Folks, being a long standing gold bull on the big picture it is a little weird for me to do this. But NFTRH+ is a service that focuses on technical trading and GLD/Gold are in a bearish setup. Hence, it is noted for those interested.
I don’t game the metal, as you know. I also don’t consider GLD the metal. It might be worth letting it breathe for a bit before taking any action, just in case it is a whipsaw.
The conservative triangle measurement is from 129 to 120. Today’s breakdown, if it holds, loads a downside target of 113.
Short/Sell Target: 122 (current level)
Measured Target: 113
Stop Loss: As suits risk tolerance if GLD puts on a false breakdown. But the top of the bear flag just above 124 has to be respected by bears if it were to be exceeded.
I remind you that NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted. They are meant as a starting point for further research if interested.
