GLD Monthly Breakout Imminent!

11 month accumulation with a big range expansion in Feb. There is the possibility to expect a second level target here which would bring the price target to around $204. I'll wait till the end of Feb before entering to await confirmation of a breakout.
As long as the price stays above ~173.80 we will have a confirmed breakout.
Closing for the month above $173.80 would make the monthly range expansion greater than the previous candle, confirming the breakout.