Friday, August 10, 2012

GLD Update

 GLD Daily is above the diamond, I wonder if it will look for a head fake move above recent resistance.

 The move up in GLD is not showing any confirmation on the fastest 1 min chart. This is a move above recent resistance so it could count as a head fake move, especially considering I'm more looking for a pullback, not a huge move down at least at this point.


 The 2 min serves as confirmation that there's a negative divergence at this move up in GLD.

 The 3 min trend looks horrible here.

Here's the 5 min.

I may be looking to short this move, I'll be a little more patient with it.

No comments: