GSD trade ideas
Bitcoin is going to the high... then what? Look at Gold!It is readily apparent by now that BITFINEX:BTCUSD is on a run for the last ATH. When the price of something is this close to such an obvious level with momentum it is a very high probability bet it is going to reach it and even break it. But what then? You have to BE SMART. A lot of people that don't watch this video are going to FOMO and I pity them but hopefully it comes with a lesson. That lesson they will learn one can already learn by just looking at the chart of AMEX:GLD this year.
Good buying opportunityMarkets breaking to All time highs except Nasdaq. Not exactly what you want to be seeing.
Gold in the process pulled back to a zone of demand. This zone along with the trend-line from August highs now acting support gives reeason for buyers to come in.
On 4hr candlestick chart, there was a green inside candle after touch the demand zone. On lower time frames showing signs of reversing/bullish.
I expect to ride gold back to 183 and see what happens from there these next couple of days/weeks.
GLD - Getting There!GLD is groping for a short term bottom here after getting whacked for $6 over the last week. GLD hit its highs almost three full months ago and is down right at 10% from $195 to $175. RSI on almost every time frame except longer term, 3D, 7D and monthly, looks ready to move higher, however, I wouldn't discount a move lower with all the inviting FIB levels going down to $170 or so. Macro back drop looks very favorable for precious metals and election results should bring a relief rally. Miners were up today despite GLD and SLV being down. Watch this area and support levels closely as it should provide a good entry point for the next leg up!
Close call XAGUSD on Short vs. Long TrendsVery close trend Q values for Silver
Price correction is here!
Good opportunities for straddles/strangles or Put Selling
See Green box for post election ranges for IC or BWB
Any positive news or flights from Equities will see Trends Qvalues over 80%
Wait for new supports to appear until Nov. 3rd.
GL!
GLD Symmetrical Triangle Break OutGLD LONG
This is by far my favourite play for next week. Saved the best for the last :wink:. It's bee holdings support very well. Currently on a symmetrical triangle waiting for the break out. It rejected the hammer a few times on the daily and forming bullish doji on the Monthly.
Optimal Entry
A break and hold of 179.5 will be bullish, and a break and hold of 178.75 will be bearish. Though I am bullish on it.
PT1 green resistance
PT2 187
SL red support
Contracts
11/20 175/185c bull spread
or
12/4 180/185c bull spread
This will most likely become a hedge for the elections along with VIX. So I will be holding it still near exp unless SL hits. Stay green!
