N0tSwift

GDXJ - Gold - Watching for the reversal

AMEX:GDXJ   VANECK VECTORS ETF TRUST
Defensive plays aren't what they used to be. I tried Gold back on 9/2, but got out quickly as it fell with the market.
There looks to be a 3 week delay between the market's panic and a settling down into a move out of equities into Gold .

So fare, we're still bullish in the equity world, but Gold could have it's day again soon. A friend has me watching for the reversal.

*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Comment: We popped up today, but I'm still looking for a pullback to 53, possibly as low as 51.60
Comment: We're right at the top of the downward trend, with a rejection on the bigger timeline.
Comment: stoch says we're about to turn up I'll be watching for a break through of the downtrend and opportunity to go higher.
Comment: GDXJ is in a descending wedge, pattern says "continuation" of prior UP trend.
I'll be watching for a break out and back test, or buying on the bottom of the triangle with stops as we approach Red Downtrend.
Stopped out twice already for profits as it reversed.

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