Sorry for the messy chart I have on GDX.
Here's my short term opinion on GDX:
we completed an AB=CD since the top of GDX(around Aug 11th--Oct 11th), and gold started to lose its steam and people expecting a rate hike on Dec. But after the drop, we are forming a huge bullish RSI divergence on 4H (see red lines). From the beginning of the next week I'm expecting another head down and create a HL to form a double bottom, just like gold, i'm expecting a retouch of 124xish and then we are heading UP.
Short term Bull but I'm still holding my short opinion on GDX (expecting another AB=CD), coz really the Fed rate hike effect and strong DXY we had.
Good luck~and here's my potato~
Here's my short term opinion on GDX:
we completed an AB=CD since the top of GDX(around Aug 11th--Oct 11th), and gold started to lose its steam and people expecting a rate hike on Dec. But after the drop, we are forming a huge bullish RSI divergence on 4H (see red lines). From the beginning of the next week I'm expecting another head down and create a HL to form a double bottom, just like gold, i'm expecting a retouch of 124xish and then we are heading UP.
Short term Bull but I'm still holding my short opinion on GDX (expecting another AB=CD), coz really the Fed rate hike effect and strong DXY we had.
Good luck~and here's my potato~
Comment:
gold appears to have a breakout, and we need to let it go a bit higher, this idea on GDX still have higher rooms to go, YOLO
Comment:
nice breakout on gold, right now gdx is heading toward to the C price point on my chart, i may consider get rid of my gdx below 25
Comment:
So glad I got rid of all my GDX position yesterday, gold is so manipulated, chart is still valid
Comment:
gdx on 4H doesn't look too good for bulls right now, same as gold, gold had a institutional buy this morning, and now it gives back from 72-->63 atm now, watch out for the future PA, chart still valid, and i'm still expecting this bear AB=CD to happen.
Comment:
chart will be invalid if it goes above 25.5
Comment:
the price hit exactly on my C point, so far gdx is at $25.23 and on 4H it feels like it's gonna go above 25.5. Tomorrow the rate decision will be fun.
MACD n RSI are saying there are still a bit more room to go up, but it's touching the top of BB right now, Trade Carefully, Peace
MACD n RSI are saying there are still a bit more room to go up, but it's touching the top of BB right now, Trade Carefully, Peace
Trade closed manually:
Chart invalid
Comment:
.............I was not there during the FOMC...didn't know it dropped...(me cry more)....
Still, in order to make this chart still valid and hit D point, 3 things are needed:
1. Great NFP data on Friday
2. Hillary wins
3. Rate hike in Dec
Cheers
Still, in order to make this chart still valid and hit D point, 3 things are needed:
1. Great NFP data on Friday
2. Hillary wins
3. Rate hike in Dec
Cheers
Comment:
just a quick update, my TV won't stream anything besides OANDA gold, by far GDX is 23.83, on my 1H, 4H, 1D, it looks like there's more space down to go..trade carefully, btw, i'm not holding anything during election night, coz i dont wanna get myself a heart attack next morning, good luck folks
Comment:
did some intraday trade, all I wanna say is WTF, got pushed up n down, SL triggered several times...:(
Comment:
Last update: Chart totally invalid, but will consider load up some JDST. Congrats Mr. Trump, we'll see u in January
Trade closed: target reached