Channel Guy Trader: GLD Cup and Handle Pattern within Channel System



Hello traders, going over some charts this a.m and going to attempt to record a video after I do more research. Looking over my gold charts I thought I bring to your attention a pattern within the GLD charts with the Proprietary Channel System on it showing a cup and handle pattern. This pattern allows us to have an intermediate to long term bullish price action on it. As you will see on the chart below the cup and handle is difficult to point out on the channel system especially if you are not familiar with it, but in all a signal WE have. Just look at the chart not at an angle within a channel, but as if the chart was turned horizontal and you will see the cup and handle pattern even more clearer and notice its at an angle, which can happen when stocks are forming continuation patterns within a channel or at a certain angle. That would make the breakout being above the 50% channel line where I noted breakout. Tilt your head slightly to the left and you will see the pattern better ( Seriously??!!) YES. Alright so thats it for right now will post more important stuff and try and get the video up. Like I said, my screen recorder has been acting up as of late, so I am going to see if it can get giddy today and not act stupid. See ya !! Enjoy. Oh yea remember our trade idea was AEM and GOLD. AEM consolidating into downward trendline, support on weekly, so a break over the big strong day candle from a couple days ago and a close over the trendline willl get me in some May Calls. Peace

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