yep mia, and like I said below, what I've noticed over time is
that is price has been trending above or even below an MA for a
long time, when it finally tests it, price generally reacts off it
at least for a trade, the 50 MA hasn't been tested since Jan.
The key will be how the bounce plays out, I'll be monitoring
resistance levels and intra day charts
yep I think it will provide a trade, I don't see GDX going back
to highs personally maybe rally up to the MA's above on the daily
and form a lower high, but a bounce off/near the 50 MA seems likely
as this is the first time price has tested it since Jan.
that said I wish the 60 min chart has a better pattern and
positive divergence, which it does not
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GDX
Posted by mla127 on 25th of May 2016 at 11:08 am
Nice spot!!! this could leave a good looking candle right on the 50 .... baring any collapse today
GDX
Posted by mla127 on 25th of May 2016 at 02:57 pm
The 50MA be like ... "Got your back Bro" ... !!!! Bombs away from the rising 50 ...
yep mia, and like I
Posted by matt on 25th of May 2016 at 03:03 pm
yep mia, and like I said below, what I've noticed over time is that is price has been trending above or even below an MA for a long time, when it finally tests it, price generally reacts off it at least for a trade, the 50 MA hasn't been tested since Jan. The key will be how the bounce plays out, I'll be monitoring resistance levels and intra day charts
yep I think it will
Posted by matt on 25th of May 2016 at 11:11 am
yep I think it will provide a trade, I don't see GDX going back to highs personally maybe rally up to the MA's above on the daily and form a lower high, but a bounce off/near the 50 MA seems likely as this is the first time price has tested it since Jan.
that said I wish the 60 min chart has a better pattern and positive divergence, which it does not