GLD /GC GOLD swing idea?

thinkortrap
thinkortrap
edited August 23 in Commodities
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I think a gold trade short is a good idea, with a reversal stop.

I think 60days out if doing a vertical put spread is a good idea.
Stop would be 1307 on /GC
Target 1240's

Post edited by JoshWinter on
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Comments

  • JoshWinter
    JoshWinter
    Posts: 275

    I agree with this idea too. I am currently short #GLD put spreads which are losing since gold has rallied since and been sideways. I am down -$120 at the moment but have 24 DTE left so duration is on my side still. But if ES rallies and VIX drops than Gold should drop more than likely. But Friday is a big day of news so that will move ES, GOLD, EURO, and other markets. But I do like gold short here from a technical stand point if Global Indexes remain weak. Nice chart and idea! I will let the forum know if I add some short gold options.

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