The Gold Trade $GLD $GDX $SLV $NUGT

The Gold Trade $GLD $GDX $SLV $NUGT
January 10 03:35 2019 Print This Article

Gold has been absolutely DESTROYED over the past couple years, and quite frankly been a big, fat, waste of mental capital. Well the wind and times may be changing for the pet yellow rock. Take a look…

I am taking a look at the GLD etf to make it easy and it is very liquid for any person who wants gold exposure (I personally advocate buying the physical metal). Notice how the monster rally took place while price was trading ABOVE the 200 weekly MA (blue line). Since the top we have been under this indicator for the majority of time and gone sideways. A COMPLETE WASTE OF TIME.

Now however, after much sideways consolidation (correcting through time), I see gold peaking its head once again above this indicator. The trade is simple, below we stay away, above we load the boat 🚣.

If the 200 weekly MA gets above  118-119 then we now have a true RISING moving average which hasn’t happened in a  long time.

Long the Yellow Rock!

 

 

  Article "tagged" as:
  Categories:
view more articles

About Article Author

heyimsnuffles
heyimsnuffles

Just Climbing the Wall of Worry and Picking the Right Time to Get out of the Way. I am a Nuclear Engineer who quit and has studied global and crypto markets for almost a decade.

View More Articles
write a comment

0 Comments

No Comments Yet!

You can be the one to start a conversation.

Add a Comment