SPDR Gold Shares (GLD): Facing Resistance

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GLD rebounded from the 50% Fibonacci Retracement level and currently facing 38.2% Fibonacci Retracement level. This Fibo level also coincides with the previous support turned resistance at about 120.

Looking at one year chart pattern, GLD is expected to trade between the range from 117 to 124 until there is a breakout to either both side.

As GLD is trading sideway, I am looking at Iron Condor (Option trading) as a trading strategy.

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Gold Breakout and Starts Uptrend

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Gold broke 1300 resistance of a Rectangle consolidation pattern and heading toward price target of 1400.

 

 

GLD is SPDR Gold ETF. GLD broke $123 resistance and heading towards the breakout target of $130.

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Intuitive Surgical Inc (ISRG) Option Trading Strategy: Butterfly

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Trading Plan

  • Ticker: Intuitive Surgical Inc (ISRG)
  • Direction: ¬†Bullish
  • Chart Pattern: Trading within an up trend channel
  • Price Target: 955
  • Duration: Out by July 20 (Earning July 20 AMC)
  • Option Strategy: Butterfly

 

Chart

 

 

ISRG Fundamental Data

 

Strike Price Setup

  • +1 July 28 945 Call
  • -2 July 28 955 Call
  • +1 July 28 965 Call

 

 

Risk Profile

 

  • Maximum Gain = $863
  • Maximum Loss = $95
  • Reward / Risk = 9.08

Original post from https://mystocksinvesting.com

 

 

Disclaimer: This is my own trade planning for own use. This is NOT a recommendation to buy or sell and I will NOT be responsible if anyone copy the trades without understanding the risks.

 

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