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Looking at the 10-min GDX chart, we could either be in the right shoulder of a bearish H&S or about to complete a smaller, bullish inverse H&S. Any opinions on this?
sure looks like a bearish H&S to me. Not perfect shape. If the right shoulder is going to be symmetrical with the left, we will know by noon tomorrow.
However, renko chart (#37 from newsletter) and the GDX system are both on buy signals. I'm not ready to short GDX yet.
only that h/s are better at the top/bottom of a trend.
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Whither GDX?
Posted by lsherrer on 6th of Sep 2011 at 03:23 pm
Looking at the 10-min GDX chart, we could either be in the right shoulder of a bearish H&S or about to complete a smaller, bullish inverse H&S. Any opinions on this?
GDX H&S
Posted by dallassteve on 6th of Sep 2011 at 05:02 pm
sure looks like a bearish H&S to me. Not perfect shape. If the right shoulder is going to be symmetrical with the left, we will know by noon tomorrow.
However, renko chart (#37 from newsletter) and the GDX system are both on buy signals. I'm not ready to short GDX yet.
only that h/s are better
Posted by frtaylor on 6th of Sep 2011 at 03:29 pm
only that h/s are better at the top/bottom of a trend.