Kamis, 20 Mei 2010

GOLD - Double Topping Pattern

Last week we noted that GLD gapped through December's bearish island and we said that the gap should hold as support, otherwise we could be looking at a double top for GLD.

So when GLD gapped lower on the open yesterday, we had a perfect shorting opp. I prefer to trade gold stocks than the ETF, so I traded GG as depicted below.

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