GLD trade ideas
GLD/SLV - ready to fall?Finally a MACD cross on the 3 day chart. Extreme spike pattern looks similar to 2008. SLV has still only retraced about 50% of the losses sustained in March. I keep waiting for catch-up and it looks like it's coming. This ratio should be under 10 soon and SLV should be on its way to pre-selloff price action.
GLD - a long downward trend aheadGLD seems to have reached the end of minor wave 2 up. Minor wave 3 should last many months and should take prices to levels much lower than 136. As shown by the Commitment of Traders graph, speculators continue to be at record net-long positions in gold futures and at this junctures they are usually wrong as shown in history. FOLLOW SKYLINEPRO TO RECEIVE UPDATES.
Gold ETF GLD under way to a up to a 40% correction On March 2nd Gold reached the end of a primary upward corrective wave and began its path down in primary wave C. The correction should last around 2 and 3 years and can reach up to 40% decrease in its price.
Another big drop for GOLD aheadGLD finished wave 2 up. The next moves should be down with a total decline of more than 20% duribng the next few days. FOLLOW SKYLINEPRO TO GET UPTDATES.
Gold vs. SP500$GLD vs. $SPY weekly chart foing back to 2005. showing favorable strength vs. SPY of late
Potential H&S on GoldIndicators beginning to confirm it. Not in overbough territory so the upside looks good too. Will need volume pick to confirm it.
Stop: just below neckline
I've been looking to enter a longer term position on gold anyways
$GLD Holds Trending Posture on Declining Spec InterestGLD continues to hold the broad character of a continuing upward trend. BofA analysts just came out and raised their 18-month target to $3,000/oz for Gold prices, and CFTC data shows declining speculative interest.
Gold is going down ... at least in the short term.I see a Head and Shoulders pattern forming with the head just peaking a few days go. We should see gold move down in the next day or two.
I have 2 options for the right shoulder.
I use the DMI, MacD and Stoch RSI to point me in the which direction.
I also use Fisher indicator and Commodity Channel Index for entry point. (not shown)
I use the CCI as opposed to the RSI because I can get more buy signals with it.
LONG GLDGold Has retraced to a trendline support. This will be the third push for GLD. The middle of the trend is the easiest, and two symmetrical pushes have been confirmed. I have narrowed my entry to the high volume profile. I have set my sell stop at the high volume of the last tested support level. Profit target is measured move from symmetrical two swings, based off of line chart measurements. Divergence with CSI(20) and price action.
Awaiting GOLD pullbackAnytime, at this point, would be good to buy gold; as it's on a run. Expected target, 1900-2100 by next year.
Gold is still performing amid the global shut down.
$GLD is in a 1.5YR Bull TrendIt's a pretty well defined channel so is this the start of a larger, longer run? I recommending googling "trump gold fed".
GOLD in BEARISH ZONEGold had its rally, was fun while it lasted guys, Trump said USA will slowly reopen. So we GO LONG on the SPY and NASDAQ because it will pump HARD very soon. For the short term Gold could be in Bearish Zone. Good luck :)
