NEM: Shorting the topLet's see if we catch this top here. Looking for a retest of the KEL below.
Stop loss at 41.39, and risking a small amount (0.5-1%) is fine.
Gold futures and spot look ready to move down and NEM is extremely overbought here.
You can also take a pair trade against GLD, other miners, etc. I'll share a few example setups in the comments.
Check out my updated track record here: pastebin.com
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
