GLD (gold ETF) has hit my final target (T4) for a 12% gain on the unofficial trade (GDX was our recent proxy) and now offers an objective level to book profits and/or reverse to short with gold at resistance, with negative divergences in place on the 60-minute time frame. Previous & updated 60-minute charts below.
GLD 60m July 20th
GLD 60m Aug 19th
With a reaction in GLD likely off my final price targets, GDX (gold miners ETF) also offers an objective short entry for a pullback & will be added as an Active Short Trade at current levels. Price targets (in yellow) & the maximum suggested stop on the 60-minute chart below.
GDX 60m Aug 19th
FYI- Depending on how the charts develop going forward, I might add an additional downside target around 84 on GDX.