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GLD

Gold: We have entered a bear cycle.This long-term chart of GLD reveals that we have entered the next bearish cycle for the Gold market. This cycle of the Gold market peaked a couple of months ago and seems to be following the same trend from the last cycle. In fact, if we use the fib-retracement tool to plot the pullback from the first pulldown from the peak, we can see that GLD has bounced up and found minor support on the 100% fib trend retracement line. We can now expect a rise to the 61.8%-38.2% levels before falling down from there again. Be careful shorting puts or going long in those levels as we may never see another ATH for months if not years. Trade Idea: Short GLD around $171-$180. While it is unlikely for it to keep rising higher to new ATHs anytime soon, you can set stop-losses above at a comfortable level while leaving enough wiggle room. We can expect GLD and Gold to continue to fall from those $175 levels down below the $156 fib support, and then the 148 support area. Once the price breaks those levels, we can expect a high-velocity waterfall sell-off to the $136 support area, where we can also take some profits on the way. The key support area and the final price target is the parallel channel support around $107.5-$115, which we can expect to see in anywhere from 9 months to 5 years.
AMEX:GLDShort
by punitarani
Golden Retriever GLDYea this could be pretty ugly if breaks here Gold has walked on down to sub 1700....just broke after the Feb Jobs number down to 1690 Maybe this is the final flush out before Gold regains a bid on some inflation worries... Though it really doesn't seem to care about that Either way I'm getting long GLD calls here for a move back up towards 165 where there is a large open interest in the options market for March opex If need be this trade will become a short credit spread real quick especially if USD shows continued strength
AMEX:GLDLong
by Tidal_0BX
3
BOND YIELDS scary now? Rising way bk frm Aug 2020 (& GOLD down)What this chart shows... The treasury bond yield and the price of gold have a strong relationship in the long and medium terms (in inverse directions, hence the use of GLL UltraShort Gold ETF as a comparative measure - PURPLE line). Yields had been falling strongly, and gold price rising swiftly throughout 2019 and into 2020. After the initial Wuhan Virus shock, yields fell even lower and the price of gold rocketed to historical highs - their movements turned around together in early August 2020 (US10Y yield starting to pick up from Mon Aug 3, and gold starting falls from Fri Aug 7), and have been relentlessly moving like that from that date. The US Dollar, which had been generally strengthening for over two years pre-Wuhan, flipped post-Wuhan; and has been weakening over most of the post-Wuhan period to date (despite weaker gold prices and strengthening US yields from early Aug as we have mentioned). Right on cue, within the first week of 2021 (particularly Jan 7), the USD belatedly began to move in the direction of continued higher yields (with an ever weaker gold price) - this was especially notable in the USDJPY yen and the USDEUR euro . Despite a steep surge in bond yields and the USD for four trading sessions from Jan 7 (and accompanying erosion of the gold price), equity markets were not overly disturbed. But it is a further sustained spurt in bond yields from Feb 16, that has market commentators pointing the finger for the shock to the NASDAQ (IXIC - BLACK line). (Out of step, the USD actually weakened when considered against the USDEUR and the USDAUD from Feb 5 to Feb 25; but they seem to be following the storyline after that.)
TVC:US10Y
by dartde
⬆️✔️ Gold tested for supply: GC1! - is set up for buyHi i have another premium setup here on COMEX:GC1! . In my last analysis i pointed on demand area where i expected bulls come in. it happened yesterdey successfully and price rejected lower levels below $1680. So now its tto long play on gold. My long setup is higlighted in chart.Target level is next potential supply zone at $1760 - $1780 level. You can aplly this also for: AMEX:GLD , AMEX:NUGT , OANDA:XAUUSD here is data for my trade: ------------------------Trade setup --------------------------- Entry: 1695.8 Stop Loss: 1666.2 Profit target: 1776.8 Time stop: 7 days ------------------------------------------------------------------ If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together.
COMEX:GC1!Long
by Tomasgei
Long term perspective on GOLD / Cup and Handle Pattern Today we will share our view about the long-term opportunities we think gold is about to offer. First, we will start with the Weekly chart you can see on this post: What is a Cup and Handle Pattern? -Cup and handle pattern is the name that someone really creative gave to a market situation in which we have an ATH followed by a big Dip, in this case, a major correction between 40% to 70%. Then the price is able to recover the whole drawdown, and we have a fresh ATH (this can be above the previous one or a small breakout above). Finally, we have a corrective pattern, typically a ZIG-ZAG structure or an ABC structure. After the ZIG-ZAG / Flag Pattern breakout, we have the confirmation signal of a new Bull run about to come. -To better understand this example, you can see the next picture, and also you can see the situation from 1978 to 2009 (cup and handle pattern) / 2009 to 2011 the resolution of the structure. -Please understand that this type of pattern is useful on high timeframes like Daily and Weekly charts, its pretty similar to the situation we had on BTC/USD several times after huge corrections -With that explained, we think GOLD is about to complete the pattern. Right now, our objective is not to find the bottom of the movement but to be ready to execute positions if the breakout of the structure is confirmed. Lets take a better look to the current situation on the Daily Chart: This chart shows that the 1680 - 1700 area is a major zone for bullish pressure to start coming. Why? From a technical perspective, we can observe a huge support zone that + Ascending trendline + the channel's cloned trendline. Remember that using different tools that converge on a specific area is a strong signal in technical analysis. Our Strategy right now is: Wait for the price to reach the expected area 1680 -1700. Once that happens, we want to see the first bearish trendline's breakout and look for a corrective structure. That would be the first position we can develop on the yellow lines, this would be a risky setup because we are not waiting for the absolute confirmation of the cup and handle pattern (breakout above B), but if we are right, we can have a huge risk-reward ratio trading waiting patiently for the Cup and handle target. The second position we want to develop is the safer one, which is waiting for the ZIG-ZAG pattern breakout and looking for a corrective structure on the next resistance zone. If that happens, we will develop long setups, as you can see on the yellow lines towards the final Cup and Handle Target. We hope the information is useful. Thanks for reading!
COMEX:GC1!
by ThinkingAntsOk
6
Gold heading to 1600-1650Gold GC1! Weekly chart shows a major breakdown in the past week where is closed below the 55EMA for the second week. The candlesticks, MACD suggest more downside, probably to 1600 area. Saving grace is that the RPM is levelling off, expecting a consolidation to form up soon. Meanwhile, the Non-Commercial Net Interest is waning since the start of 2021, although Top 8 Traders are slowly accumulating. The Daily Gold chart on the right panel shows the breakdown pure and pure, with downside momentum picking up on Friday, suggesting continuation through the week given all technicals. Late week may bring some reprieve, perhaps by then already at 1600 target level. Note that from previous weeks' indications, all these are expected... and expected to continue. However, in the long term big picture, Gold is still in an uptrend, and this is a previously expected (and overdue) long term retracement.
COMEX:GC1!
by Auguraltrader
2