Finale selloff in GLD - will reverse up when yields/USD drop
On the weekly and daily charts, my indicators all show that selling may soon be exhausted. On weekly, you can see price is in support zone and you can visually see three waves of selling from top (Sept '20, Nov '20, today). Initially I was looking for 163 to hold but there is too much yield-rising pressure so price is moving down into green support band.
I bought April 170 calls. When it is scary to buy at the bottom, keep your position size small. If GLD moves higher, it will get back over solid white line and you capture a fantastic price move. If this trade idea does not work you lose little (with small position) because you bought very close to stop loss.
I bought April 170 calls. When it is scary to buy at the bottom, keep your position size small. If GLD moves higher, it will get back over solid white line and you capture a fantastic price move. If this trade idea does not work you lose little (with small position) because you bought very close to stop loss.
Dagangan aktif
Holding calls. Will need follow through, like a higher high on 30m timeframe, to indicate this may be a bottom here.Dagangan aktif
Still holding calls. With April expiry there is plenty of "wiggle" room for price. More importantly, on the hourly chart, There is a bullish divergence between RSI and price. My position is small enough that I can hold through this drop. I am quite curious to see how the daily candle looks at close.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.