GLD - Low Risk High Reward

If you have been on the fence about buying gold             perhaps this idea will help. I present a weekly chart with the possibility of gold             in this descending triangle formation with a strong chance of completing in the near future. This position would target the 125 area by the end of this year with the possibility of breaking out and targeting 150 by mid-late 2015. Buying GLD             here with a stop at 114 and target of 125 in the near term at a current price of 117.4 at the time of this write up, gives you a position risk of 2.25-1 in the near term. Looking further out, if GLD             can break out of the descending triangle with strong conviction, we can expect to see a target price of 150. Giving you a risk/reward ratio of an outstanding 9.5/1.
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