Hubert Senters here.
Let’s take a look at GLD. Obviously I’m having a Gold Trading Webinar 101 tonight. I’ll link to the back of the video after this video you can sign up. I’ll meet you tonight at 8PM EST. Gold here, GLD. If you’re trading gold futures just use gold you can use the smaller contract or the micro. I don’t like the micro actually hold on. They’re called something weird. Hold on just a second.
I like the big one. I don’t like the mini but I like the micro so the biggie is good. Let me move you over here this what I’m saying this. So the big gold contract last contract got decent size. The mini contract hardly anybody pays attention to and the micro. A lot more people pay attention to it. So I would trade this one. I would skip this one and I would trade that one. So that’s my recommendation.
Now let’s get back to the scheduled video at hand. So GLD if you don’t trade futures you can trade an ETF on GLD. I think GLD is going to ramp back up to $160 to $162 right now on a daily chart. The 10 minute fired off a daily signal which is good or the 10 minute fired off a signal which is usually good for about five hours.
Now we’re looking for next is for this 60 minute signal to close above $144 when it gets to $144 then we could bid long some GLD and ride that puppy to about $160 to $162. Like I said I’m doing a Gold Trading 101 webinar tonight at 8PM EST. I will HYPERLINK you to that sign up page.
Good luck. Hope it helps. See you tonight at 8PM EST.