BlackRock's Bitcoin ETF flips its Gold ETF in market capIt's insane how quickly BlackRock's NASDAQ:IBIT Bitcoin ETF surpassed its AMEX:IAU Gold ETF by market cap.
Digital gold is better as IBIT tops $34B in assets. Digital gold FTW.
IAU trade ideas
GOLD can be a defensive asset, as geopolitical risks still highCaught in the twin grip of elevated US yields and a stronger USD, Gold may be on the defensive over the near term unless geopolitical risks still escalate.
Escalating geopolitical and trade risks are playing an increasingly supportive role in Gold prices, engineering rallies that are likely to stay high in 2024.
Gold Price Clinging to Highs Under $2'000. The bias remains bullish despite minor retreats.
A new higher high may activate further growth. Only a valid breakdown below the pivot point opens the door for a corrective phase.
The gold price resumed its growth today, reaching the $1,990 level.
The bias is bullish despite minor downside corrections. OANDA:XAUUSD returned higher even though the Dollar Index rallied after the US Flash Services PMI and Flash Manufacturing PMI announced expansion.
Gold has taken its position as a safe haven value asset. Over the past several years Gold trades on positive path, where short-term average (1yr SMA) still above long-term average (5yrs SMA) for a 6th year in a row, since Q1'18.
The main technical graph says, that potentially technical figure known as "Reversed Head and Shoulders" is in progress, with further upside price action in a case of return back, above $2'000 per ounce.
The main graph is for iShares Gold ETF AMEX:IAU that seeks to reflect generally the performance of the price of gold.
Gold to fall for the next 1-2 months
Bouncing off the top of the LuxAlgo
Retail is buying for fear of the current economic uncertainty, so it's a good time for whales to squeeze the longs (and create even more uncertainty/FUD, to be exploited later)
JP Morgan has a huge short position
Multiple indicators are all pointing to an oscillation reversal (e.g., MACD about to cross down, RSI about to cross down, etc.)
I don't expect the price to reach too low. Around $34.88 for the IAU ETF.
Gold ETF growth hypotizeIdea:
Retest of 34.66 level. Change of local falling trend
SL: 34.57
Buy: 34.79
$IAU - Short GoldThis is a really simple trade. Here is a weekly candle chart showing nothing but weakness. Gold failed to breakout on any time frame. Now, it is threatening two plus year support.
If the support breaks, and only if it breaks, take the short side of the ledger. Ticker: $IAU iShares Gold Trust.
falling wedgeIt is an example of falling wedge on ETFs. This exercise is useful to learn about the charts! Practice is everything!
IAU - You'll be saying IOU...IAU looking tempted make a run this year.
1st - Probability Convergence Curve
Moving towards upper convergence.
2nd - Volume Curve
Near highs. The inverse correlation of this and the Derivative curve is a bullish sign.
3nd - Derivative Curve
Close to flipping up. Notice the shorter timeframes are trending higher ahead of it.
4th - Volatility Curve
Poised to pop in the next quarter, will take price directionally with it.
IAU - I think gold can rip this year (they say this every year?)Listen this boomer AF trade looks like it might finally go, monthly pennant, all gold charts are setup for this right now. plenty names. big and small. Check out XME monthly chart. Bullflag breakout. GDX/GLD. Pull up the yearly chart on gold tickers. 3bar up. Buying few months time / commons on this should be okay. Slow mover. Set it & forget it, semi - liberal stops
IAU Gold ETF perfect symmetrical triangle.Weekly bars here. Pretty perfect triangle if Ive ever seen one. Watch for a breakout either way very soon, as these normally only make it to like the 80% point of the triangle before going through one of the two trend lines.
Gold could present an entry for longs at 38.2% FibonacciI am using the IAU ETF as my trading instrument to represent the Gold spot market. Looking at the Fibonacci retracement starting from the 2016 low of $20.44 and extending to the August 2020 high of $39.14, we see that the top two retracement levels are in play. The 38.2% level tends to be the most common for handy support and resistance levels. We saw price action move freely at both sides of 23.6%, although recently it has acted as resistance.
Soon we could have an opportunity to go long near the 38.2% level, around $31.75. There is some way to go, but gold is falling today in what is so far a very bearish day for equities. Gold can be a good hedge if equities turn sour, especially with a backdrop of rising inflation. Whether inflation is transitory or reason for greater concern remains to be seen. With the FOMC meeting this week, risk is high. Eyes should remain on gold this week.
Gold on the Fibonacci, good entry point?Gold has been working very well with Fibonacci retracements following the bullish trend starting in 2016
IAU who expected this move?!We didn't expect this type of move on IAU (we expected a return to 21 really) but welcome now we can almost retire.
Still searching for news if anyone has any on IAU it would be welcome.
My gold ETF IAU, Looking at prior price activityI scaled back my gold and put that money into Ethereum several weeks ago. Gold has been working its way down and although is showing signs of life (along with silver), it doesn't yet pose a big opportunity. I'll be watching the current up-tick to see whether we break out of the channel permanently, or whether we then resume down back down into the channel.
Charting out a gold reversal, upcoming re-entry points I've been holding onto gold far too long in this downward trend (the last time we appeared to be breaking out of the channel). I've been scaling back on this downward trend line. Gold and Silver have to reverse at some point right? Not so far they haven't. There is a lot of chatter about a 'long overdue' reversal in gold and continuation up, but at what point?
IAU is a gold ETF that holds physical gold in a London vault (no paper contracts). It tracks along with SVR but without the drama.
This was a good opportunity to look back at the trend lines and try to determine where to enter. We are coming up on a number of support areas but the most likely one that we can reach if we re-touch the downward trend line is around 15.80 or so. We could reverse at this point but so far no confirmation.
I'll be applying the 'confirmation and resumption' before re-entering.
GOLD: Keepin' it RealWhat would you do?
There seems to be heavy resistance at 18.50 and no real exciting support until 16.50.
The previous stimulus checks don't seem to have really moved the price of gold. Where's the inflation?
Normalized by DXY:
Anticipating a breakout to the upside in gold via IAUiShares Gold Trust (IAU) is a passively managed ETF that seeks to match the movement of the price of gold. It provides an investment vehicle for gold by backing shares in the ETF with gold bars held in trust.
After a steady recovery from the trough of March 20th, a trend reversal starting on Aug 5th manifested as a descending triangle (or perhaps a large pennant) that broke out to the downside after 7 weeks.
However, this downside breakout was rebuffed by buyers, perhaps due to the economic and political uncertainty surrounding the pandemic as well as the US presidential election, which at the time of the turn around was 40 days away.
The ETF saw a 4% increase in value over two weeks and has settled into an ascending pennant where resistance is being tested and the lows are higher.
I anticipate a breakout to the upside if the bottom ascending line holds, especially as we near the US presidential election (Nov 3rd). This breakout may occur in the days leading up to the election, or perhaps right afterwards.
Let me know what you think in the comments!
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These ideas are presented as a topic for discussion and do not represent a recommendation to trade a security.
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GOLD keep breaking all time highHHHL + Y1<Y2
X2 is around the same length as X1 now. It should make a reversal up soon.
It is also a good sign that the angle of X2 is a lot flatter, rather than steep.
got power up if W&R success.
Long Put IAU May 15 '20 $14 Put @ $0.15Volatile market. GLD too expensive, high premium. IAU excellent alternative.
Shorting Gold for IAU $140 Strike at $0.15. GLD/Futures approximately high 140's.
