We have the daily swing.
We have a new high after the swing.
We have the crossover.
left oversold. SLowStoch turned up.
Daily maximum close.
Gap open today and no gap close.
It was an ICL at 22.50 and couldn't break below the previous ICL
A break above the 200 and holding these gains.
I highlighted by blue rectangles how important the 200 was in the past.
ANd a golden what happened last time price broke above the 200 .
It never tested back again
The correct strategy here is to get into the position and let it run.
It can rally for months. This is just starting.
Next resistance: 25.09 the bottom of the gap.
The only thing we are waiting for the big day when gold is printing the daily swing. You must be in position by that time.
Today is the last chance to enter in miners with a good price.
GDX,GDXJ,NUGT,JNUG will open wit ha gap.
To not get left behind the best plan is the next:
Plan the position size before the open.
Buy at the open the 50% of the planned poistion. Add 25% around the middle of the gap, add the rest 25% at the gap close.
If there is no gap close than at least you have 50% of the planned position. If there is a gap open you will have a better entry price.
I'm adding to my position with the same method today.
Though the gap was not filled we are in profits with all these late positions.
Price almost tagged the bottom of the next big gap. I was thinking what happens if Draghi tomorrow starts to strengthen the euro .. Gold could pop and miners would open wit ha huge gap. And we could have an island reversal with the first Bear Island in this bull.
Let's see what tomorrow brings.
I think $1228 is still on the table. Until those consolidation patterns are not invalidated I would advise to be cautious. Next week will tell. Gold and Silver still can push up a bit before anticipated drop. GDX has a flag on I am watching. If it breaks it up then it is bull.