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JackOfAllTrades0
Apr 18, 2020 3:40 PM

waiting on the ego dip Long

Eldorado Gold CorporationNYSE

Description

as per request, analysis on EGO

I would wait to buy in the lower range in the box. The STOCH RSI always come down to around the 0 level before a move back higher. it seems to follow that pattern, looking back on the daily chart and see reversals happen when it bottoms out

also, the Fibonacci support levels are pretty close from the big dump previously and also the current downtrend. I would buy chunks of it on the way down but i think buying around 7.00 or high 6's would be a good bet for another swing trade higher.

Trade closed manually

i was wrong, what more can I say?
Comments
williamjver
Gold is in a downward trend trading @1,694.60 .

I see this playing out lets hope it opens Monday below support.

All indicators show EGO dropping to at the low 7's.

This chart should play out.
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