Get started
JackOfAllTrades0

EGO trend reversal, looks very bearish

Short
Eldorado Gold Corporation (NYSE:EGO)  
JackOfAllTrades0 Updated   
NYSE:EGO   Eldorado Gold Corporation
Trend Analysis Chart Patterns Technical Indicators EGO Gold miners metal preciousmetals short Bearish Patterns continuation
5
2
trendanalysis chartpattern indicator ego gold miners metal preciousmetals short bearish continuation
EGOs run seems to be over for now, it had produced a continuation gap (bearish candlesticks), but that alone isn't enough to make a confirmation. After today with the 10% drop on shelf offering news.. it formed a bearish engulfing candle. Bearish engulfing also alone by itself is not enough to say bearish also.. so you look for volume confirmation. It seems we have that Double up those two candlestick patterns, along with gold making a pullback after breaking 1500... seems bearish too me. Trimmed position yesterday and will most likely close positions totally, or buy some short term puts. News seems to be coming with Skouries permit, so if that drops soon then its game on again. GLTA
Order cancelled:
wasn't bearish actually moved higher. went in with more calls because GOLD is screaming. Macro/global fears are making everyone flood to precious metals. GO LONG
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.