Suggested to jump on the channel breakout in GLD over a week ago(see buy breakout post). Below is an update on the breakout.
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So far so good after the breakout…yet nothing huge either. Decent price action continues in GLD, with the top of the channel about 4% away. This breakout is still fairly fresh, considering that GLD traded in a 5% band for the past 2 months. Would keep a stop just below the top of channel support.
