Does Keltner channel breakout actually work on GLD? We tested it

This strategy made money overall, turning a 50.66% total return on GLD over the test period. The ride was fairly lumpy, with a Sharpe ratio of 0.57 and a max drawdown of -13.87%, which happened in a concentrated stretch from late January to early February 2026. The worst drawdown was sharp and brief, lasting only a few days, but it cut deeply into your account. The result is not driven by just a few lucky trades, as the average trade returned a modest 1.12% and the win rate was 45%, meaning profits came from a mix of winners and losers. The entry timing is doing most of the heavy lifting here, since your real entries beat 86% of random entry runs, so the exits are not the main source of edge. The edge is not consistent across all periods, as the strategy was profitable in only 3 out of 4 walk-forward test periods, meaning one losing stretch hurt the overall result.