GDX - Chart Link - low the only divergence
that's worked on GDX daily is reverse divergence. Otherwise big
sell off today, bull's don't want to see too much of Friday's
candle taken away, volume is still light but otherwise ugly price
action.
At least I know that most of you took a lot of profits on Friday
and some yesterday because you always get retracemet pullbacks
after the first bounce in an extended downtrend
Posted by limitless on 2nd of Jul 2013 at 04:20 pm
Thanks Matt...But IF we got 5 waves up from the bottom, that is
wave 1 up.
Then wave 2 retracement is usually into the 0.500 to 0.618 fib
levels, and at times even deeper. THAT is the time in fact we
should get best entries, according to EW guidelines! Or am I
mistaken? Thanks
GDX
Posted by matt on 2nd of Jul 2013 at 02:53 pm
GDX - Chart Link - low the only divergence that's worked on GDX daily is reverse divergence. Otherwise big sell off today, bull's don't want to see too much of Friday's candle taken away, volume is still light but otherwise ugly price action.
At least I know that most of you took a lot of profits on Friday and some yesterday because you always get retracemet pullbacks after the first bounce in an extended downtrend
Thanks Matt...But IF we got
Posted by limitless on 2nd of Jul 2013 at 04:20 pm
Thanks Matt...But IF we got 5 waves up from the bottom, that is wave 1 up.
Then wave 2 retracement is usually into the 0.500 to 0.618 fib levels, and at times even deeper. THAT is the time in fact we should get best entries, according to EW guidelines! Or am I mistaken? Thanks
:)
Posted by auni on 2nd of Jul 2013 at 03:19 pm
:)