GLD/SLV Update

As per yesterday's intraday updates and last night's post, the long GLD/SLV idea from last week (which was always meant to be a short term trade-I thought maybe as long as a swing trade) looks very much like the recent move down this week was what I suspected yesterday, a pullback and GLD/SLV have the opportunity to move higher. Thus far both are up today and up the most since the pullback began on the 27th.

 GLD since the trade idea last week in white, the pullback and today's start of a move higher.

 Here's the 15 min chart showing the accumulation for the idea last week and the reversal for the pullback as well as a recent positive divergence yesterday suggesting this was a pullback and GLD has more to go.

 The 1 min chart showing yesterday's positive divergence and GLD leading positive intraday.

 The same is true for SLV

 The positive divergence after the pullback...

And the 1 min intraday is starting to lead.

Keep in mind, these were meant to be quick trades, you might consider a trailing stop here.