GDX: Time at mode uptrend with two targets
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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.
Note
GDX might outperform gold by 10 to 30%.
Note
Good progress so far, I'm in from 20.72.Let's see how far it goes.
Trade fermée: cible de profit atteinte
Target #1 hit, if it retraces we might be able to go long again.I'd tread carefully, considering where gold is sitting currently.
Transaction en cours
Retracement came, long again.Trade fermée: cible de profit atteinte
Boom, nice dip buying right here guys.Transaction en cours
Taking a short miners, long GLD pair trade is wise.
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