Longgold
TREND IS YOUR FRIEND - LONG GOLD !! Good Day Traders!
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Why LONG GOLD?
Good risk reward : > 8
Current level is near to support of 1600 level.
Trend is going upward.
Healthy retracement @ level 1600.
Why not then? :)
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Cup and handleI am sorry for the mess, however, a nice cup and handle seems to be almost formed, missing just the handle now. this upward bounce will end at 1750 - 1800 to drop down to 1550 ish and then all the way up to 2950, need confirmation on the resistance on upcoming months but a very profitable trade is setting up so far.
CDE - attractive entryNYSE:CDE is one of the most volatile ideas in the gold mining space. So if enetered correctly it offers relatively quick and attractive rewards.
Currently idea is retesting major support level, through which it broken up in early November. And if uptrend is to continue in this miner, should not go much lower than current spot.
I am entering with idea to hold it as potential long term holding.
Gold is coiled for a breakout...Next week!
Gold prices had been consolidating within a triangle and it appears just about ready to break out of the triangle. Marked out the breakout point on the chart, and on the triangle.
The Sell signal should be invalidated and next week brings a new Buy signal.
Clearly MACD is bullish and supportive of a breakout!
Good upside to 1780-1800.
GDX - Strong Buy - Crossing 10WeekMAGDX buy signal on Daily.
About to cross 10WeekMA for strong bullish continuation. Anytime 10Week is crossed we see bullish confirmation (weeks).
Trend turned bullish on Filter Dots.
Gaps to fill above in the $30's imply over 30% gains from current price. Not sure if we get this high, but bullish trend just starting today/tomorrow.
SPY looking to go down soon. VIXY looking to go up.
Only makes sense that GDX becomes risk on (as confirmed by the moving average proximity to current price).
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.