GLD 15 minute
This is why I like multiple time frame charting. Not only is GLD sitting right on top of major support, but now the 15 minute chart has an ATR SHORT TRIGGER at 106.74. Breaking below that level will serve multiple masters, breaking support as well as trigging a short-term ATR trade. Note also that the break of 106.97 level already triggered a Blue Wave Sell Signal.
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In two days, my GLD Jan 105 puts have doubled in value, from $1.18 to $2.36. The analysis underlying this trade has been set out in detail on my blog over the course of the past 48 hours. Throughout this period, I have been net flat the equity markets, preferring to wait on a better risk:reward set-up. It's coming in the S&P, we are just not there quite yet.
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