GLD Short SpreadPut Spread on GLD 143/138
Cost is $2.14
EXP is Oct 18
Max loss is $140 Max gain is $190
Gold is starting to go down as market is being sated by good trade news.
GLD trade ideas
Gold Turning Down From Important ResistanceThis is a follow up to my 8/8/19 GLD post. There was expected resistance in the zone around 50% retrace of the last Gold bear market. Gold and the ETF - GLD marginally exceeded the target with significant bearish divergences. Since the peak, daily MACD and Stochastics have had line bear crosses. Daily RSI has a bearish divergence.
If the Elliott wave count illustrated in my 8/8/19 post is correct, GLD has potential to retrace at least the entire rally since the bear market bottom. Gold price could ultimately reach $900 to $1000 zone.
GLD first support zone is in the 130 to 134 area.
Mark
Gold Play off EMA's More Bearish than NotUsing EMAs 13-34-89 Strategy, we see a solid hold on 34day. A break below could run down to 89day especially if markets continue bullish. Below im open for weekend swing SHORT. Closes friday above 34day small bullish position swing over weekend. 9-5-19
GLD (Wkly) Bear Deep Crab w/ ML setPrice sets up a Deep Crab as it is interacting with the upper Median Line. TP1@.236 TP2@.386
Gold analysis September 2019Pitchfork. If the futures do not gap the resistance Tuesday morning I will be shorting near market open.
My other charts I posted recently don't agree with this one.
My assumption is it will be gapped over resistance.
Unless it is going to sell off with market this week.
Which the way the global economy looks I doubt.
But every time every indicator says sell trump pulls a magic tweet out of his hat.
Will be on stand by looking for a direction to go with this.
GLD: SPDR Gold TrustM timeframe long-term BULL
W timeframe overbought mid-term BEAR
D timeframe overextended short-term BEAR
SUPPLY price reached suppy zone short-term BEAR
CORRECTION 50% fib retracement short-term BEAR
RSI overbought short-term BEAR
MACD divergence turning negative short-term BEAR
EXPECTED INFLATION after rate cuts long-term BULL
GDX short interest increased BEAR
GOLD/DXY ratio decreasing short-term BEAR
GLD shares otstanding decreasing BEAR
TIP lagging behind GC1! futures NEUTRAL
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Should you buy GOLD? Is it a good hedge?GOLD broke out of multi-year resistance in August of 2019
Showing extreme strength
Recently ran into secondary resistance of around $142-$144
If we surpass $144, GOLD can see levels it hasn't seen since 2011
Between 2011-2012, GOLD traded between $150s-$180s.
$GLD shortGLD has hit major resistance around $145. In addition, it is forming a shooting star on the weekly chart.
After three months of green weeks, GLD is definitely due for a correction.
It will likely find support around $136
Is gold going parabolic?After finally breaking out of this massive symmetrical wedge is gold now going parabolic? There is a lot of fundamental drivers for gold ranging from global concerted central bank easing, that is quickly turning into a currency war, add to this a trade war slowing growth, and increasing geo-political risk.
Time for a Gold pullback - September 2019Gold should pull back here after hitting major resistance at 50% retrace from the all time high.
I'm bullish on gold long term. However, with the current overbought levels (RSI touching 85), its time for a pull back to confirm the highs from last 5 years as strong floor/support for the coming bull market.
(Thanking @markirvest for posting a similar idea with more detailed info)
Entry at 143
Stop Loss: 145
Target1: 136.7
Target2: 132-130
Timeline: 1 month
Daily GLD stock trend forecast analysis19-Aug
pretiming analysis
1. Recommended Positions
=> Long-Bullish
2. Price target within 10 days in the future
Stock price: 146.22 ~ 147.33
% Change: 3.62% ~ 4.41%
3. Investing section
=> In Rising section of high profit & low risk
4. Supply-Demand(S&D) strength Trend
=> In the midst of an adjustment trend of downward direction box pattern price flow marked by limited rises and downward fluctuations.
5. Today's S&D strength
=> Supply-Demand strength has changed from a weak selling flow to a suddenly strengthening selling flow.
6. Forecast Candlestick Color at tomorrow
=> GREEN Candlestick
7. Forecast Timing Chart of 10 days in the future
www.pretiming.com
8. Forecast Range % D+1 (C): 0.36%
(L) ~ (H) Range: -0.28% ~ 0.89%
9. %Average in case of rising (C): 0.83%
(L) ~ (H) Range: 0.06% ~ 1.07%
10. %Average in case of falling (C): -0.28%
(L) ~ (H) Range: -0.62% ~ 0.30%
Over Bought Gold Near Major ResistanceGold and the Gold ETF - GLD both have weekly RSI readings that are the most over bought since the all - time high.
GLD is close to a 50% retrace of the bear market from the all -time high at 143.04
The wave (B) of a probable "A-B-C" rally appears to be an Elliott wave - Horizontal Triangle.
After conclusion of an H Triangle there's usually a post triangle trust - which has happened. The trust is measured by the widest part of the triangle.
Wave "A" = 23.86 + termination point of wave "E" 119.54 + 23.86 = 143.40.
If there's a peak in the resistance zone the subsequent decline could go at least back the bear market bottom of 100.23.
Mark
$gld is not done yet. Inventory gap needs filled aboveWill likely reauction the 145-150 zone since it wasn't done on the drop.
GLD (SPDR Gold Trust) Technical AnalysisWhile stock market investors have been chasing the market rally this year, central banks and hedge funds have been quietly buying up Gold over the last half a century. Major hedge funds including Bridge Water Associates founded by Billionaire Investor Ray Dalio have increased it's holdings in SPDR Gold Trust in the second half of 2018.
The long term trend in Gold remains in tact and SPDR Gold Trust remains above its 50-Day and 200-Day MA. The feds recent comments and disappointment to the markets on a 25bp rate cut show a growing trust in the metals value going forward.
GLDI'M in a couple of puts here... I would think with the fed rate cut this would come back down some. Thoughts?
