Multiplicity Ep. 2: SPDR Gold Trust ETF (GLD) Glimmers of a RallyFrom the Rodin Musem in Paris, France to the Gates of Versailles in Versailles, France, gold is everywhere, but gold is not just for antiques. There is an opportunity developing in the SPDR Gold Trust ETF (Ticker: GLD), an ETF that tracks the price of gold. Gold has been digesting a multi-year move. GLD is setting up on big and small time frames (i.e. multiple time frames or multiplicity).
1. Weekly Time Frame. Pattern developing under the radar: inverse head and shoulders.
2. Daily Time frame. Break of the downtrend line, volume also came in today, and GLD peaked its head above the 50 day moving average.
3. 1-Hour Time Frame. Also a trendline break
THE TRADE: Buy GLD on dips, with a stop below the 50 day moving average.
*Disclosure: No positions as of this video (5.12.09) **
