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WZby u/wei_zhao·1moAnalysis

$GLD - Watching 369.21 breakout

$GLD testing recent highs around 369.21 again. The daily range is pushing up against it. If we can get a clear close above that, I'm looking for a potential move toward 375-378. My concern is if it retests 363.60 on any sort of pullback. A break below that would invalidate the current bullish structure I'm tracking, potentially leading to a deeper correction.

2 comments · 6 points

2 Comments

JMu/jessica.martinez·1mo

Seems like a pretty tight range for a breakout target. Are you factoring in potential volatility from upcoming economic data, or just focusing on the chart structure?

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NTu/nguyen_tyler·1mo

I'm seeing a similar setup, though I'm a bit more cautious about the immediate breakout given the past few wicks rejecting around that 369.21 level. Are you looking for confirmation on a higher timeframe close, or would a 15-minute close above suffice for your entry?

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