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GLD trade ideas

Gold making a bold move higher....As Bitcoin steals the limelight, gold quietly and gently breaks out AMEX:GLD #GOLD Gold put in its first all time high for a daily close This will likely end with an all time high by EOW or a highest ever weekly close. Unfortunately, this leaves me with a conundrum as gold is a risk off asset and if we see a substantial increase, its possible it could be a signal of a risk off move from the liquidity sloshing around out there. Funds have been allocating to bonds and money market funds as these lower risk fixed income assets provide an element of security during uncertain times and pay an interest yield. Gold offers protection and upside potential whilst providing additional protection against inflation. In any event, it could be that we are due this long awaited move up for an asset class that has been moving in a relatively tight range since 2020. The TA suggests the bullion bull gate may have just opened Keep an eye folks, PUKA
AMEX:GLDLong
by PukaCharts
GLD , the gold futures ETF LONGGLD is shown on this 240 minute chart with a falt top triangle drawn with upper and lower trendlines for resistance and support. A volume profile is overlaid. Text boxes comment on the basis for the trade and the use of the relative strength indicator. Price is low in the high volume area confluent with the support line. I see this as a long trade set up and ready to go. Zooming into a 15-50 minute time frame will help find the best entry. The RSI indicator would need to have its time frame settings adjusted I typically use one half the chart time and twice the chart time to get a decent time spread, Gold is forecasted by some to reach $3000 spot price in 2024. Gold and Bitcoin compete for dollar attention. Things will be interesting for sure.
AMEX:GLDLong
by AwesomeAvani
GLD, GOLD I buy gold options for March Gold - I am pretty bullish for all of the 2024, I am pretty bullish for all of the crypto(my fav are: BTC, ETH, LINK, SOL). I am pretty bullish for all of the stock market - I really like NVDA and AMD plays for swing and daytrades Few fundamental reasons why I buy GLD: - Banks and goverments are buying a lot of gold from 2020 till now, and we still have very cheap price for gold - a lot of conflicts, possibility of new conflicts(Taiwan, Gyjana) Technical resons: - 5 min.m 8/34 emas crossed on 5m.chart - we are above 200 ma - we tried to break 191 level, we still need break and hold hear and next level - 193-193.25 - we tried to break 2000 on gold a lot of times, once it will break and hold will see gold 2500-3000 per unce in 2024 - Its only 1 of my few ideas right one in the market the idea is not financial advice for entertainment only...
AMEX:GLDLong
by Veberloan
1
Looking for GLD to push lower to test Weekly or DailyGLD tapped off the Weekly level 185 and has held it for over a week now. I think it could just actually hold right here or push down into the Blue line / Green highlighter level Daily level 183 and find support before moving higher. There is a fresh Weekly Daily MTF level at the Pink highlighter 179. Which is where I would put a short Put strike trading this as a Put credit spread campaign. I'm not sold just yet on the 185 holding so just waiting. I like the 183 level better because it has a previous VWAP inflection there.
AMEX:GLDLong
by claypuzzle
Wave 3 to Push GLD to New HighsWave pattern is looking fairly clear, showing that we are in a Wave 3 now. A breakout of the recent highs should push price to 230 and above. When gold starts taking off, it will be moving over 100 a day, 10 points in GLD. Target price could be achieved fairly soon, probably by the time the Fed cuts rates. Many are expecting this in March. My strategy has been buying deep in the money Jan 26 calls. Also building positions in miners and streamers. GLD, NEM, WPM, FSM and a few others
AMEX:GLDLong
by AssetDesign
2024 Year for Gold Bulls GLD! This weekly analysis provides an update on Gold (ticker: GLD) following the last assessment in the high 170s. Notably, a bullish cup and handle pattern has emerged, taking the form of a more dynamic head & shoulders configuration within the handle. The handle, which itself represents a bullish head and shoulder pattern, is poised for a breakout from the right shoulder on the weekly timeframe, anticipated around the $191.77 mark. This pattern suggests a strong bullish momentum, signaling a potential upward trend. As we navigate the financial landscape in 2024, all indicators point to a promising year for Gold. Stay tuned for further insights and real-time updates as we closely monitor the charts.
AMEX:GLDLong
by candlestickninja
GOLD $GLD Trade Idea Another chart that I have been following for a little bit that I wanted to share with the community. Here we have the chat of AMEX:GLD We can see that AMEX:GLD faces strong resistance around the $190 price level. However, with that being said, we see that AMEX:GLD is on a short term uptrend. In addition, the moving averages are all facing up and further point to short term bullish price action. In addition, we can see that the price recently pulled back to a key support level and created the H&S Pattern. After breaking the recent diagonal resistance as we can see on the chart. The price could reach that $190 level in the short term and provide some profits for traders. Then if it breaks resistance, we could see a much larger bullish move and momentum. Today I entered a neutral and bullish trades on AMEX:GLD AMEX:GLD profiting in case of either scenario. The oscillators are a little bit overbought at the moment, so I would expect a pullback at some time. Maybe at that $190 level before further advance. Only something to consider is that AMEX:GLD can be a great way to hedge against market crashes or bearish price momentum. Hope this was helpful for the readers, if so follow me for mroe trade ideas. Good luck trading!
AMEX:GLDLong
by Konstandinovic
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