Is GLD ready to bottom?

On Dec. 15th I posted a chart of Gold futures' long-term support. GLD is now approaching that buy zone on a second test. I am patiently waiting for price to enter a confluence of supports: trendlines, horizontals, and bollinger bands.

This trade has a very high R/R ratio. I am projecting approximately 15-point bounce to the upside, or roughly 10% move, with a stop 2 points below the buy zone.

click on charts to enlarge

GLD weekly

GLD daily

Update on Dec 28 @ 5:00 pm

Trade was initiated at close. I am using GLD Feb call spread. Will update the progress here...

Update on Jan 3 @ 10:50 am
Sold 2/3 of position. Stop to b/e.

Update on Jan 4 @ 12:15 pm
Out last 1/3.