Gold Miners $GDX may be heading for a reversal

A Gartley and a Cypher pattern is pointing to the same exact destination for a sell reversal. We have previous structure at $31.31 & $29.38 coupled with confluence with two 1.27 extension ratios. $29.95. and $28.96 at the .786 retracment will be our kill zone.

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hey this is good have you considere the small cypher forming? ending at 26.5 or 27 ? lining up with a lil bit of structure?, this lil pattern will make the market to take more time getting at your killzone level.
+1 Reply
Yuba_Tamazgha eXcess0070
hehe Yes I have seen it.. I've literally sat for hours debating if I should add it in. But from my recent experience, the bigger patterns with more bars seems to cancel out the little patterns forming within the bigger patterns. I might be wrong, the little cypher may take this who trend down. The market is full of surprises.
eXcess0070 Yuba_Tamazgha
yeah, I',m not saying that the lil cypher pattern will reverse entirely the market ( evenso it is highly probably ) connect with a rayline or a trendline your "X" and "B" leg and you will see that the lil cypher ends meeting up that trendline it has also ALOT of structure, and is showing Extreme RSI Over bought conditions. I would bet on the lil pattern.

Let's make a bet :P ( BTW I went to the dentist today, that Bit%&ch took off 1 tooth ) my mouth is bleeding like hell, ( I look like a freaking zombie right now )
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