Click here for reference PL graph, price chart.
Possible Gartley as well, although might not be very well formed (AB=CD does not confluence with 78.6% FR of initial downward impulse wave).
Bullish stance, played via a bull put spread.
Short 10 Dec 11 160 puts
Long 10 Dec 11 159 puts
Credit = $320
Max Loss = $680
BE @ 159.95
Looking for around 20% of risk.
Note: Adjust # of contract based on risk tolerance
The trade would gain with an increase in price of GLD (+ve delta), with the passing of time (+ve Theta) & with a decrease in IV (-ve Vega).