Gold Multi-Year Breakout

Discussion in 'Stock picks and trading strategies' started by Stan Lund, Jun 24, 2019.

  1. Stan Lund

    Stan Lund New Member

    This week we have seen gold breaking out of multi year consolidation on the weekly charts. Might be time to be looking at this commodity again.

    I would certainly be watching for a test of the breakout, but this is promising after so long at flatline. Here is the chart.

    https://www.screencast.com/t/osMVqdyS5GM

    Yeah or Nay?
     
  2. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    If you take GLD above 130 for the start of a new uptrend, in my opinion the 130 level becomes your risk guide moving forward. Nice breakout attempt for sure. Good luck.

    GLD 6.25.19.jpg
     
  3. Stan Lund

    Stan Lund New Member

    For sure, but not until it tests the breakout. That was a very long period of consolidation. I'll take the second.

    [​IMG]
     
  4. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    I like your trade plan.
     
  5. Stan Lund

    Stan Lund New Member

    I wish I could claim the strategy. This was developed by a friend in England around his lifestyle. Does pretty well. Over 300% in '17, 60% in '18, and not sure where he is at this year, but the system is great. Takes a whooping 45 min a week to manage.
     
  6. Stan Lund

    Stan Lund New Member

    Hasn't quite been a week, but so far so good

    [​IMG]
     
  7. Stan Lund

    Stan Lund New Member

    Just a quick update, pretty close to expected. I'll buy next BE over 135.66

    [​IMG]
     
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