Loading ...The Chartology of the GDXJ
Here is a classic breakout
This chart serves well for Instructional Purposes
Rambus Teaches that when a Pattern has a BO , often , instead of an immediate impulse move, a smaller pattern will
develop at the breakout point.
Often it plays out just below the BO but also there can be a “Straddling Pattern” which weaves along the breakout line.
Like This.
Once the smaller pattern breaks out there is a high percentage likelihood the Impulse will start…in this case unfortunately its Down.
Again…this is classic chartology that interested members have learned to use and use successfully in their own charting .
Rambus is a teacher.
“Give a man a chart and he will profit for a day. Teach a man to chart and he will profit for a lifetime”
Stay tuned on this one.
Nice one. Yes, more downside looks likely. It’s really a question of how much. We are in some kind of historical, horizontal support/resistance zone at the moment though.
Jordan’s comments from Friday says it all, IMHO:
https://thedailygold.com/gold-is-weak-in-real-terms/
“As you are probably well aware, the precious metals sector is approaching a breaking point and Gold’s weakness in real terms is another troubling sign. Moreover, Gold’s fundamentals are also warning of a break to the downside. While traders may have an opportunity on the short side, gold bugs and bulls should de-risk portfolios, handle their emotions and wait for the next true low risk buy opportunity.”