Loading ...Backtesting the breakout
Backtesting support on GDX. My stop on GDX is a closing daily candle below 22.70.
This as USD/JPY backtests the support line it broke down from. USD/JPY could test as high as 110.15, also the mid-boll band resistance.
Gold futures should hold 1280:
If those levels dont hold on GDX/Gold, it’ll be a false breakout.
Thanks for this Nick.
Ditto…we need all angles QUICK…
Thanks for sharing
Because these are such big trendlines, my guess is we could bounce off of them for the next 1-2 sessions in order to make sure it holds. By then, the trendline on GDX will have fallen to 22.67. So I’ll keep my stop there, instead of 22.70 mentioned earlier.