GLD Fade Trade Follow Up

Yesterday I put out this Trade Idea- FADE: GLD (Puts) . I actually like GLD and miners a lot, it's a question of timing to fill out the NUGT long and/or enter a GLD long, but very near term, 3C is clearly forecasting a pullback in both GLD and gold futures, since it's more along the lines of a pullback or fade of recent gaps up, I decided to use some leverage with options as there are few good choices among leveraged ETFs (too low volume).

 Accumulation to the left which I don't think was specific to this move, I think it's part of the larger base work being done that's apparent on longer term charts.

We have good migration/confirmation on the other intraday timeframes like 2 m.

3 m.

And all the way out to 15 min.

Actually we even have a negative out to 30 min, it's not as sharp, but the distribution wouldn't be as large and therefore wouldn't print as sharply as the shorter timeframe charts.

As far as the longer term base in both GLD and GDX...

No damage done whatsoever, I suspect a move toward $115 will put us a lot closer to a long term trending long position in GLD and / or GDX.