Loading ...GDX Daily…Agree with Mark–Bull Flag being formed…when does this break out?
http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=0&mn=3&dy=0&id=p12660416483&listNum=1&a=385190219
Back and forth between blue lines till the breakout occurs. Thus, selling at the top was a prudent move Friday. I am all over NUGT when the upper blue line is breached…and will buy back into NUGT at the bottom of GDX blue line if a bullish formation on the 2 minute charts presents itself. Monday could be a pop and drop to fill the gap and retest upper blue line? Many potential scenarios. Project, monitor, and adjust.
Eagle,
Nice Chart. Nice to be out of Dust as of Friday…can sleep again!!So you will exit Nugt when the upper blue line around 18 is reached?
Many thanks
Dave, still have a gap and a 1/2 gap. Think layers of resistance. Gaps to fill, moving averages to breach. Start with the 13 EMA in green…Just remember the trend IMO has not changed till the 13 MA has crossed back above the 34 MA on the daily.
15.24 was the 2008 low so that is a key pivot. 15.24 is a three quarter gap fill, so achieves the gap fill more or less, and where the 13 EMA sits just above. one strategy: enter short at GDX 15.24 with a stop loss just above the top of the gap, say 15.54, risking 2%.