Thursday, June 28, 2012

Closing 1/2 of GLD Put

Here's why...

The trade is at a 44% profit and there are some signs of leading positive divergences on the short term timeframes.

 GLD 1 min leading positive

 GLD 2 min leading positive

 3 min in a positive divergence and leading a bit.

I'm not closing the entire position because the 5 min chart remains in line with price, but I do want to take some of that profit off the table in case the 1-3 min divergences migrate to the 5 min chart.

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