depends on your time frame, I mean it bounced just slightly
intra day, otherwise the market is heavy and I think GDX will go
where the market does
see my comments from this morning, the 60 min GDX/GLD chart
combo with the 60 min GDX, is a good combination, if those
trendlines can be broken, then a decent trend reversal may occur,
but for now the trend is still solidly down while those trendlines
remain unbroken
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GDX 5 min
Posted by matt on 18th of Apr 2012 at 01:42 pm
GDX - Chart Link - will it bounce off support??
and it did bounce off
Posted by matt on 18th of Apr 2012 at 02:33 pm
and it did bounce off the support! also the GDX/GLD trendline was broken, again this is a 5 min chart guys, so treat it as such.
taking a long there was low risk i.e. buying support since your stop could be ultra tight. We'll see what happens the rest of the day
Was also back test of
Posted by harshblue on 18th of Apr 2012 at 02:53 pm
Was also back test of broken downtrend line. Other supports and resistance on the chart. Let me know if I am wrong somewhere.
matt would you buy GDX or GDXJ here?
Posted by millertavern on 18th of Apr 2012 at 02:52 pm
depends on your time frame,
Posted by matt on 18th of Apr 2012 at 03:16 pm
depends on your time frame, I mean it bounced just slightly intra day, otherwise the market is heavy and I think GDX will go where the market does
see my comments from this morning, the 60 min GDX/GLD chart combo with the 60 min GDX, is a good combination, if those trendlines can be broken, then a decent trend reversal may occur, but for now the trend is still solidly down while those trendlines remain unbroken