By: Scott Redler
We’ve been trading Gold since early 2008, tiering in and out of GLD with a strong net long bias. We are currently tier two long after two calculated entries.
Perhaps now we can get a clean breakout into new highs, and it will be a bullish sign for Gold if we can blast through highs with volume. In June Gold had two false breakouts. Will this time be different?
We are holding our macro shares and trading around our core position looking for a day-and-half big cash flow trade. GLD Needs to break and close above 123.25-123.60. Below again is my most recent take on Gold.