In this update we review the price action and options flow dynamics and identify the next high probability trading opportunity and the price objectives to target.
In this video I will provide you with an broader picture of the GDXJ chart and I am going to show you why I think that there are a lot of indications that we might see a shift in the trend to the upside.
Strategy/Chart pattern: Bull flag Entry: 55.8$ Stop: 43$ Target: 90$ Risk/Reward-Ratio: > 2.5:1
I'm looking for this support to hold and provide GDXJ with a 15% bump back up to the $51 region. There's a clear invalidation level just under $43 to provide a tight stop-loss and 5.6 R/R ratio. This trade could take anywhere from 2-6 weeks to play out. Be patient and let it come to you. The idea with this trade is simple. Buy at support and Sell at resistance.
Also start watching AU GDXJ PAAS Good times coming to them added to my AU today took 3/4 appl short for profit staying short
Banks booming markets getting tired
Have a great day