Newmont Mining NEM - Daily - Setting up for a 3 pt rally
We need an entire day above the "max time" level mentioned on the chart for a 16-day rally towards 28/sh.
Earnings are due in 7 days, so be mindful of that. If you can't accept a major move against you, then don't take this trade.
If the buy signal triggers, then we can look for a rally for 16 days that could carry up to the measurement from the low up to the "max time" (22.20 up to 25.14 = almost 3pts up to 28 for a target).
Note how well NEM has moved with these "TIME AT MODE" concepts in the past. Note the many other "time at mode" charts I have presented here at TradingView.
25.36 last NEM
Tim 1:02AM EST 7/22/2014
Earnings are due in 7 days, so be mindful of that. If you can't accept a major move against you, then don't take this trade.
If the buy signal triggers, then we can look for a rally for 16 days that could carry up to the measurement from the low up to the "max time" (22.20 up to 25.14 = almost 3pts up to 28 for a target).
Note how well NEM has moved with these "TIME AT MODE" concepts in the past. Note the many other "time at mode" charts I have presented here at TradingView.
25.36 last NEM
Tim 1:02AM EST 7/22/2014
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