Interesting Intraday Rounded Reversal in GLD Sept 30
I wanted to do a quick update post to show the “Rounded Reversal” pattern that formed recently on the intraday charts in GLD (Gold Tracking ETF). Let’s see it on the 15-min frame.
The Three Push Reversal Pattern in GLD Intraday
With Gold (and the Gold ETF of GLD) making a sudden and sharp reversal back to the downside, I thought it would be a good idea to highlight the “Three Push” pattern – one of my favorite patterns – that preceded the reversal and how you might have anticipated and then traded the reversal intraday. Let’s see it.
Two Chart Patterns and Overhead Resistance in GLD
Let’s take a quick look at the weekly chart of GLD (Gold ETF) to note a clean path to new highs assuming we solidly break the $100.00 resistance level at which price rests currently.
A 60 Minute Internal Look at GLD Breakaway Gap
I wanted to step further inside the GLD break and highlight the initial break, apex test, and then breakaway gap as this served as an excellent example to showcase these concepts.
A Look Inside Gold and GLD Daily Triangle Break
There’s been a flurry of activity in regards to the recent internal triangle breakout of gold from its lengthy triangle consolidation pattern. Let’s take a quick look at this pattern and what might be in store.
Gold GLD Comes into Support Plus Intraday Views
Here at the Trader’s Expo, there has been a lot of talk about gold, particularly with the volatility of the last two days. GLD (Gold ETF) has pulled back into a possible confluence support level – let’s see it and also see the volatile Trend Day Down, Trend Day up, and Friday’s morning gap action on the intraday charts.
A Look Inside the Trend Day in Gold GLD
While the Stock Market gave us a Trend Day Down, Gold gave us a powerful trend day up. I thought it would be more appealing to look at an upward-sloping trend day than a down one, plus it shows that the “ideal” intraday concepts I frequently discuss using the DIA, actually work for all markets…
Gold Makes Fresh 2008 Low
Those following gold may take note today of a fresh new low formed for 2008 in Gold and the GLD ETF. Such a development may have been unimaginable earlier in March or July but such a move has occurred. Let’s take a quick look: GLD (Gold Trust tracking ETF): I’ve drawn this chart starting in…
Gold Intraday Descending Triangle Break Example
Gold prices and the Gold ETF (GLD) broke an interesting descending triangle early this morning that I wanted to highlight to you. GLD 5-minute chart (StreetTracks Gold Trust Shares): Price began the day with a morning gap that was almost instantly faded for the opening trade. Price then rebounded off Friday’s close and the 50…
Is Gold Topping or Basing?
Gold has been featured prominently in public news stories, but the price has actually fallen almost 20% from its peak. Has the shining precious metal formed a top… or is it building a base from which to rally higher soon? Let’s take a couple of perspectives: On the daily chart, a down trend has been…