$GLD Positive Momentum DivergencePositive price divergence with MACD and RSI indicators. Playing long to the upside of the falling wedge channel, roughly coinciding with the 50-day MA.
GLD trade ideas
Does Inflation Hurt the Value of Gold? Channel Down. Not looking like a buy point for me.
But why?
Gold does not generate a yield. If interest rates continue to rise and you’re holding gold, you’re forgoing the interest income you could earn on dollars if you put them in a bank account or invest them in bonds. Maybe that’s why rising interest rates tend to create headwinds for gold. Dunno.
The markets expect the Fed to fight inflation with more rate hikes, thus decreasing the appetite to hold holding gold. Maybe? This is just one of many hypotheses.
I am not sure but I check it every so often.
It appears Gold is moving with the market for now like the coins are. Gold is having some short term buying opportunities here and there, only to go back down when the market does
another somersault.
"Even based on the government’s flawed CPI, inflation rose by about 7% in 2021"
A random economist.
No recommendation.
“Gold is money. Everything else is credit.” – J. P. Morgan
GLD ready to riseGLD got beaten up for years. Expecting a small little spike down to 154/155 and then climb. Inflation and high rates are here to stay. Why would GLD not rise?
$GLD Gold looks good for a bounceI went long debit spreads this morning on GLD, looking for mean reversion to 21DMA at the least
Technically bulls have stepped in right where they needed to prevented further breakdown and defending the 157 zone support line that's played as a major pivot zone for 2+ years now.
Quick move to $162 is first PT
GLD is repeating the same bullish setup it had in March 2021Recently GLD has followed a set of movements which have an uncanny resemblance to what happened in 2021. The last time this set of movements happened, it was bullish and returned around 13% in a month. This is combined with a strong support level at ~$158, a bullish inverted hammer on the previous bar, and two recent doji stars, which indicate that the downtrend may be weakening, and so I'm bullish overall on GLD, with the idea in mind that the trend will reverse.
I am going long at around $159.3 a share, with a profit target of 5.51% to the nearest resistance level, with a tight stop loss at around 2%.
$GLD ends on an inside month at a weekly supply zoneNice bounce area for gold as it hits this weekly supply area on a month that didn't break July's highs or lows.
GLD 4 hour EW wave count4 hour GLD has recently finished the 5 wave and is in the b wave of the abc correction. Look for upside to the high of wave IV soon.
GLD: Cooling off 💦It is still summer, so no wonder GLD wants to refresh itself in the upper blue zone between $163.03 and $160.17, into which it has leaped so enthusiastically that we have to wipe droplets of water from our faces, watching the chart. Here, GLD should now finish wave (ii) in blue before resuming the overarching upwards movement. However, as part of our secondary scenario, there is a 40% chance that GLD might need more refreshment and thus could jump below the support at $158, diving into the lower blue zone between $159.23 and $152.88. There, it should then do a lap to complete wave alt.(4) in yellow before rising again.
Go GoldLooks like a time for correction. Two scenarios based on 50% and 61.8% retracement basis. Stop loss placed at 157.
GLD at an interesting price level. GLD at an interesting price level. Possible squeeze incoming off 157 support level.
Offering a good risk reward for longs.
A similar support level seen on VXX.
#GLD approached massive horizontal support zoneGLD ETF has reached a significant horizontal support level which has been in play for over 2 years now. Will we get another bounce off this level? Also interesting that this support is intersecting at the weekly 200ema. Not a bad risk reward to try play a reversal off this significant support as your risk can be quite limited
A bearlish scenario for Gold Gold faces many obstacles, but recession fears could help...
The gold market tumbled $40 Thursday and briefly fell below the $1,700 an ounce level as markets began to price in an oversized 100-basis-point rate hike from the Federal Reserve at the July meeting.
Rate hike expectations were quickly re-priced after the latest U.S. inflation numbers shocked the markets, with the annual CPI number coming in at 9.1% and the yearly PPI rising 11.3% in June.
Before inflation data, markets were looking for a nearly 100% chance of a 75-basis-point hike at the Fed's July 27 meeting, according to the CME FedWatch Tool. However, within 24 hours after the numbers were released, the expectations shifted to an 80.9% chance of a 100-basis-point hike. This would take the fed funds rate to a range of 2.50%-2.75%.
"Only yesterday morning, the market had just finally priced in a full 75bp rate hike in July for the first time. In a few hours, an above-consensus U.S. CPI reading and a surprise 100bp rate hike by the Bank of Canada changed the whole picture again. After these two events, markets have moved to seriously consider a 1.0% rate increase by the Fed in two weeks," said Francesco Pesole, FX strategist at ING.
The Bank of Canada surprised the markets with a 100-basis-point hike on Wednesday, warning that inflation will remain elevated for the next three months.
"The Bank of Canada made the leap into triple-digit hikes shortly after the U.S. CPI release, acknowledging in the process that it had underestimated inflation since Spring last year," said Craig Erlam, senior market analyst at OANDA.
Gold blessed chartAs you can see, the monthly has created a beautiful cup and handle; this is why we must long. The breakout is about to happen. Enjoy the ride.
$GLD short ideaThe Dollar is breaking out causing foreign currencies to fall under pressure. The Euro continues to breakdown and the Japanese Yen as well. This is putting pressure on commodities such as Oil and Gold.
$GLD is breaking down through supports, targets to the downside are 158, 155, and 150. Possible round trip to Covid lows. Hang on tight Peter Schiff!
OptionsSwing Analyst
Daniel Betancourt
GLD at 200 Daily MA.Sitting on the 200 MA.
Solid support at 169.
Resistance at 173.5
Resistance at 174.5 over that is a breakout with 176 confirmation.
DYOD
I am long 1 share to watch it. Just a quick chart for that.
See GOLD CFD chart below
www_tradingview_com/x/fuGky4qE/
GLDNice little setup in gold. Trying to double bottom off of weekly demand. Looking to grab some next week if this week closes strong.
GLD Bullish Engulfing 177Bear trap and rally to top of range. Need to see follow-through. If GLD above range, stay long to 177
$GLD Looking to Breakout? $GLD Broke out on the week of Feb 14, 2022. Then came back in to retest the prior low. It did not exceed that low. Notice a series of Higher Lows. Looks like we are at or near an area of resistance. I will be looking to take this long over the resistance area with a tight stop just under that area if / when it breaks above it. Target old highs. All TBD. Notes on chart. Ideas, not investing / trading advice.
#GLD $GLD not a time to waste , keep adding few shares at a timechart speak for itself , potential upside and volume noted already , see $GDX
big boys are scared of something, but we profit ..
Bullish BatPossible stop below D or where you see support.
No recommendation.
This was looking like a Gartley and the 2nd leg nailed the .618 like a Gartley is supposed to do. However, the last leg overshot the .786 and landed just bellow the .886
Long GLD at 173.02www.tradingview.com
Borrowed this trade from the man Gareth Soloway.
Inflationary pressures, dollar headed down makes this a logicalplay.
$GLD - seems like a solid contrarian levelJust some basic Chart Analysis. Suprised it actually retraced all the way back to the breakout level for confirmation (all things considered in macro and equities).
Doesn't seem to be a bad entry on HTF. Clear s/l around 160. NFA. DYOR.
/GC hit my low todayThis may NOT work at all, but back on March 26th I "asked" in meditation, or quiet time, "What is the next low in /GC?" Answer was 1839.
I don't track gold every day or anything, but when I looked today I noticed price has gottent to the drawing on my chart for a low at 1839! So it was exciting to see the LOD is actually 1838.70 and it's bounced since. Anything can happen, of course, but I do have some other information to look for a move up in miners in June. So maybe this is the start of it. I hope, but this should be a longer term low if it works.
