The Gold Trade $GLD $GDX $SLV $NUGT
by heyimsnuffles | January 10, 2019 3:35 am
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!
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