Wednesday, December 5, 2012

GLD Long

I already chose a non-leveraged long position in GLD, but looking at it again today, it doesn't look bad in this area for at least a swing trade, maybe longer.

 GLD 2 min is putting in a leading positive divergence, there are a lot of gaps that could be filled on the upside here.

 The 3 min chart is leading positive as well so it seems like the move may be soon, within a day or two...

This is really where the probabilities of the trade are on a 15 min chart, leading positive right here, the 15 min is an excellent swing trade timeframe. When we get in to 30/60 min charts I could make some guesses, but this is where the probabilities are for now so I'll keep GLD long open and perhaps add to it if I have time.

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