GLD potential Bullish Breakout Working on Medium Time Frame GLD moving towards 175 for a potential breakout. Looking for breakout in GLD once the resistance zone 163–165 is broken.
GLD trade ideas
GLD breaking out soon!For those in Singapore, on the Straits Times Index, O87 aka GLD is just about to break out of the triangle, having broken out of the MACD trendline, and into the bullish territory at the same time (yesterday).
This is a bullish indication, which needs a price break out of the triangle with committed volume to follow.
We will know as it turns into July...
Targets are 172, and up to 188 possibly in mid-August.
GLD Time to Shine!!Move to come will be explosive - I’m betting to the upside eow, and potentially continues the rally up to eom. $164C 7/2 or longer expiration seems to be a greatly profitable swing. Powell interviews this morning demonstrating the weaker movement of the markets. Hope you have GREEN days to come, good luck :)
GOLD consolidation for a bigger moveAMEX:GLD
I know that GLD will surely move up in the longer term ( 1-2 years)
The question is, will the MM start to move it up higher now? Or are they accumulating more buy orders in their book by engineering another sell down?
GLD making another run at the highsTake GLD long above box to targets. If price falls below the box can short to lower target or wait for pull back long entry at dotted line
$GLD breakout idea w/ Market weaknessAMEX:GLD breakout idea with AMEX:SPY experiencing weakness. This is all dependent on market gapping down tomorrow.
Like this idea over $165 for possible breakout to new highs. Fed Powell sounded pessimistic in my opinion and market trapped new money.
GLD - Knockin' on Heaven's Door!GLD is trading in an extremely tight range between the red and yellow lines and continues test overhead resistance from the peak in 2011. It looks to me like it is only a matter of time before it blasts through and attacks the all time highs. Very very accommodative Fed. This is where you must decide if you are joining the train. Either way, I'm just happy to see GLD knock knock knocking on heaven's door.
GLD Prepare to Long, V Pattern calculation V Pattern (XYABCD) FIB# calculation
YA= XY * 1.618 (also could be 1.13, 1.272)
AB= YA * 1.272 (also could be 0.786, 1.13,1.618)
BC= AB * 0.382 (also could be 0.5, 0.618 )
XD1= 1.618 extension of XY
XD2= 2.24 extension of XY
XD3= 3.16 extension of XY
I will create detailed trading plan according to following price action:
1. If Price goes into demand zone at least 10%
2. if any Reversal candle in demand zone
3. if any faulse breakout
4. If down trendline break near demand zone
5. If a breakaway Gap near demand zone
6. If Bounce up and cross over SMA8
I created similar V Pattern projection on SPY 3/27/2020. It had been proved by market price action.
See the linked Related Idea.
GLD Short-term Neutral AMEX:GLD GLD continues to vibrate in a box with the lower price at 158 and the upper price at 165. If the market continues its bull run, GLD may break the bottom of the current box range at early July (around 7/5) when it for the 4th time touches the bottom and when it reaches the underlying support line shown in green.
GLD - Textbook Consolidation!Since the breakout of the inverted head and shoulders move off the coronavirus bottom, GLD has worked on a near textbook sideways consolidation. This move is critical in that it is holding at the breakout point of the h&s breakout, but it is also holding support at the resistance line that marked the break of the three peak top from 2011 - 2013 that ultimately gave way to much lower prices (the red line). Even a break back below this support would almost certainly be met with buying first around $149 (blue line), and if that did not hold then the $143-145 area (bottom magenta line and a back up the truck scenario that could happen quick but would immediately recover). Personally I think the back drop for gold and silver is the most favorable it has ever been and it looks like there is nothing the government won't do to support this economy for as long as it takes. The mini bubble in equities has no bearing on the state of our economy and is just a continuation of how this year started which in my opinion is as bad as it was in the dot com era save the even more insane valuations. GLD also held an extremely important level in the midst of coronavirus at the $136 level. Many technicians and others were looking for a move below $130 to test the breakout of the failed moves in the prior three years around 128. GLD has had a perfect stair step move since its bull confirmation move that started in 2018. Look for some additional consolidation as it works of the RSI and MACD levels which probably do not have far to go. A break of the yellow line, and we will take out the old highs and put us into uncharted territory. Oh by the way, the miners will let us know in advance when the coast is clear. Look for a GDX 38. Two weeks should do it.
$GLD is Lined Up in Another Bullish ConsolidationGLD is still the classic option for allocation in a time of declining faith in the monetary authorities.
The question now for investors is this: will governments suddenly start to self-impose restraint on monetary and fiscal stimulus just because the economic data is starting to improve? Not likely, especially in the US in an election year.
$GLD is in a consolidation pattern for nowPeople are using funds from $GLD to finance their buying of stocks for now. Wait for a pull back in the market to get into $GLD. $GLD may just bounce around here for awhile before making its next leg higher.
GLD
1. GLD is in a clear uptrend
2. Price at the bottom of the range testing support
3. Stop at 157.75
4. Profit target 3:1
