$GLD $XAU Inverse cup and handle in play.

18 нояб. 2018 г.

Inverse cup and handle from 127-115 area. Currently in ascending flag. Once break down occurs PT is 103-105 for GLD. This same exact pattern is seen on the weekly in XAU (obviously). May rise to 1235-1240 and 116.75 respectively before the breakdown. This also correlates with EURUSD at 1.03, which I am short on as well. This month may see some moves upwards.

This will be exacerbated by NO DEAL with China and continued interest rate raises, especially the December planned hike.

My stop loss on GLD is 117

No advice just my personal analysis. Good luck out there.

29 нояб. 2018 г.

Заметка

The Fed put a little spark into gold. No change to the plan though; as long as we don't break 1230 with conviction, which is ~116.75 on GLD

19 дек. 2018 г.

Заметка

Still holding puts. Obvious trap going into FED talks.

Gold will only capitulate more as dollar strength rises from interest rate hikes and market liquidations (most trades are in USD. Moving large sums of money from investment to investment ties up a lot of USD especially in a tightening cycle thus making it more rare and more valuable).