Canadian Gold Bond near Support If you are a long term investor, this is a good dip and at the strong support zone to DCA.Also near 61 SMA that'll add confidence to the market sentiment.
XGD trade ideas
XGDLong term buy on gold stocks here.... yea, i know they been taken to the woodshed, but the long term trend is solid... this is a great buying opportunity.
Canadian gold shares offer a great R:R opportunityAll annotations to explain the chart inside the graph. If you have any questions, let me know!
XGD Gold stocks 45-day cycleI stumbled on this using the Tradingview cycle pattern tool and it seems to be a valid cycle although I don't know how long this cycle of bottoms and tops will continue. The next one is set for Oct 8. The only problem is I can't figure out if the next cycle date will be a top or a bottom. I guessed on the last one and made a 8.5% profit using HGU (2x ETF for XDG) buying on the next trading day after the cycle date and selling the next morning when it hit the top of the channel I'd drawn. Maybe someone else can figure out how to know if the next cycle date will be the start of a downtrend or uptrend. I tried a number of indicators and Bollinger bands but couldn't spot reliable pattern that I'd actually trade my own money with.
