NFTRH+; Bearish Gold Setup & Parameters

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.

gld

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.