Thursday, November 3, 2011

Long GLD?


 GLD 1 min

 GLD 5 min

 GLD 10 min

If you are long GLD, based on the above, it is wise to at least have some sort of trailing stop in place, here are a few suggestions.

 The 50-bar 15 min chart has held the  trends well, it's a little deep as a stop, but effective for consolidations.

 The 50 bar m.a. on a 10 min chart is a bit tighter, you can always blend the 2 on a partial exit or phased exit if need be.

The Trend Channel has held the Trend using a 60 min chart, it will continue to lock in gains for a bit longer so it should be above $170.

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