WillN12416
Long

All that glitters IS gold

AMEX:GLD   SPDR GOLD TRUST GOLD SHARES NPV
This chart is screaming for a breakout

The SPY is screaming for a retrace down

We are waiting for a confirmation breakout above the upper yellow resistance line at which point we will enter a long towards the targets set forth on the chart.


Best of luck traders
Comment: Were waiting for a confirming breakout above the upper wedge before trading. This idea is still valid . . .But not yet entered by us.
Comment: This is looking ready to GOGOGO.

We appear to have broken out of the wedge on the weekly. We need to keep an eye on this. Would like to see a little more movement out, followed by a retrace and a support at the wedge line as confirmation of the 'breakout'.

We will update everyone if we enter the trade.

Best of Luck.
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