Comments on: /GC GLD Gold Trade Setup 10-17-22

By: HermonMunster

HermonMunster — Mon, 17 Oct 2022 21:48:00 +0000

In reply to dayoub. Gotta remember this is tinder not match.com Take what you can get and give it back to the street

By: Jeff Vandenburgh

Jeff Vandenburgh — Mon, 17 Oct 2022 20:15:31 +0000

I’ll be watching for these set-ups to trigger, but currently playing gold to the short side. Gold monthly and weekly charts show large bearish divergences made at the most recent highs, and with gold trading below 2-3 year support at 1675, the larger topping pattern of the past 2-3 years looks to have solidified and been confirmed with gold’s inability to get back above that level. Additionally, as gold does correlate negatively with real yields, I am not convinced that a reversal in bonds is imminent, as I think the magnitude of the move down in yields during the COVID crisis is having a reverse effect the other way. I see the rubberband being stretched in equal proportions on the 10-Year, giving it the potential to reach 6.5-7% in the next few months, although I don’t doubt it such a move would likely be cut short if something in the economy “breaks” and the Fed has to intervene when the 10-Year has reached the 5-5.5% zone.

By: bunyz06rabbitt

bunyz06rabbitt — Mon, 17 Oct 2022 17:35:14 +0000

I made a much too early entry into this gold space on October 7th, looking like it’s on its way back to recovery. Actually had I entered short on that day (GDXD) and got out last Friday, I’d be fat today and would’ve entered a long position this morning. My vehicle is currently GDXU.

By: prouhet

prouhet — Mon, 17 Oct 2022 16:36:14 +0000

In reply to dayoub. best comment ever! thanks for the laughs

By: dayoub

dayoub — Mon, 17 Oct 2022 16:09:35 +0000

this is like saying” hey you know that girlfriend that dumped you 6 times? well she is ready to hook up again..”