SPOT GOLD XAUUSD is shown here on a 30 minute chart. This zig zag long trade is a bit more
than a day in duration. It is meant for use in a forex trade with 10:1 leverage and then
increased upon fluency after some amount of experience. Superimposed on the chart are
support and resistance zones of the visible range and the RSI of the given chart time...
My thesis is that comparing an equity price in a ratio to spot gold expecially on long
time frames can sometimes bring clarity to complicated trading decisions. Here, I seek
to determine since I hold both gold on the forex market and NVDA call options, whether
I should sell one to buy the other. Upon putting the ratio of NVDA price compared with
spot gold on...
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.
GLD (or Gold, I don't play futures) look extremely bullish with a long term cup and handle pattern that has taken over a decade to set up. Was interested in waiting further into the week but yesterday's selling and the gap down today with the buying that has come in, just tells me to go ahead and get in. So going to pick up Jan 2024 call options. If you have any...
Check out the monthly chart on GLD! We've gone over this breakout and if finally looks like we're getting a higher high.
We have been long on GLD and physical gold for awhile now as an inflation hedge.
This will also be an active play if tensions between Russia and Ukraine continue to escalate.
Looking at our fib extensions we see $200 and $210 are well within...
With Russia creating tension in east of Europe, the safe heaven of inflation is finally moving higher with hopefully a sustainable move to the upside. My method of analysis is the VCP pattern setups for all my swings. Refer to Mark Minervini for the detaisl of the VCP setup but basically it ensures that no selling pression is near overhead of us. Weekly candles...
GLD consolidation pattern almost complete is likely targeting a pending wave (v) rally targeting the 2070 level. Working on Medium term consolidation. TSLA is also reaching equality of wave (v) vs. wave (i).
Next week!
Gold prices had been consolidating within a triangle and it appears just about ready to break out of the triangle. Marked out the breakout point on the chart, and on the triangle.
The Sell signal should be invalidated and next week brings a new Buy signal.
Clearly MACD is bullish and supportive of a breakout!
Good upside to 1780-1800.
Position:
- Long dated call options
- Jan 15th 2021 expiry
- $137 Strike
- 0.71 Delta (ITM)
- Cost = $12.10/ contract
- Buy 1x contract
Profit Target/ Exit:
- $150 initial profit target
- Two closes below $136 is exit signal (this would be around a 50-60% stop)
Rationale:
- GLD has broken out of the descending channel (period of consolidation)
-...
