FSG went out at 28.59. Stop should be the swing low below the monthly A down at 27.90. If we take that out, it means that Gold is likely rolling over again and taking out 1700. I would not want to be long in that scenario. The upside on this trade quite frankly is the moon. If Gold takes out the old swing high at 1923 this thing could trade to $100. If Gold gets back to the swing high and the S&P 500 corrects a little bit from these levels, the old August highs should be an easy target around $55.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
The ACD Method
- Thread starter sbrowne126
- Start date
FSG went out at 28.59. Stop should be the swing low below the monthly A down at 27.90. If we take that out, it means that Gold is likely rolling over again and taking out 1700. I would not want to be long in that scenario. The upside on this trade quite frankly is the moon. If Gold takes out the old swing high at 1923 this thing could trade to $100. If Gold gets back to the swing high and the S&P 500 corrects a little bit from these levels, the old August highs should be an easy target around $55.
Quote from Maverick74:
FSG went out at 28.59. Stop should be the swing low below the monthly A down at 27.90. If we take that out, it means that Gold is likely rolling over again and taking out 1700. I would not want to be long in that scenario. The upside on this trade quite frankly is the moon. If Gold takes out the old swing high at 1923 this thing could trade to $100. If Gold gets back to the swing high and the S&P 500 corrects a little bit from these levels, the old August highs should be an easy target around $55.
don't forget Bridgewater likes gold this year.
Quote from sarue:
TLT tested the daily A down at 115.99 and bounced. I have a confirmed weekly A up, so this trade could work out nicely.
You could be right. Joe T entered the TBT yesterday and Fish always says he's not the best at picking his spots. I was in the TBT trade last week, (got stopped out) and Doug Kass has been trying to pick a top for about three weeks in the TLT. I think you might have something there.
Nice strength today in IOC and PXD and of course AAPL.
Yet another failed A down in the ES.