As I mentioned 2 days ago, I do not like to trade against the TRIX on the 1 or 2 hour charts…
The DUST 2 hour TRIX is on a BUY…
GDX daily DID NOT “jump the line” so as far as I am concerned, see no reason to be long at the moment…
Also, I have put an emphasis on the TRIX 1,2,3 and the trend line cross. Last time this occurred, not only did the TRIX have a trend line cross, but the MACD also breached zero with the histogram leading the way. Currently, the MACD histogram is rolling over; this is NOT what the bulls need to see.
gdx
dust
Bear Flag breakout…
Note how the back tests of the Stoch trend line have been reliable in entry/exit points…
Use this simple, but powerful tool…Also note DUST has probably made a new, and even higher low; NOT making it back to the blue originally established trend line. This is an indicator of strength…
I am not trading DUST until the GDX weekly breaches the trend line at approximately $23.50
This is my proverbial “nail in the coffin” before I get active with DUST…
gdx
Learn to except the fact, “it is what it is” and always “go with the flow” regardless…