Cycle Trading

[Duma]

Once GLD broke out from the trend line, M65 was flat and M5 was positive, I decided to give GLD a try.

It had a nice breakout for the first 2 days of the year, but then quickly retreated for two days. I could see that the open for Fri was going to lower than my entry and a gap down. Gap downs like this usually just keep going, so I bailed at the open with a very small loss.