Gold has continued its bullish start to the year after it made a double bottom just above $1500 in late December 2011. Price per ounce is now closing in on resistance @ $1750-$1800, a level where the previous sell off was initiated. The Solas Trend Finder Algorithm (STFA) has tracked the price of Gold as it follows the SPDR Gold Shares ETF – GLD, which is also a component of the Solas M Series Global Portfolio.
As previously reported Gold had benefited from concern from the Euro-zone slipping back into recession and also after mainland China imported the most metal ever from Hong Kong (Blog 13th January)…On the Back of this, late in January, Gold prices were inspired even further as the US Fed announced low interest rates until at least 2014 and a call that inflation was subdued has propped up the precious metal.
GLD Chart 13th Jan.
As you can see from the Chart below the Solas Trend Following Software has captured the move in GLD perfectly as it continues to adjust the intelligent dynamic stop and lock in profits along the way, currently netting 5%.
GLD – Trend Following Open Position
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About the Solas Trend Finder Algorithm (STFA):
The Solas Trend Finder Software is designed for traders and investors who want to take advantage of short, medium and longer term trends across multiple timeframes on all major asset classes including global indices, equities, exchange traded funds (Etfs), commodities & forex.
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The Solas Swing Trading Model is an end of day trading strategy which delivers high probability trade signals both long & short within a defined trend across the main indices, equities & etfs.
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