As I mentioned in my post of last Sunday, a breakout of gold price outside of the ascending triangle (see above chart) gives us a buy trigger.
Today gold price surged to $977.4 with a gap up, above our entry signal of $975.
I buy gold through the SPDR Gold Trust ETF (ticker: GLD) at a price of $96.16 for a total of $10,000.
I put a stop loss at $94.00 in the event this would prove to be a false breakout.
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