Re GLD: long at 122.65 with stp at 119.80 after small loss of 0.75.
A review of monthly chart for everything stockcharts has, starting 1980, the median time between lows is 24.7months. A normal cyclic set would include 4yrs and 8yrs. Guess what!! Eight yrs matches major lows in gold, AND 2017 is the expected next 8yr low. So, play long only.
Oddlot
Stay on the right side of the cycle!