West Vault Mining (WVMDF) Monthly TF- Small Miner, Big Future?
Using volume to confirm price levels, WVMDF is in an accumulation channel and price has not been correlated with overall market choppiness, which is a plus in this environment. Other pluses; excellent sites which are shovel ready, an excellent management team focused on shareholder value (recent reverse split!), the patience to wait for spot to break some key resistance levels before tapping its decent sized cash reserves, and no regulatory hurdles to site production.
If it breaks the important .90 resistance, it should turn into strong support as .75 has. Next resistance is 1.15 and 1.27. If 1.50 breaks and holds, it's clear skies for a solid small miner going into a bullish gold trend. If that doesn't get you tingly, you're dead inside.
Stop loss trigger at .70 and a breakout confirmation holding above .90 means a good risk/reward ratio and possibilities for larger positioning if you are keeping an eye on resistance levels and adjusting accordingly.
If it breaks the important .90 resistance, it should turn into strong support as .75 has. Next resistance is 1.15 and 1.27. If 1.50 breaks and holds, it's clear skies for a solid small miner going into a bullish gold trend. If that doesn't get you tingly, you're dead inside.
Stop loss trigger at .70 and a breakout confirmation holding above .90 means a good risk/reward ratio and possibilities for larger positioning if you are keeping an eye on resistance levels and adjusting accordingly.
Trade active:
Entry 2/18 @ .9034. I may have jumped the gun, there might be a retest of the mid .80s range, which would be a better entry. I will add if it goes there on weak vol
since a downward drop in price with weak volume keeps my trade valid. If it goes there with med - strong vol, I will get out of the trade.
since a downward drop in price with weak volume keeps my trade valid. If it goes there with med - strong vol, I will get out of the trade.
Trade closed manually:
Exited last week flat for the trade. Until the dollar weakens, I will not be entering the gold space at all. Food commodities are getting the bid so that is where my money will be flowing.