GLD Trade on May 27, 2020 14:18 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: none
• Earnings Date: N/A

Reason For Entry:

• Playing the daily chart. GLD is in an uptrend and consolidating below its recent highs. Entered the trade at a key symmetry level which lined up nicely with the lower trendline. Risking about 1% of portfolio and watching for GLD to make a move to new highs.

Reason For Exit:

• GLD worked its way up to the Fibonacci Extension 78.6% level and I closed the trade for a 47% win.

Recap:

• The entry was correct as price retraced to a key symmetry level which lined up nicely with the lower trendline. I risked 1% of the portfolio and left myself room to at to the trade if price retraced and consolidated below my initial entry. The exit was correct as price worked its way to the Fibonacci Extension 78.6% level. Closed the trade for a 47% win.