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.
No comments:
Post a Comment