GDX: Time at mode uptrend with two targets
Aggiornato
GDX has traced a nice accumulation pattern, after the monthly downtrend expired in September 2015.
It's currently confirming a time at mode uptrend which aims for two possible targets, 23.21 and 30.67.
Considering the monthly downtrend mode resistance sits at 23.89, the first target seems way more likely to get hit.
I'm long from a discretionary entry I took a day ago, but you can enter either now, or on a slight retracement, with stops under 19.51.
Good luck if taking this trade.
Cheers,
Ivan Labrie.
It's currently confirming a time at mode uptrend which aims for two possible targets, 23.21 and 30.67.
Considering the monthly downtrend mode resistance sits at 23.89, the first target seems way more likely to get hit.
I'm long from a discretionary entry I took a day ago, but you can enter either now, or on a slight retracement, with stops under 19.51.
Good luck if taking this trade.
Cheers,
Ivan Labrie.
Nota
GDX might outperform gold by 10 to 30%.
Nota
Good progress so far, I'm in from 20.72.Let's see how far it goes.
Trade chiuso: obiettivo raggiunto
Target #1 hit, if it retraces we might be able to go long again.I'd tread carefully, considering where gold is sitting currently.
Trade attivo
Retracement came, long again.Trade chiuso: obiettivo raggiunto
Boom, nice dip buying right here guys.Trade attivo
Taking a short miners, long GLD pair trade is wise.
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