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HumanPiranha

Cup and Handle - Gold gaining strength

Long
VanEck Gold Miners ETF (AMEX:GDX)  
HumanPiranha Updated   
AMEX:GDX   VanEck Gold Miners ETF
Gold GDX GDXJ DXY XAUUSD
5
0
gold gdx gdxj dxy xauusd
Miners seem to be waiting for Gold above 1219/20 as a breakout. The next fib level will be around 1235-1240.

TP at 25
TP2 at 24.75
ST 22.41

This is if we break the cup and handle.
If you are a shorter term trader I suggest waiting to see for a clear breakout and buying the momentum.
Pce.
Piranha
Comment:
Breaking down on the downside of the triangle. Reversal pattern now. I suggest exiting the position.
Gold is weak, dollar may rally on Yellen speech on feb 1st and in anticipation of the events shorts will close their positions.
Trade closed: target reached:
Whohooo!
Comment:
I had closed and reopened, no reason to celebrate here I guess. That triangle forming on the cup and handle was great. False breakdowns and breakouts will happen.
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