Loading ...GDX Daily Update…Fractal
Glad Matthew mentioned the gold fractal…
Look at the rose shaded areas, the same fractal occurs on GDX…
The “hidden divergence” scenario is repeating from last year…
Note how the price dipped below the 13 EMA only to pop up again creating as now, BULL flags along the way…
Thanks Matthew…
Per my guesstimate: 2 more days of up action, watch the upper bollinger band area for a pause. Could have some sideways action before another drop…The drops could become fierce, monitor the 34 EMA. The price should stay above the 34 EMA.
We had a BEAR trap on Thursday, only to bounce back on Friday…
BULL/BEAR traps are expected on our journey UP…
One can play both the BEAR and BULL trade; however, needless to say, safer to be a BULL…
Thanks for the details Eagle.
Maybe up into fomc and a post 2pm shakefest after to get weak hands out.
Brilliant chart analysis, thanks. It looks good so far, and the indicators look bullish to me.
I realise the candle left on Friday and price action is bullish, I am flat right now so will be watching price interaction with my noted resistance levels, watch these also Eagle and keep us posted. Thanks for sharing your hard work buddy. Trying to get some chart work done on NG, will give you a heads up on what I see when I get it done and we can trade notes.
https://invst.ly/35td6
Eagle, a possibility if we do get the unexpected and end up dropping on Monday, I just wanted to have an alternative plan and see what we may be looking at. Some times I wonder why I do these things to my self.
https://invst.ly/35tk4
Thanks Eagle..
Your work is much appreciated. I look for your posts every weekend.
Your call for a downturn could be especially prescient given the hanging man candle four days ago…usually a sign of a top. Slope also has just started a new down leg. PM’S are much more fun to short..