i am looking at that chart and it sure seems to me 55 is a magnet
for it on this leg up . 55 was the high in 2012 and i think its going back
to that area fwiw
gdx
Started by
gannman
, Jul 08 2020 05:45 AM
2 replies to this topic
#1
gannman
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Posted 08 July 2020 - 05:45 AM
feeling mellow with the yellow metal
#2
orange
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Posted 09 July 2020 - 01:50 AM
I've been sitting on GDX and GLD call spreads for 4 weeks. It's nice when the are ITM, but they expire July 17 and August. Now I have to wait for them to realize the full gains.
We just had breakouts on both gold and silver. Uptrend is still intact, so I see no reason to close yet.
"When your position is underwater, average down" - Professional Trader
#3
tradesurfer
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Posted 09 July 2020 - 08:11 PM
That is what I was thinking too. Until I saw this.
Potential target is 156 in GLD
Bearish Wolfe Wave
And also looking at the dollar index I see a possible aggresive move up soon.
Uptrend is still intact, so I see no reason to close yet.
Edited by tradesurfer, 09 July 2020 - 08:12 PM.
