TradingView
SeltyKnight
Jan 15, 2017 3:30 PM

GDX - False Breakdown Island Reversal Long

VanEck Gold Miners ETFArca

Description

GDX broke out of it's downtrend channel not too long ago, also important to note that the 10ema crossed over the 20ema which is a bullish indicator. Right now it is trading sideways and consolidating and I am a expecting a move higher in the coming weeks. Anything under 22 would be a gift and stops should be placed if GDX gets back into the downtrend channel or 20ema crosses over the 10ema. Ride Ride the trend and keep it simple!
More