LOL, sometimes I do get too engulfed in a chart and overthink things. Normally when I do that much on one stock, it ends up going just the opposite. Gold is at a key level and did get rejected at that trend line. So many charts are showing price coming close to the end of a triangle point, which suggests a break one way or the other.
My biggest problem is trying to guess which way it will break, instead of just being patient and wait for the break, and watch out for false breaks and react too soon.
That is one thing about trading this etf as with others, they can turn on you fast and wipe out any profits. IMHO all of these triangle patterns are just consolidation periods and suggest a much bigger move is coming.
Working and scalping the highs and lows is difficult for me right now with not being able to watch it closely during the day. I hope to get in once a trend line breaks.
Best of luck to all.
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