GLD BullishArea's of consolidation around key mean levels (20 EMA) reduce risk and usually lead to bullish moves. No specific price targets.
GLD trade ideas
$GLD Wedge Fake-Break LowThe first break of a range type formation is almost always a failure. This can be amplified even more if that fake-break goes against the larger trend which, in this case, it does. Buyers have a LOT of reasons to look for continuation up and a higher low would be a great ticket to the show.
Gold Trust GLD updateStill expecting another low in ~160 range. Watching for possibility that it has turned bullish. It looks better than SLV does off recent bottom.
GLD/SLV RatioWe have bounced a little as gold and silver have corrected from their summer highs. Traded down to the impulse leg target and the next leg down should be coming soon. Like SLV action over the past couple days. Bought hard off the $24.50 bottom yesterday and couldn't even get close today. It's coming.
Inflation + GLD ($GLD $DXY $Sil $SPY #Gold #SPY)see full chart & Follow at www.tradingview.com
A while back, you may see me call the top on Gold because it was up 25% in the last 12 months. while market was only 7%.
Some things have changed since then, Gold came back down a bit, The FED (FOMC & Powell) have declared they would let inflation run wild.
Interesting pattern on Gold, as market is starting to dip. we may get a slight bounce opportunity on GLD, as people panic and move into gld as hedge.
What's my play?
I will probably sell GLD puts at $179 to collect options premiums.
What's the significance of this?
KEY TAKEAWAYS About Gold
-Gold has long been considered a durable store of value and a hedge against inflation .
-Over the long run, however, both stocks and bonds have outperformed the price increase in gold , on average.
-Nevertheless, over certain shorter time spans, gold may come out ahead.
Gold vs. Stocks and Bonds
When evaluating the performance of gold as an investment over the long term, it really depends on the time period being analyzed. For example, over a 30-year period, stocks and bonds have outperformed gold , and over a 15-year period, gold has outperformed stocks and bonds.
$GLD Continues to Act Right for Bull ContinuationGLD -- Gold -- appears to have defended against the descending triangle breakdown potential with a new round of buying/support above $1900/178.
Now, a squeeze through the sloped resistance line is likely.
GLD PT $194 or $170MASSIVE bull flag. Cup and handle forming at top of flag that might break. High target from flag pole is roughly $205. CH price target is roughly $188. Price target from the flag is about $194 (ATH). Failed flag should fill all gaps below and bring us to $170
Gold finished corrective 5 waves? looks like it is entering into a new phase of trading. If the count of ABCDE corrective wave is valid then the next wave COULD be an impulsive wave.
GLD on watchGold has been pulling back here for the last few weeks and has finally filled the gap and pushed back up.
Like the risk reward of starting to add here. Like it above the box. Don't like it anymore if it loses the low
of last week's candle.
Get gold while they are consolidatingGet gold while they are consolidating
I will buy from 180-186 as we move sideways on this for a week or so.
We all know what will happen next year with inflation and gold so be ready for that.
GLD shows investors aren't selling yet!If you're ever wondering whether or not the market is looking rocky, a good way is to look at Gold -- money will flow out of stocks and into commodities as a hedge, and in this case, GLD is holding within this symmetrical triangle. However, if GLD looks like it's consolidating here with the oscillators indicating strength. This *could* be a sign that investors are preparing to hedge their portfolio and are expecting a market selloff sometime soon. Watch these levels, especially towards the end of the month!
Now the upper BB looks much betterLooks like it wants to go higher. But option trades should be triggered by b/o trend line. Otherwise, could be killed by continuation of the triangle.
Stay patient or use equity.
#GLD 1 Month #DescendingTriangle #Gold #ChartPatternDescending triangle is bearish in nature. A confirmed breakout (daily close below chart pattern support) could start the next correction phase for gold and take it down to $170/$169 area. I would also be playing the failed chart pattern (close above triangle down sloping line) for a run back to bull market high.
Possible GLD ScenariosFirst things first, all time highs are bullish. Let’s not forget that! When looking at GLD, that is the first thing I notice. Let’s have a look at the chart:
When a new all time high is reached, I like to use the Fib extension tool to pick some possible upside targets. Gold has formed a huge base of the cup and it looks to be forming a possible cup and handle.
For scenario 1, GLD goes to the 161% extension. The MACD is trending bullish on the monthly so this case is still a possibility. The RSI is really high at around 80. The RSI never stays around 80 for too long without pulling back. If we see this bounce off the 60 or 70 mark, the 161% extension looks very possible.
If the trend continues bullish, a logical resistance area is the 127% extension. The RSI would still need to hold round 60 to 70 for this scenario as well. If we fail here, I imagine we will put in our handle formation. Good re-entry points for the handle would be the 50% or the 61% retracements.
Scenario 3 is a near term failure. the targets here would also be the 50% and the 61% retracement levels. For this scenario, as long as the RSI stays above 40, the trend will continue upwards and the massive cup and handle will have formed.
Happy Trading!
GLD Ascending TriangleI realize multiple people have identified the ascending triangle of GLD and stating it's bearish trend. Since the initial trend was bullish, why wouldn't it break to the upside? Congress is 99% going to pass another stimulus package which would be a positive catalyst for gold and silver. Any thoughts would be appreciated.
