Welcome to gold mining shares discount days ! Up for grabs in the center aisle we have Yamana Gold.... and they also mine a decent amount of silver. These prices wont last long folks. Unlike Bitcoin... they will indeed rebound after the panic is done !
After this gold sell off I'm looking to reposition my self on some good mining stock.
The risk reward ratio seemss pretty good.
Will see how the story develop on Monday
Yamana has a beautiful structure. Breakout out and having tested the lower fib line, on it's way to 70% gains.
Gold prices on the rise may nudge this before EOM.
There are 3 reasons why I chose YRI Stock :
I am looking forward to a downward movement in USDCAD . (More explanation on Related Ideas.)
I also follow up the stocks related to the precious metal sector traded in the S&P 500 Index .
I think that precious metals are discounted according to the World indices.This is the most important reason. (More...
This is a great example of the wyckoff accumulation, as I've also noted on the 1hr $SHOP chart.
Considering GOLD is heading back to $1600, I think this is a good play with stops below 4.59.
Target #1 = $5.53 (Gap fill)
Stop = $4.64
Current = $4.93
R/R of 2:1. Not ideal, but with the wyckoff accumulation pattern and gold's macro bullish chart, I think it's worth it.
Consolidation and built up the momentum to hopefully ready to go. Held $4.67 resistance and should take off from here.
Pay attention to $5.11 breakout and stay above at closing. this will take off to $7.50 with help of gold price and some encouraging earning report.
Layered in 1000 at $4.80, pull the trigger a little too early, but hopefully all worth it in the...
Yamana Gold, Inc. engages in the production of gold, silver and copper. It operates through the following segments: El Peñón, Canadian Malartic, Jacobina, Minera Florida, Cerro Moro, Other Mines, and Corporate and Other. The company was founded by Peter Marrone on March 17, 1994 and is headquartered in Toronto, Canada.
TSX
