Wednesday, March 18, 2015

Holding UGLD (Gold) for Now

This seems to be a side effect of a potential leak as shown on the EUR/USD and the $USD divergence earlier today. However for the time while I wait on a reversal process in $USD to take place and see how GLD reacts, I think I'll keep the position open for now considering good confirmation thus far, which is early on.


UGLD already at a +4% gain in just over 30 minutes since the Trade Idea- UGLD (3x long Gold/GLD) post just before the F_O_M_C policy statement, see longer term charts in that post as well.

 Since, GLD has seen intraday confirmation, something some of the averages are lacking.

2 min GLD confirmation, given the short period since the statement, this is where I'd be looking for confirmation.

5 min leading positive with what looks like a head fake move just before the pop, as usual head fake moves tend to be one of the best price based warnings of an impending price reversal when confirmed.


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