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Gold ETF Trading For Beginners
By Chris Vermeulen
Gold etf trading for beginners and taking advantage of the gold
market using the GLD exchange traded fund to generate consistent
profits in any market condition.
As I mentioned before, the past 5 months have been very frustrating
for most traders as we are stuck in this sideways price action.
I also noted that August to December is generally the stronger
months for gold. Although gold has been under selling pressure
during the last 4 weeks I think there is light at the end of the
tunnel. It's usually the darkest before dawn, but there are some
hurtles for gold to over come before we are in the clear which
I explain below.
1 -- The Gold Mining Stocks Index
An 10 year chart with a cup and handle pattern complete with a
breakout. Gold mining stocks have continued to collapse below
their support level. This does not mean gold is going to follow
but it is a red flag which needs to be noted for future long entry
points. Gold mining stocks in general are seen as volatile and
high risk types of investments so I understand why investors are
unloading their positions to lock in profits. Gold mining stocks
are pushed below long term support level.
2 -- Gold Stocks Index
An 8yr chart of the price action of gold stocks and you can see
that they are currently testing long term support levels. If this
monthly bar closes below this trend line then long term investors
should be sitting in cash until we have a new opportunity to enter
long or short. The HUI generally makes the move before the price
of gold so I follow the HUI in all time frames. The HUI is testing
long term support.
3 -- Performance Chart (Gold Stocks vs Price of Gold)
The past 2 years, from 2006 to present gold stocks have slowly
been underperforming the price of gold. This is generally not
a good thing to see if we want higher prices for gold. But the
good news is that gold stocks appear to be reaching levels at
which new rallies have started. Gold stocks under performing the
price of gold but near support.
4 -- Daily HUI Chart
I follow the HUI like a hawk as it fine tunes my entry and exit
point for trading GLD, DGP and DZZ funds. Last month the HUI made
a lower high and a lower low which is a red flag. While I don't
predict prices I am thinking these lower prices for gold stocks
are just panic sellers over extending a sell off. I would really
like to see an August rally kick into place. The HUI makes a lower
high and lower low on the daily chart.
5 -- GLD Gold ETF Trading Signals For Beginners
While gold stocks have been selling down, gold has so far been
able to hold some ground. As you can see in the chart below the
last three months gold has made higher highs, and higher lows.
Currently gold is testing Major Support at the 200 EMA. Gold ETF
GLD at long term support still holding its ground.
My analysis of gold above explains that gold stocks and indexes
are oversold and are at major support levels. Thus an August rally
is not out of the picture and we could have some favorable setups
in the near future. I would prefer higher prices, but in the end
movement is movement and we can profit in either direction evenly.
GLD gold etf trading for me is the most accurate trading vehicle
I have come across. I have been using my proven trading model
which avoids the price gaps and keeps risk under 3% for each trade.
GLD makes it simple to profit from the markets using a proven
trading model for trading long and short term gold setups in all
market conditions (bull, bear, and sideways).
My focus for short term trading is simple. Wait for a breakout
which satisfies my trading model, enter the trade and then exit
50% of position on the first sign of weakness. Exit second half
on a trend line break. etf trading for beginners is low risk I
provide GLD ETF signals which generate 2-5% profit within 2-10
days unless prices continue to run then we lock in a much larger
profit. I generally have 10-20 trades per year with gold.
About the Author: Chris Vermeulen is Founder of the popular trading
site TheGoldAndOilGuy. There he shares his highly successful,
low-risk trading method. For 6 years Chris has been a leader in
teaching others to skillfully trade in gold, oil, and silver in
both bull and bear markets. TheGoldAndOilGuy.com
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