Like a sleeping vulcano, after years of inactivity, gold finally woke up in 2019.
I think this uptrend is not just momentaneous but rather structural. For many reasons:
1) We are approaching a global crisis, as many are yelling since years, and the fact that gold and bonds yield are increasing in times of SPX hitting all time max witnesses the uncertainty and background inquietude in market operators.
2) Patterns of MACD are similars to the 2006-2008 period, where Gold started its incredible rise to almost 2k usd.
3) Also, RSI tops on monthly indicate that we are probably out from the stagnation phase and in the initial phase of a prolonged BULLish trend
Trading view: a retracemente to the 1480-1510 area is plausible before starting the rise until 1750 in May, as the end of May is the month in which the hypothetical leg up equivalent to the one that brought us from 1300 to 1500 and the long term black trendline meet. May is also the month in which Bitcoin will halve, is it just a mere coincidence?
trading stragey: BUY a call option on gold strike 1705 with maturity June 20, target price is 1750
cost 1500 euro
Exp payout 4500 euro
RR 3x
Close the position if gold goes below 1480
I think this uptrend is not just momentaneous but rather structural. For many reasons:
1) We are approaching a global crisis, as many are yelling since years, and the fact that gold and bonds yield are increasing in times of SPX hitting all time max witnesses the uncertainty and background inquietude in market operators.
2) Patterns of MACD are similars to the 2006-2008 period, where Gold started its incredible rise to almost 2k usd.
3) Also, RSI tops on monthly indicate that we are probably out from the stagnation phase and in the initial phase of a prolonged BULLish trend
Trading view: a retracemente to the 1480-1510 area is plausible before starting the rise until 1750 in May, as the end of May is the month in which the hypothetical leg up equivalent to the one that brought us from 1300 to 1500 and the long term black trendline meet. May is also the month in which Bitcoin will halve, is it just a mere coincidence?
trading stragey: BUY a call option on gold strike 1705 with maturity June 20, target price is 1750
cost 1500 euro
Exp payout 4500 euro
RR 3x
Close the position if gold goes below 1480
Comentarios:
not bad :)
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