Potential GLD Stop

Using the Trend Channel on a daily chart, the stop level would be $152.75 on a closing basis, this would still keep you in the green as the position was entered between 148.50 and $152.50. This stop should be wide enough to allow for consolidation and moves like today. When using the daily Trend Channel I always try to keep my stops on a closing basis, however you should respect whatever your risk management plan for the trade is.

The Trend Channel will move up if GLD moves up and lock in further gains, but I would only use this trailing stop until or if GLD does what I suspect it might as detailed in the last post, even though it really has no reason to do such as a QE sentiment indicator after the Bernie testimony except to create a head fake reversal move.