Closed the gap and breaking out of a consolidation area - headed to new highs?? Looking for a metal that is not too far into a trend...
Moving averages on $GG are heading upwards in a nice trend. My stop will be the 20 EMA which is below the current supply area. 1st target = $13.04.
Compared to $NEM, ATR is less volatile on this one.
Entry tomorrow morning.
Also watching $COPX and $SCCO for copper play as well.
$GDX = $$$ add shares on pullback. $USO looking attractive as well.
Risk here is a false breakout and overall plummet of general market as this straight up rally may end drastically in SPX.
Moving averages on $GG are heading upwards in a nice trend. My stop will be the 20 EMA which is below the current supply area. 1st target = $13.04.
Compared to $NEM, ATR is less volatile on this one.
Entry tomorrow morning.
Also watching $COPX and $SCCO for copper play as well.
$GDX = $$$ add shares on pullback. $USO looking attractive as well.
Risk here is a false breakout and overall plummet of general market as this straight up rally may end drastically in SPX.
Trade closed: stop reached:
Hit stop today - all out. Name of the game.