GLD – Why Gold Is a Clear Short to Me

Jul 31

Price moved from the Lower Median Line (L-MLH) up to the Centerline, fulfilling the 80% rule.

Then we had two Hagopians, which sent price right back to the Centerline.

After the breakout above the Centerline, the next target was the Upper Median Line Parallel (U-MLH), which was reached rather quickly.

Finally, price broke above the U-MLH and was pulled up toward the Warning Line (WL).

Is this the end of the happy story?
I think so—because Gold has now reached its 2nd standard deviation, and there’s probably no more gas left in the tank.

The Trade:

- A logical target is the U-MLH.
- A secondary target is the Centerline.

At the very least, if you're long, this might be a good time to take some profits—because no tree grows to the moon.

For further details, I will follow-up with a Video explanation - See my Signature.

Aug 11

Note

The Pullback is playing out like clockwork!
Stalking the Short-Entry this week.