SPDR Gold TrustShort
GLD to stay below 150 and last chance to get out
Mis à jour
Hello Golden heart people
Sorry I am not bringing a good news for GOLD/GLD. The chart pattern seems to be replicating itself from 2011 - 2015. Description in the chart should be self explanatory, here are few points to make it clear.
This is a monthly chart, so please do not hold me for the daily bounce. I am taking this opportunity to short at the better price. What are you doing?
Moving average I have used is 34 because it is at least respecting that average, and currently it is below 34 monthly moving average and is turning down. I will change my mind only when it closes above this monthly moving average.
If you know me, my monthly fib levels are in red and the price is below 23%, the minimum target is 38% which is 135
I have used Anchored VWAP since inception of GLD and now it is finally below 1 standard deviation and if mean reversion has started then the target is 125 and to capitulate it has to go below 110
One thing I have learnt is, longer trend works BUT the only condition is you should be able to ignore the losses short term
I will keep updating this idea as and when there are big moves or if there are any questions.
This is my opinion, I would like to know yours as well if you do not agree with this.
Sorry I am not bringing a good news for GOLD/GLD. The chart pattern seems to be replicating itself from 2011 - 2015. Description in the chart should be self explanatory, here are few points to make it clear.
This is a monthly chart, so please do not hold me for the daily bounce. I am taking this opportunity to short at the better price. What are you doing?
Moving average I have used is 34 because it is at least respecting that average, and currently it is below 34 monthly moving average and is turning down. I will change my mind only when it closes above this monthly moving average.
If you know me, my monthly fib levels are in red and the price is below 23%, the minimum target is 38% which is 135
I have used Anchored VWAP since inception of GLD and now it is finally below 1 standard deviation and if mean reversion has started then the target is 125 and to capitulate it has to go below 110
One thing I have learnt is, longer trend works BUT the only condition is you should be able to ignore the losses short term
I will keep updating this idea as and when there are big moves or if there are any questions.
This is my opinion, I would like to know yours as well if you do not agree with this.
Note
My first target is 150 and if it goes against me upto 167 But can it even go beyond 158? 200 weekly MA is 158, Can it cross 158?Note
Alright, we are again at 158, did you take the opportunity to short above 158? If not may be just may be consider PUT spread if you know options but remember to give some time for you to become right. good luckNote
Ready for 158 again?Note
Did it go anywhere? Another day for you to think but then?Note
If you are a bull, make sure to protect 161 otherwise 158 is waiting. Basically I am updating everyday to prove that there is no FOMO when you chart longer time frame.
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Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight st
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