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GLD trade ideas

Spot Gold ETF GLD going to $270It may take a few years but GLD has formed a cup and handle over the last 12+ years. The cup was formed from 2011 to 2020 with the cup top at $185. The cup bottom is at $100 in Dec 2015. The handle has been formed from 2020 to the present. The target for this cup and handle is: Cup top + Cup Depth = Price Target $185 + ($185-$100) = $185 + $85 = $270 The target price is 46% over the current price. This would be a good profit but it may take a few years to get there since the cup and handle took 12+ years to form.
AMEX:GLDLong
by shubbs
90% win rate 🚀 Unveil an easy $GLD Call Play with naked #goldHey everyone, Greg is here with a quick rundown of today’s options trading play. I entered the ring with a naked call on AMEX:GLD , aiming for that sweet spot of easy returns on a maximal Pop trade. Today’s golden ticket could net me a max profit of $118 with a probability of profit (PoP) sitting pretty at 80%, all while tying up $3000 of buying power and riding on an implied volatility rank (IVR) of 20%. The game plan was simple: watch the market, play it cool, and have a couple of scenarios up my sleeve: (Scenario A) If the price hikes, I'll pivot to a strangle, balancing out with a sold put to accompany my call. (Scenario B) If it looks like easy money, I’ll lock in those gains and close out the current trade, quick and clean. The strategy is all about simplicity, with an exit plan to bow out gracefully at about 65% of the max profit. As of today, November 5, 2023, that naked call is open and I’m in the market. To wrap it up, here’s the play-by-play for today: Date: November 5 , 2023 Strategy: Naked Call on AMEX:GLD Opening Credit: $118 Expected Profit: Exiting at ~65% of max profit Probability of Profit (PoP): 80% Required Buying Power (Req.BP): $3000 Implied Volatility Rank (IVR): 20 Current Position Balance (as of opening): $118 of credit (1.18cr) Stay tuned to see which scenario unfolds and how the trade’s balance shifts in the coming days. Keep it easy, folks!
AMEX:GLDShort
by TanukiTrade
$GLD Cup & Handle Monthly Chart### Technical Analysis Update: AMEX:GLD Cup and Handle Formation on Monthly Chart The SPDR Gold Trust ETF ( AMEX:GLD ), which tracks the price of gold, is exhibiting a notable pattern on its monthly chart known as a 'Cup and Handle' formation. This pattern is of keen interest to technical analysts and investors, as it often signals a bullish continuation trend. #### Understanding the Cup and Handle Formation The Cup and Handle is a bullish chart pattern that resembles the shape of a tea cup. This formation typically occurs in an uptrend and is indicative of a consolidation period followed by a breakout. 1. **The Cup**: This is formed when the price first experiences a gradual decline, followed by a stabilization and a rise back to the original starting point. The price movement during this phase should be rounded and shallow rather than a sharp V shape, and it usually spans several months to a year. For AMEX:GLD , the cup formation suggests a period of consolidation after an initial sell-off, followed by a gradual and steady recovery to the previous highs. 2. **The Handle**: Following the cup, a small downward drift in the price forms the handle. This is typically a retracement that does not go below the half-way point of the cup. The handle represents a final consolidation or a shakeout of less committed traders before a potential breakout. It's often seen as a bullish flag or pennant. #### Implications for AMEX:GLD For AMEX:GLD , the appearance of a Cup and Handle pattern on the monthly chart is significant. It indicates that after enduring a period of correction and consolidation, the ETF is potentially gearing up for a continuation of its prior uptrend. #### Key Points to Watch - **Breakout Point**: The critical level to watch is the resistance line formed at the top of the cup. A convincing breakout above this level on increased volume could signal the continuation of the bullish trend. - **Handle Formation**: The depth and duration of the handle are crucial. It should not drop significantly into the cup and should show signs of stabilizing or minor retracement. - **Volume**: A genuine breakout is often accompanied by higher-than-average trading volume, adding confirmation to the pattern. #### Trading Considerations Investors and traders considering positions in AMEX:GLD should closely monitor the completion of the handle and the subsequent price action. A breakout above the cup’s rim could offer a potential entry point, while a failure to break above or a drop below the handle might necessitate a reassessment of the bullish hypothesis. As with any technical pattern, it's advisable to consider the Cup and Handle formation in conjunction with other fundamental and market factors. This comprehensive approach helps in making more informed investment decisions.
AMEX:GLDLong
by AlgoTradeAlert
1
Long trade on GLD ETF buying the correctionAm less likely to look up a symbol of what am trading as not to build an emotional reaction to the trade. Am more concerned with the story the price chart tell me. Everything that everyone knows is reflected already on the price chart. Supply and Demand tell you a story. Learn to listen to it. In this trade, we are looking at the most popular traded ETF for Gold. The setup is one of my best trade setups. The long-term chart (M) is in uptrend. The current chart(W) is in a downtrend mostly a correction. Price arrives in a Demand zone on the current-chart(W); providing a low risk entrance into the trade. the STP loss is below the Demand zone. and the trade is open. Blue arrow. The stock market is bearish, the Gold react bullish. standard relationship as the big money withdrawal out of liquid stock into a temporarily safe haven of gold. History is predictable here.
AMEX:GLDLong
by greatful-me
New bull market in Gold As per my Elliot Wave* analysis, Octobers low may mark the the mid-term bottom for gold and price has started to work on building the right hand side of the cup. As long as 168 holds, I would expect the price to move towards next important resistance area 194-200 area. Ideally build a hand of the cup after reaching that level and break-out above 194 towards important next targets: 212-224-230. Also notice the "Mona Lisa" of cup-and-handle pattern in GLD on a monthly time-scale The symmetry and volume dynamics, that subsides in the handle area, is almost picture perfect. Trading thesis : I will be looking for price to digest its rally from Oct lows, preferably around 177-180 area, creating a cheat pivot and relatively low risk entry point. This entry, if materializes, may create a good long-term opportunity to build position for the coming 2024 and potentially beyond. * Important caveat to EW: I use it solely to have a subjective idea about sentiment and overall structural context to support, but not guide, my investing decisions. Price and volume is the key, and only price pays, not the fibonacci resistance or any wave count.
AMEX:GLDLong
by artemfedorov
$GLD Gold Has a Double BottomIn technical analysis, a "Double Bottom" pattern is a bullish reversal pattern that typically signifies a potential change in trend from downward to upward. In the context of AMEX:GLD (Gold), spotting a Double Bottom pattern suggests that the asset has tested a support level twice and rebounded, indicating strong buying interest at that price level. This can be interpreted as a sign that the downward momentum is waning, and a bullish reversal is likely on the horizon. Investors observing a Double Bottom in AMEX:GLD would be watching closely for a breakout above the resistance level that tops the pattern, often accompanied by increased volume, as a confirmation that the asset could be entering a new bullish phase. However, as always, it's crucial to use other forms of analysis and indicators to validate any trading decisions.
AMEX:GLDLong
by AlgoTradeAlert