Expired GLD Weekly outlook. 5th WK OCT 2024Expired GLD Weekly outlook. 5th WK OCT 2024
> BULLISH 📈 HIT
Prior Week Closed Price: 253.32
This Week Target Price: 254
Strike Price: 257.71 on OCT 30, 2024
Upper Range: 258.17
Lower Range: 250.97
Gld_spy
Expired GLD Weekly outlook. 3rd WK AUG 2024Expired GLD Weekly outlook. 3rd WK AUG 2024
> BULLISH 📈 CORRECT
Prior Week Closed Price: 231.99
This Week Target Price: 233.66
Strike Price: 234.01 on AUG 20, 2024
Upper Range: 236.72
Lower Range: 230.59
Expired GLD Weekly outlook. 2nd WK JULY 2024Expired GLD Weekly outlook. 2nd WK JULY 2024
> BULLISH 📈 CORRECT
Closed Price: 220.93
Target Price: 223 | Strike Price: 224.15 on JULY 11, 2024
Upper Range: 226
Lower Range: 221
Expired GLD Weekly outlook. 1st WK SEP 2023Expired GLD Weekly outlook. 1st WK SEP 2023
> NEUTRAL 📊 CORRECT
Closed Price: 180.11
Target Price: 179.67 | Strike Price:178.64 SEP5
Upper Range: 185.15
Lower Range: 174.19
GLD: Topping Soon#GLD #GOLD looking like its close to a top in the macro channel and on its way to 195. Levels and ideas in video! Would think a short around 195 is possible and good r:r. Not financial advise.
Bull trap or legit? More down Gold Will Like THIS CHARTIs this recovery a bull trap? or are we still going to drop? If you say you know- hell maybe you do because I don't. All I know is Gold is Gold and could run if the price goes up lol.
Gold - XAUUSD weekly chart break below 200EMA.If we look at a WEEKLY big picture chart we can see how important this 200EMA has been. Apart from important recent horizontal lows we can see how a pattern of diagonal support/resistance channels has been established. If a retrace back to the initial breakout zone happens..... then even 1128.71 USD would be a possibility.
My Plan for GLDCurrently, GLD is in an consolidation channel. I believe it will remain in this channel as the SPY continues to test the all-time highs.
My plan is to set a limit order for 117.80 with a stop at 115.91. I believe that the SPY has some more room to rally which will get us triggered into this trade as GLD pulls back.
The SPY is also in a channel and has been sprinting in the opposite direction whenever it hits support or resistance of that channel. That fact + the fact that GLD is consolidating = confidence to believe GLD blows past resistance and hits the target for a gain of 6:1.
****For a a safer and less aggressive trade you can move your stop down to 114.77. This would provide more relief from an SPY rally and possible prevent the trade from being stopped out if SPY has a false break out above the all time high.
GLD Defying SPY for Bullish BreakThru RunAs we all know the SPY and GLD have an inverse relationships. When the SPY goes up, GLD goes Down. However Gold has been going up and so has the SPY. More so, as the SPY comes into its all-time highs, GLD appears to be consolidating at its 2016 all-time highs.
Both are at their all-time highs for the year but gold has been consolidating (resting) at these highs for the past 2 months rebuilding energy to break thru future resistance, while the SPY may be out of breath from the sprint it has made to the all-time highs in the past 2 months.
With that being said, I plan to take my profits from the SPY as we hit these highs, and put them into gold.
GLD/SPY - start to monitorNothing yet - just to get started, as gold and gold miners are extremely depressed and sentiment is at extreme as well. Monitor and get ready when trend begins to turn, if ever.
GLD and SPY correlation studyGLD/SPY ratio starts to break out. August 2008 had a similar breakout, and in the following 18 months, SPY lost about 50% and GLD gained about 50%. Is it happening again under our eyes? Who knows. But this is something we certainly should keep two eyes on!
