GLD Follow Up

From yesterday's GLD Update

"GLD didn't do much today, but in the afternoon it did put in an intraday positive divergence that looks like it may try to fill today's gap."


The GLD put I decided to hold is still at a 12+% gain this a.m.


Today's charts thus far...

 This is the gap I mentioned yesterday and the 3C short term signals that suggested GLD would move higher today and likely try to fill that gap.

 The 1 min positive divergences in GLD yesterday which suggested to me GLD would move in to the gap today as it has, although it hasn't filled the gap. There is a current 1 min intraday positive divergence so GLD may not be done and may actually completely fill the gap today.

 The 2 min chart suggests the same, that GLD will make another attempt to fill the gap. The reason I decided to hold the PUT despite believing yesterday that GLD would move in to the gap today is based on the 2 charts below.

 At 3 mins, there's no positive divergnce, this suggests that the positive divergence in GLD noted yesterday is quite small, enough to fill a gap, but at this point that seems about all it is capable of, thus I decided to hold the GLD puts position. Furthermore...

The 60 min chart in GLD is quite negative, so I want to trade with the trend, in this case I'm talking about the 3C trend which means I want to trade GLD from the short side until the longer term charts tell me different. Therefore, any price strength with minor positive divergences as we see above, I want to use to enter short positions. In this case I've already entered near the highs of Monday, but I mentioned it in case anyone else was interested in GLD.