1326 trade ideas
Short GLD Bearish ButterflyShort GLD in the PRZ zone (165.68-167.74) . Take profit at the 38.2 retrace (155.02) and after look for 61.8 at (147.77). With the macro backdrop you could get an overshoot to the long term fib at 169.49 and also a possible smaller time frame deep crab with a 168.45 to 171.12 PRZ. Stop above 171.12
GLD - Marking time!GLD consolidating in a well formed channel now for a couple months above the h&s breakout. Also needing to consolidate its move that started last May. While SLV plays catchup and gold/silver ratio starts to normalize, expect a little more churning here. Miners will let us know when the coast is clear.
$GLD Potential Fresh Bull Trend Breakout to Start New WeekGLD is now in play for the bulls if they want to drive a strong breakout following nearly three months of constructive lateral consolidation activity.
Spec interest is still light, according to CFTC data. So the crowd will likely chase new highs.
GLD - Consolidation leading to expansionGLD - 2 months of consolidation leading to expansion, after June 19th jerome powell speach. I saw options July and Sept call flow for GLD, NEM, GDX and SSRM. If Gold futures closes over $1750, that would be confirmation of uptrend. The FED will keep inflating market, also Hedge funds are fully vested into markets as well. Seasonality - charts.equityclock.com
GLD breaking out soon!For those in Singapore, on the Straits Times Index, O87 aka GLD is just about to break out of the triangle, having broken out of the MACD trendline, and into the bullish territory at the same time (yesterday).
This is a bullish indication, which needs a price break out of the triangle with committed volume to follow.
We will know as it turns into July...
Targets are 172, and up to 188 possibly in mid-August.
GLD Time to Shine!!Move to come will be explosive - I’m betting to the upside eow, and potentially continues the rally up to eom. $164C 7/2 or longer expiration seems to be a greatly profitable swing. Powell interviews this morning demonstrating the weaker movement of the markets. Hope you have GREEN days to come, good luck :)
GLD - Knockin' on Heaven's Door!GLD is trading in an extremely tight range between the red and yellow lines and continues test overhead resistance from the peak in 2011. It looks to me like it is only a matter of time before it blasts through and attacks the all time highs. Very very accommodative Fed. This is where you must decide if you are joining the train. Either way, I'm just happy to see GLD knock knock knocking on heaven's door.