GLD 19-Jul-19GLD 19-Jul-19
30-Day IV: 11.3 +0.5
IV Pct Rank: 96% Elevated
+0.36D Long 1 Call: 129 Strike @ $1.10
-0.44D Short 1 Call: 128 Strike @ $1.45
-0.08D Credit: $0.35
2840 trade ideas
FED WON'T cut rates - gold will go back downI'm anticipating the FED not cutting rates - this will cause other central banks to cut, which will force the dollar $DXY up and gold down. Chart looks like a double-top is forming with momentum sliding.
Again, the only way gold goes up if we start war with Iran which last week looked like it was going to happen. Doesn't look like most of the globe is accepting the false-flag narrative being espoused by necons.
I think the FED will cut in September or December even. At which I see a risk-off happening where people will run into stocks while gold will look lackluster against it.
Gold SPRD Trust ETF. Gold XAUUSD forecast and technical analysisIf you are looking to trade Gold SPDR Trust ETF (Exchange Traded Fund) or Gold XAUUSD cash market, the long term Gold GLD forecast is bullish. Gold ETF has been rallying for the last weeks creating new strong impulses on the weekly timeframe showing more strength on the bull side.
Currently we have a weekly supply imbalance in control around $126. As supply and demand beginner traders, we should not be trading against such an imbalance in control. Last time that imbalance was tested price dropped strongly for some weeks. We should be looking of long positions. There is a strong demand imbalance created lower around $121. Trading Gold ETFs like GLD SPDR trust is no different to trading any other precious metal. All precious metal futures follow the supply and demand principles that tell us we shouldn’t be buying after a very strong rally or selling after a very strong drop. Trading is all about waiting for the right scenario before pulling the trigger blindly.
As a swing trader, you should not be looking to go long now on GLD SPDR trust or Gold XAUUSD. Watch GLD SPDR trust video analysis below for full details.
GLD Breakout rejectedFeds probably aren't going to cut rates next week based on retail and industrial data. Dollar heading up, gold heading down. Of course things can change over the weekend, but it sure looks like the breakout got rejected.
Definitely fell off the trendline, might get a back test though. We'll find out next week I guess, because I'm holding this until Wed morning.
War with Iran - Gold $GLD is going upThe one reason gold would skyrocket as I said before is war with Iran, and now we have some explosions in the Strait of Hormuz. $GLD will go to 132 - if no war it will drop from there.
GLD making moves, needs a breather.GLD needs a pull back here to go higher and on to test the '14 highs around 133 which is the .618 area of the multi-year move lower.
Sell $GLD Double Top on Daily ChartDouble-top, gold smash coming up. Sell calls or buy puts...
$JNUG $JDST $DUST $NUGT $GLD $SLV $UGLD $USLV $GDX $GDXJ
$GLD Classic Overbought Short Set-upVirtually any time you see a daily candle explode above the upper Bollinger band, with RSI > 80, AND the stock trades below the open price, it is an EXCEPTIONALLY good short opportunity!
Hedge at 132-135 for Gold $GLDBeen stuck in the channel, run-up was fun. Expect a large gold smash coming - always does before it takes off. I would buy puts on a low IV miner which moves more with gold. You could also sell calls right now above that and not worry about being called away imo.
GLD and the world nowGLD /// 2yr top is 127 ish
will Geopolitical events drive it there or over that???
the next top is 130 ish
My gut take is.. its time to open down position in GLL say 25%
Cup and Handle Formation on GLDClassic Cup and Handle formation developing may provide Gold with a launching path to higher prices.
