Short $GDX 34.53 SL 37.49 (-8.6%) TG 12.40 (+64%) Regular Flat ABC Pattern w/ Divergence
Please like/follow for my sake. This is continuation of my REBOOT series. Since the REBOOT 1, I'm batting 7 for 7 in my trade ideas, including silver, ES, GDX and GDXJ. Scan thru them and hit replay on each one (the play button is on the right of the chart, a lot of people don't realize that for whatever reasons). It will surprise you how accurate it is turn...
$GLD / $SLV Reversal BULLISH for $GOLD
This is a short term zoom in for REBOOT 3.21. It will not get updates bc it expires soon. Please click on chart below for detail and updates to main trend:
Again, this is a draft. Will not be updated. Get updates at: or cut and paste to address bar '
This is the continuation of GOLD CRASH REBOOT posted Friday 5/22. Price action today (5/26) demanded a new map. I also feel like this keeps the knife sharp. My updates (and writing style) will make more sense if you read the last piece first. After running through my regression sets, this is what keeps up coming up almost 60% of the time. Nothing else above...
This is the reboot to analysis of Gold prices. I spent the last 45 days soul searching and found something worth sharing. I'll post it now and work on details later. The title is kind of a misnomer, but I intend it to be that way.
My gut tells me that gold is going up (probably to 1775-1800) and gold miners are headed up too. HOWEVER, there appears to be negative divergence on both gold and GDX. A more patient (and wiser) trader than me would wait for that upward trend to be broken, then short this baby! Unfortunately I keep getting burned by Swing FOMO!!!
NUGT - Looking for break of 73.07 , Stop signal 57.23,
Someone said that going LONG with gold is shorting humanity.
Shorting GDXJ from $37.17 with a target of $27.86 to $30.00. --------------- I believe that with markets potential to fall we will likely see another round of weakness, even if briefly, for the miners and gold in general. The potential for more profit taking or selling for margin have been greatly increased with the rapid rise in GDXJ over the past week and with...
It now creates a great shorting opportunity
Gold has been consolidating right above the recent highs, since bottoming out last month, and looks prime for a breakout. I went long this morning right at the open on the gap up. Really like this pattern occurring in GOLD which could pick up some momentum near term. GDX is also a valid play for less risk. Entry - 12.10 Stop loss - 10.90 Target - 14/17.50
Gold has been a very volatile commodity last month but looks like a recovery is in the midst, $NUGT looks good for another leg up here. Long above 12 with a stop loss at 10.48. APT, a coronavirus play, has been consolidating right above the rising 5DMA. I think APT is right about to lift here. Good above 14.75 with a stop loss at 12.85. WMS, a utility...
Time for metals to shine? Extreme volume in a very peculiar bar.... seems to me like big ol´accumulation by smart guys. Low Risk High RR Trade guys.
Gold prices will catch up USD index. For that, gold prices will drop to $1400 or below.