ccaru
Long

Long GLD for medium term trade

AMEX:GLD   SPDR GOLD TRUST
75 2 1
After the most recent double bottom on the daily chart , there was above average buying interest over the past 4 days. Buying on continued strength for a medium term trade, with an initial target which corresponds to the longer term downtrend line. Stop is just under the double bottom: If GLD             has a lower low from here this idea would be invalidated.
Stop moved to 114.38
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I am moving my stop to 113.31, just below the most recent daily swing low, to reduce some of my risk on this position.
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