GLD Running into today's close getting ready for a whale spout soon.
Get your tickets to the show
-stikstockitslive
GLD trade ideas
GLD daily - at resistance, bearish reversal candlestick patternGLD daily is also at resistance, the same as GLD weekly which make even more pressure on the downside. GLD drops out of a smaller rising wedge which is bearish and is still inside of a big rising wedge which is a bearish pattern. GLD formed a bearish reversal pattern at the top, Hanging man. At the moment it is basing at a high which could be bullish if pops strong up, however chance for that is not more than 20%.
GLD is above all significant MA which is bullish and a sign of a strong bull market.
Volume is dropping during consolidation which is also bullish, as there are not too many sellers at this point.
RSI is way overbought and has strong and long bearish divergences which indicate a likely drop in price pretty soon.
MACD histograms are ticking lower with strong bearish negative divergences.
Overall: even though gold is in a bull market, its price is likely to reach its top for now and is ready to pull back. For bulls would be perfect to see pullback with smaller candles and on smaller volume for some time. A stronger volume on the downside with a bigger candle would indicate we are done with moving up and GLD is going down hard. Also bullish would be for the price to consolidate for several more days on this level without popping up on smaller volume so 20 days MA can catch a little bit and then move strong up.
On the downside, major support will be the rising trend line and rising 20 days MA. With the breaking of that support, next support would be the 166-168 area where is the support of weekly, and 50 and BigRed days MA on daily.
GLD gold likely correction/end of rise for nowGLD weekly - gold likely correction/end of rise for now
GLD is in a symmetrical triangle and is close to major resistance. GLD had 10 weeks up move and is due to correct. Volume is dropping which is not the best option with such a strong move-up. Volume is not confirming price action.
GLD is above all significant MA which is bullish and a sign of a strong bull market.
RSI is way overbought and is due to correct.
MACD histogram is ticking higher while the MACD line and the signal line are above zero line signaling bullish momentum.
Overall: GLD is bullish especially when the dollar is dropping. However, as GLD is at resistance, at the same time USA dollar is at strong support. For the continuation of the bullish move, GLD needs to correct at least to FIB 0.5 and then start to move up so RSI and MACD can cool down and have a healthy bull move. Otherwise, I expect a fakeout above, hitting resistance (blue dotted line) and getting rejected pretty hard and at the same time finish of a bull move for a longer period of time. Also, the more the price stays inside the triangle the more powerful movement will be.
Gold is finally looking good. Don't chase but look to buy on dipGold is finally looking good. The range bottom held and as long as dollar stays weak we should be buying dips not selling rallies. Great diversification if stock market crashes
GLD spot gold TrustGLD spot gold Trust. Gold is getiing up there to it's overbought zone $1927 today. Therefore, from a strictly risk : reward entry setup, this GLD post is short from $180. Plus, pi RSI is getting close to a good short entry setup & GLD options data is leaning bearish for February, but still bullish for March now. It could very well also be a sideways theta trade setup maybe. Here's levels on the GLD 16hr ext chart (1 day):
SMA200 = $166
VWMA 20 TTCATR(beta):
top = $181
R3 = $179
R2 = $177
R1 = $175
pivot = $173
S1 = $171
S2 = $169
S3 = $167
bottom = $165
2/17/23 expiry options data:
Put Volume Total 1,735
Call Volume Total 2,137
Put/Call Volume Ratio 0.81
Put Open Interest Total 94,273
Call Open Interest Total 85,703
Put/Call Open Interest Ratio 1.10
3/17/23 expiry options data:
Put Volume Total 1,065
Call Volume Total 2,184
Put/Call Volume Ratio 0.49
Put Open Interest Total 111,843
Call Open Interest Total 238,043
Put/Call Open Interest Ratio 0.47
GLD short term short, long term bull trend intactGLD was in a down trend from March 22 until early November 22
Since GLD broke that trend it has turn former resistance into support with confirmation
on Jan 13 GLD broke through the next reistance zone around 175 and is now peaking at almost 180$
even though on Jan 17 and 18 GLD traded down and then came back strong on Jan 19 it still needs to come back and visit this former resistance for confirmation.
ADX over 20 indicates strong trend, here on the 1 day it is 40 with the +DI (green) in bullish spread (40 v 13)
50 day DEMA crossed the 200 day DEMA in late November
The price has gotten far above the 50 day DEMA, another clue that a short term correction is in order.
GLD: Hit the Brakes ✋🛑Almost there! GLD should slam on the brakes and wrap up the blue wave (i). After completion, we expect the course to dip into the blue target zone between $162.26 and $155.58 to fulfill the corrective low of the blue wave (ii). Once achieved, the GLD is good to go and should rise back North.
giper idea 2 yearAll information available here is generally provided as an example only, without any obligation and without specific recommendations for action.
$GLD monthly chart set uplooking like a moar diamond set up, some resistance above so will need volume push. looking to also short top if this breaks out for higher high on reversal set up. more short term bullish
GLD Analysis and PredictionGLD reversed after filling FVG from June 30th, and respecting the new FVG created. The chart is really unbalanced since the low on NOV 10th. Looking for a retracement to $157 area before returning upward.
Adding Gold to Spy ratio to my watch listAdding Gold to Spy ratio to my watch list, dding Gold to Spy ratio to my watch list
$GLD - Grrr babyIn a world where central banks are buying the hell out of gold/precious metals in preparation for what’s to come with Russia and China, gold prices were brought down by speculative and stupid beliefs in other assets. As dumb as it is that a shiny rock is worth soooo much, it’s the asset China and Russia want every ounce of which makes me love it more. Getting more beautiful!!
Gold is soldFirst time looking at the gold chart and it is not as bright as I expected. The end game here is to make equql bottoms at the thick red line and extend further to take out the equal bottoms. NFA use stops.
Cup and HandleThis is not quite to long entry level.
Often best to be sure a security breaks resistance unless you are already long.
Always look in the rear view mirror, then up as well (0:
No recommendation
GLD big LEVELBe careful because this the big level NOW on GLD this will determine where we will go we're still in a bear market until we break up this level !!!
GLD SPDR two bullish breakout patterns in one!W Formation has formed and the price has broken above recently.
We then have a larger Cup and Handle forming, which the price is now completing the Brim Level.
This market is correlating well with Gold and seems to be lagging the current Gold rally. This means, we can expect upside for GLD very soon.
My first target is $174.68
$GLD Long Setup Watch out for $GLD; Very high probability of this going outside month which gives a target of 160-161$, Also about to go 2-1-3U on the 2W 🟢 . Dec. 160C's are beautifu
GLD Daily - long run bullish but Retrace to 160 GLD double bottom (X to B) - look for a retrace back to pt D fib support (160) around 11/30/22.
How high and how low can Gold go in this cycle?In my honest opinion Gold will head much much higher in the next decade, and the double top at 2070 is bound to break. In the short term it also looks fairly bullish as it has reclaimed several key support levels, along with the 200-400 DMAs and the diagonal trendline. Getting up to 1900-1920 over the next few days or weeks definitely seems possible.
However in the medium term it isn't clear whether it is ready to resume higher. To me it looks more likely that Gold will get to 1600 and maybe even 1300 before getting to 3000. The quadruple bottom at 1670 looks vulnerable, as so does the triple bottom at 1450, while the 1300-1350 looks like a massive magnet. The market never retested that breakout and it could certainty revisit it before going higher.
But how could gold go lower if inflation remains high? Well inflation has been high for a while now, and yet Gold is still sitting below its 2011 ATHs. Central bank balance sheets have exploded, and yet gold remains quiet. In my opinion this has to do with several things, that could range from manipulation up to a strong dollar. Central banks are cornered and not many governments are profitable enough to add gold to their balance sheets. Some will potentially be forced to sell in order to support their currencies. As energy and food go higher, bonds yields will go higher, and therefore more opportunities will arise outside of gold. Being long oil is probably a better inflation hedge than being long gold. At the same time higher inflation forces people to sell stuff in order to cover their extra costs, and that includes gold. People bought gold as insurance for a period of high inflation, and now they need to exercise that option. Finally, as bond yields go up, if the dollar also goes up, then this could seriously harm gold. If the USD appreciates too fast along with interest rates going higher, then gold could collapse along with most other assets in the case of a liquidity squeeze.
In conclusion, I don't believe inflation is fully under control, I don't think we are done with QE and low rates by Central banks, however I do think that gold isn't ready for prime time yet. Gold is in a weird spot both fundamentally and technically, so I'd need to see a more bullish price action in order to be convinced that 3000 will come before 1300.
GLD to stay below 150 and last chance to get outHello Golden heart people
Sorry I am not bringing a good news for GOLD/GLD. The chart pattern seems to be replicating itself from 2011 - 2015. Description in the chart should be self explanatory, here are few points to make it clear.
This is a monthly chart, so please do not hold me for the daily bounce. I am taking this opportunity to short at the better price. What are you doing?
Moving average I have used is 34 because it is at least respecting that average, and currently it is below 34 monthly moving average and is turning down. I will change my mind only when it closes above this monthly moving average.
If you know me, my monthly fib levels are in red and the price is below 23%, the minimum target is 38% which is 135
I have used Anchored VWAP since inception of GLD and now it is finally below 1 standard deviation and if mean reversion has started then the target is 125 and to capitulate it has to go below 110
One thing I have learnt is, longer trend works BUT the only condition is you should be able to ignore the losses short term
I will keep updating this idea as and when there are big moves or if there are any questions.
This is my opinion, I would like to know yours as well if you do not agree with this.
GLD: Testing Previous S/R LineAMEX:GLD
GLD looking to test previous multiple tested S/R line from earlier this year. On the 4h MACD is threatening a negative roll over and the RSI is extended into overbought land since last Wednesday. On the 1D, MACD is much like the price over the past week and is almost vertical while the 1D RSI is breaking into overbought. Price is ~4% extended from the 9sma, and running face first into a S/R and 200sma convergence wall.
