Here is my chart of GLD during post-market trading today (Thursday, Aug 4th). I sent this chart to my followers alerting them of the next day’s market bias/trend and trade setup.
If you don’t know what spike alerts are, let me explain briefly. In short, the market gives of these rogue price spikes which I have been able to filter and identify. On top of that, some data feeds filter their data depending on the chart timeframe you are loading and will only use the AVERAGE price and not every tick to create the price bar on the chart to remove these spikes.
Meaning, even if your charting platform and data feeds don’t filter out these rogue price spikes then you may only see these price spike with specific chart time frames like the 30-minute or a 10-minute chart. It varies from day to day and when these special rogue spikes happen.
Bottom line, if you see these spikes, 80% of the time we see the price spike target reached within 24-48 hours.
Thursday Aug 4th Spike Alert:
This shows you the spike down as it was taking place with my automated spike identification software. This spike took place right after the market closed Thursday giving us several hours in afterhours trading to enter the trade (short gold, or buy an inverse ETF).
GLD didn’t only drop to the price target of $128.87, but gap below that and continued to fall all session closing at $127.55 a share. There are many ways to play these spikes in price of gold. You can trade the ETFs or futures contract as shown in the chart below, or trade the even faster moving ETFs like DUST or NUGT, GDX, GDXJ, or even a high beta gold miner stock.
Trading Chart Post Spike Alert:
Back in April/March I shared many of these spike alerts trade setups and I also talked about the best ways to trades them and my recommended USA/Canadian broker and also the CFD and spread betting firms I use.
Check out this post showing spike alerts in more detail and best brokers: Click Here
In short, while most price spike alerts are not huge by any means, in many cases these spikes will provide $1-$3 per share profit and if you are active trader with 500 or 1000 share lots or trading futures with a $5000 account size you can making some decent weekly/monthly gains with these special price spikes.
Get My Special Secret Spike Alerts Today: SPIKE ALERTS