Bear Flag?
Good day folks,
I think the fundamentals and the chart look very bullish for GLD in the long term. As such, I started accumulating it on a monthly basis while shorting it through options. The reason being that my accumulation is for long term gain, diversification and currency edging, while my options trades, well simply for short-term return.
Look at the weekly chart; that looks like a bear flag to me. My only worry is a December rally like we had last year.
Overall, I’m expecting GLD to reach its bottom by end of march, so I opened MAR 15 Puts. The perfect scenario would be GLD reaching 100.00, in this case I would be extremely bullish.
I'm short, for now!
Thank you,
I think the fundamentals and the chart look very bullish for GLD in the long term. As such, I started accumulating it on a monthly basis while shorting it through options. The reason being that my accumulation is for long term gain, diversification and currency edging, while my options trades, well simply for short-term return.
Look at the weekly chart; that looks like a bear flag to me. My only worry is a December rally like we had last year.
Overall, I’m expecting GLD to reach its bottom by end of march, so I opened MAR 15 Puts. The perfect scenario would be GLD reaching 100.00, in this case I would be extremely bullish.
I'm short, for now!
Thank you,
Nota
I forgot to mention that the price is sitting on channel support of the bear flag, so it could bounce here. This is a risk. However, it looks like it is going to break down. A better entry would be to wait for a confirmed broken support. Cheers!Dagangan ditutup: hentian tercapai
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