key support those would have allowed a trader to profit around 50 handles from a directionally short trade, and then likely collect another 50+ handles from short premium, assuming price starts moving sideways or pops a little bit from this 1200 support range. I hope this specific setup makes the case to all traders that trading both directionally and neutral/short premium, and being able to fluidly move between the two strategies, is a superior way to trade.
UPDATE: Everyone is calling for Gold $1,200, is the low in?Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
GOLD / GC / XAUUSD - Bearish inside bar fake-out patternIn this video I talk about the bearish inside bar fake-out pattern that has formed on the daily charts in the gold futures market. I cover a short educational lesson on the important of market key support and resistance levels ahead of time. Finally I cover some potential entry / stop loss / profit taking levels for short sellers.
WEEKEND REVIEW: Fed are DONE for 2018, Silver is a BUY tgt $22Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
UPDATE: All aboard the GOLDen rocket, target $1,600Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
UPDATE: Silver in a perfect area to BUY, target remains $22Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
WEEKEND REVIEW: Gold over Bitcoin, easy decision!Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
GLD - Selling put options from key support levelsIn this video I discuss key support levels where selling short options for both premium as well as direction(if price bounces higher off of key support) can provide a highly probably and profitable trade setup. There is far more to options that I can fit in a 10 minute video but if you are unfamiliar with them I encourage you to research options. They can add variety to your trading portfolio, increase profitability, and reduce draw downs.
