O87 trade ideas
$GLD could revisit 130Good day folks,
Based on RSI and VI, I think GLD could retest its 130 support. However, the chart being in 4 hr Renko Bars, this could take a "few weeks" to materialize. I remain very bullish on the long term, so this is just a pullback imo.
Thank you,
If Minor Wave (B) Complete, (C) Will Equal (A) at $595 Cash SpotGold topped August 2011 completing an intermediate level 5 way advance ending at 1,923. It has been correcting ever since in intermediate (Green) (A)(B)(C) with (A) in 5 minor waves and (B) in 3 minor waves (with red B as a running triangle which I believe was followed by a quick thrust C that just finished at yesterday's high of $1,454).
Minor wave (B), where red A equals red C at $1,345 (134.5 in GLD), is just shy of a 50% retracement of minor wave (A). So its a good stopping point.
The price range of (C) should most likely equal the price change of (A). That would give the next minor 5 wave segment, (C), a price target of $595 in the cash market or $59.5 for GLD.
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Good luck!
Double triangle breakoutA larger descending triangle breakout along with a smaller ascending triangle breakout
erm... buy that damn dipdip due to a short term spike in DXY. but with fed cuts coming will help usd sell off. will it be a .25 or a .50 bps? to be continued
GDL - Wedge formation Long setup Gold itself is setting up as flag with potential target of 1520 with weekly chart showing a wedge and target of 1610.
GLD (NEW) - Another way to play the move on gold. Possible entry if gold breaks 1431 or break of 135 on GLD. Stop signal 130.43, Target 145.83. Could Consider October 137 calls currently 3.13.
GLD Bugs are back!With the devaluation of currencies globally and negative interest rates plaguing over 25% of sovereign government interest rates, Gold has come back in favor breaking their resistance of $129.00. Broad indexes are at all time highs and fear of devaluing currencies will create a run for a "store of value" trade which can also be perpetuated by a "fear trade" where Gold performs historically well. $143, then $154, and finally can test $172. We'll see.
Low profit opportunity on GLDA friend suggested to look at GLD. I saw the bull flag and went on it for a 2% risk.
GOLD VS BITCOIN- WHAT?!GOLD and Bitcoin seem to have found similar trend recently.. Does this continue??
Possible Gold Breakout Upside Unknown ...Due to extreme weather and massive interplanetary stimulus sends gold oz over $2000 making new all time highs...
BUY BUY BUY or SELL SELL SELL
its your call... or put
Bull Flag on GLD or GoldWe seemed to break out above the flag today after the FED confirmed rate cut which is bullish for Gold. The volume on this bull flag is perfect, you can see volume was moving higher on the flag pole, then dropped on the flagging, and is now moving up on the flag pole up. Confirmation is above $135 my measured target is $140.22. From here that is roughly a 5% gain and the last move up took place over only 6 days. If you want to trade this set stop at $131.75 which is roughly 1% downside risk give this trade a 5:1 risk reward ratio.
