GDX: Time at mode uptrend with two targets

8 abr 2016

GDX has traced a nice accumulation pattern, after the monthly downtrend expired in September 2015.
It's currently confirming a time at mode uptrend which aims for two possible targets, 23.21 and 30.67.
Considering the monthly downtrend mode resistance sits at 23.89, the first target seems way more likely to get hit.

I'm long from a discretionary entry I took a day ago, but you can enter either now, or on a slight retracement, with stops under 19.51.
Good luck if taking this trade.

Cheers,

Ivan Labrie.

8 abr 2016

Nota

GDX might outperform gold by 10 to 30%.

11 abr 2016

Nota

Good progress so far, I'm in from 20.72.
Let's see how far it goes.

12 abr 2016

Operación cerrada: objetivo alcanzado

Target #1 hit, if it retraces we might be able to go long again.
I'd tread carefully, considering where gold is sitting currently.

16 abr 2016

Operación activa

Retracement came, long again.

19 abr 2016

Operación cerrada: objetivo alcanzado

Boom, nice dip buying right here guys.

22 abr 2016

Operación activa

Taking a short miners, long GLD pair trade is wise.