SNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
DO NOT USE THIS...
We can see from this chart that price is ready to drop!
It has hit a key level of support and bounced off, it has tested this area several times before going higher each time.
The last time this level was broken it was a freefall to the bottom.. The next time the drop may be even greater!!
Get the sell stops in!
Gold is rallying very hard, and the GDX Gold miners ETF is lagging behind. It is only a matter of time before it catches up, and is already beginning that catch up journey. This morning, it is up 1.5% and launching off, after a higher low bounce off a support region (grey box). Technicals are supportive, as is correlation to Gold prices. The MACD crossed up after...
The GDX ETF is about to break out. Initial target is the high 40 as this is the next resistance level. This also coincides with the 50% fibonacci retracement level. I would expect some consolidation following this target being met, eventually heading higher.
After months of choppy waters, finally bulls are emerging from beneath the woodwork right on time to position for 2020 flows. For all those tracking the current leg in Gold by now it should be crystal clear:
Conclusion for today’s GDX analysis: Price closing above 26.17 implies resumption of the current uptrend in GDX.
The VanEck Vectors Gold Miners ETF (GDX) is presented on the Daily timeframe with coverage of over 24 months of price action. The sell off and bearish market in the GDX that began in August of 2016 (not show here), continued until September 11, 2018...