Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Triangle Consolidation Pattern for Gold


Triangle Consolidation Pattern for Gold
By Mike Paulenoff, www.MPTrader.com

If what I see on the enclosed chart looks like a triangle consolidation pattern -- and it certainly does look like one -- and if it acts like a high-level triangle, then the GLD should be within a few hours of a thrust to the upside that initiates a new upleg within the longer-term pattern off of the October 2006 low at 55.55. Should such a scenario unfold, the GLD will be heading for 85.00-86.00 next.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!