NUGTDUSTGDXJJNUGJDSTSLVGLD Renko is not playable in published ideas so I'll update this chart. My last post got little attention and I've been warning people about a sudden drop in gold, silver, miners. We're setting up a new buying opportunity but how low does it go? I would like to see GDX between 28-32. Hold fast.
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gold, my forecast that has helped support my miners forecast of a quick drop.
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This is still looking bearish to me. It's been a slow boring trade but I was smart to have a strangle for the drop. I don't think it's done dropping.. that lower stoch/rsi trend is calling.. I will be all over gdx if price drops hard again.
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Finally some more movement down. This is fantastic. I'm sorry if you got flushed. Look at big picture
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so far this has worked out the way I expected- gdx is fun to trade. I'm secretly hoping for a melt-down.. something that people wouldn't expect with gdx back in mid 20's but I suspect it found a bottom or is still hunting for one. It could consolidate and become very boring for weeks in this range or flash suddenly. Let's hope for lower prices to get an even better discount
@MRPAPAYA001 sure, very happy to help! I’m now adding a little on long side but hoping for deeper flush. Regardless, bear rallies can be profitable even if we go lower.
MRPAPAYA001
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What are the two indicators that you are using at the bottom of the screen?
Thanks for the analysis, great work!
gghsusa
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@MRPAPAYA001, Look for "wavetrend" or "wave trend" under indicators and you'll see some excellent options. From my memory, LazyBear (LB) is the original script writer for "wave trend" but other's have modified it and added moving averages ,etc.. I like the crypto wavetrend that includes a moving average.