Massive Monthly Cup and Handle on GLD

Here it is folks....massive cup and handle pattern forming. GLD could explode to the upside!

 

It has already broken the 130 level.
Will it break the 190 level?

 

i saw an image of jesus in a tortilla once.

 

Did you eat the tortilla?

 

A while back I backtested a lot of these setups and overall stats were not great. Plus some of them really hard to pin point and you need parameters. The more parameters the higher chance of overfitting.

cup and handle was not tested

 

The Cup and Handle Trading Strategy.
https://www.elitetrader.com/et/threads/cup-and-handle-on-bac.356343/#post-5336128
https://tradingstrategyguides.com/cup-and-handle-trading-strategy/

 

How are you planning to trade it?

 

Statistics updated on 8/26/2020.

Overall performance rank (1 is best): 3 out of 39
Break even failure rate: 5%
Average rise: 54%
Throwback rate: 62%
Percentage meeting price target: 61%
The above numbers are based on 913 perfect trades.

http://thepatternsite.com/cup.html

 

I bought 2 gold micro futures (Feb contract) and will add to my position as we move up. If we sell off from here I will exit for a small loss.

 

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HOPE it works for you;
that cup with handle pattern is a uptrending stock pattern. GLD is a good uptrend on monthly candlecharts + 50 month moving average uptrend