I finally have something in play this morning – the Gold ETF (GLD). I’m actually shorting it, which makes for my first short position of the new year. My stop-loss is at the point where it tries to fill the gap from earlier this month (1/4). There is a lot of resistance overhead in the form of moving averages and price resistance – not to mention the glaring triple-top that is in place. A very solid risk/reward setup at this point.
Here’s my chart analysis on GLD.
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