Hi Everyone
I forgot to mention GLD, which is a Gold ETF …
Having been bullish for several weeks now, GLD stands on the precipice of a new breakout from its June highs.
The OVI was positive for virtually all of August on GLD and the early August bull flag was an easy trade even if the OVI was only just into positive territory. The flag itself was good enough on its own.
GLD:
So far today GLD has gapped up to over $123 and we’re very close now to the June highs. So we’re either talking about an imminent breakout or a double top. To be tradeable to the upside we need a clean breakout. The doji on 26 August may be the result of a bad tick so we can discount that. But at this moment it’s looking positive for GLD.
Another word on Forex:
Last week I introduced you to a successful Forex program where nearly all the work is done for you. That’s an approach that suits some people but not others.
If you’re an active Forex trader and prefer to be a bit more hands-on, you may want to look at this link here. As you’re aware by now, Forex isn’t really my gig, but many of my members do like the cut and thrust of Forex. For me, I’m comfortable with equities and options, but each to their own.
So, while some folks respond better to following someone else’s trades, many investors prefer to adopt a method and then use their discretion. Last week I gave you information of the former. This week I’m balancing things out and giving you some information about a more discretionary system. Again, it’s not my thing but here’s a report that you might find interesting.
http://www.triadtradingreport.com/?a_aid=FlagTrader
All the best
Guy
