$GLD (Gartley Pattern) - Long Entry for the Knife Catchers

@Patternprofits just posted a link by @GoldMoneyNews. So I thought I would take a another look at the $GLD chart. Check out this Link on Gold. Explaining Money supply will lead to accelerated inflation. 
           Anyway, back to the chart of the GLD. Begining in May, it formed a Gartley long entry. While, I did not notice this earlier, the ideal entry was at the .786 retracement of the X to A leg at 151.62. However, trading the pattern you might have wanted to round up to 152-153, thinking it wouldn't retrace perfectly. Stop placement would be determined by your risk tolerance. While trying to catch a falling knife, it is probably prudent to keep a fairly tight stop. 
          I will be keeping a close eye here to see if I can possibly get a second chance at this entry, my stop will be slightly under 150.00. 

I do love criticism, feel free!

The $VIX $VXX

I was just thinking about the $VIX and this article on Yahoo somewhat answered my question. Check out the full article HERE.


"There is another possible explanation for VIX's seemingly strange reading. Many investors forget – or do not realize – that VIX only provides investors with a 30-day outlook on the U.S. stock market."

Daily

Weekly

 VXX