From 1/27 on the blog: "GLD has been above the JanP after being below monthly pivots for 2 months straight, and now this is the 2nd time above the 1HP / Q1P combo (hard to see because same level) at 105.22. Above that is bullish because now a market that was very beat up is suddenly above 3 pivots. Then the all important YP is not far and may test."

YP Tested and clearing as of 2/4/2016.

And then from 2/1 on the blog: "Last week I noted on the blog that GLD might be putting one of the best weekly bars in quite some time." "But it did clear the 1HP (orange dots) and that is potentially a big deal, because it has been below major pivots for so long." "Ah ha! Now we see the current FebP at 105.78. This means 3 pivots are in the 105 area: 1HP 105.22, Q1P also 105.22 and the Feb P. Easy hold above that support cluster at 105. Next would be to watch reaction at resistance at the YP."

The second time above 105 off to the races and didn't look back.

The daily pivot buy was 1/25 (ie close above Q1P), although admittedly a buy with the same method on 1/7 was cut on 1/11 for a small loss. A longer term weekly chart partial buy was triggered the close of the 1/25 bar (ie 1/29) or for those reviewing charts on the weekend the open on 2/1.

This is a simple pivot trend following strategy that means buying was is above pivots and not owning, hedging or shorting what is below pivots.