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LOL on the gold. I nibbled a few more ABX $12 Aug calls, and also picked up some GG weekly $12 calls at .12. I've spent a few hours looking over charts and setups. There is no one size fits all pattern. Too many variables for them all to do the same thing.
This is a 10 min chart, but text book. The initial reaction is usually the largest. Then, the stocks pps will often trade in a channel for a bit, then make a better sized move.
I call this the airplane on a runway pattern. It's either going to take off and fly, or crash? These patterns repeat on all time frames, it just takes longer on the daily. If you look for it? You'll see it before a lot of the major trend reversals.
Nice to get lucky once in a while
That looks like a fun one. Lol
Normally I’ll start daily then 60min then 10min for entry and exit.
Btw Barron says gold could continue to slide so I’m joining on calls for sure!
AXP - I hope I have a chance to get some calls on this next week. I feel like I got really, really, lucky. I was gone Tuesday and Wednesday last week, and got home late Wed. I got up and was still half asleep when I looked at my go to list in 10 min mode. I've found that I do best when I view my 10 min list, 10 at a time and find the set up I'm looking for. I thought AXP looked extended on the 10 min chart, and shorted it with puts. THEN (duh!), I looked at the daily chart and noticed that it just broke past resistance....again. That's not normally bearish. As luck would have it, it dipped just enough to let me out with a small gain. I was lucky to have anything at all. Not a minute or two after I covered, it popped a .60 cent 10 min candle. The day I'm talking about, is that little red candle. Lucky, huh?
Have to watch them. Don’t normally mess with commodities but those charts looking nice.
One thing to mention about them looking the same. ABX just missed on earnings this week. That could be the reason it looks different.
The way I normally play them, GLD is good for a quick day trade with weeklies. If I'm looking for a more mellow, longer term play? GOLD is better suited. It's tame right now, but will grow legs and get violent under the right conditions.
AD used to say that NEM and NG were two of the best fundamentally. That was a few years ago.
Like ABX and GLD charts the most. GLD tighter pinch. Guess it depends on who’s lookin at em
Would think they would all be the same or very close.
GG looks like another day or two down to me.
Thank you. I’ll take a close look.
GG, NEM, GOLD, and GLD are my favorite ways to play gold.
Always rooting for ya bud!!
Might even join you Monday
I've got my fingers, toes, and eyes crossed. The calls I have are Aug $11, $12, and $13 strike. I'm not into any of them too heavy, and I got the majority of my position on Thursday. Just enough to help or hurt the cause. Thanks for the vote of confidence. You've got a good eye.
Lmao! That should change quick imo buddy
Like flies to feces, I'm all over it. Currently a bagholder, I'm sorry to say.
Liking abx. Posted it on Atm then came here to ask you for some good gold option plays and you already had abx up. Lol
Hell thats looking like a nice yo bet! Lolzzzz
Those long shot small bets are fun when they hit!
Love it!!
Congrats on your little bet!
That $45 bet looking better every day buddy!!!
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