Posted by goldnice on 23rd of Sep 2020 at 07:24 pm
GDXJ Gold Stocks Jr ETF. Breaking down out of the
{Triangle} setup. Still looking to hammer in a {Wave 4} bottom.
Next support between $50-$51. Next trigger long would be $65.96.
Lots of stops hit in last 48 hours.
goldnice - I discussed that area last night potential support
from the May highs. I think GDX either tries to find some support
there or loses it and goes to its 200 day MA.
also regarding your wave count remember wave 4 cannot overlap
the high of wave 1, it hasn't yet but should price go lower it
could easily do that, currently GDXJ 52.1 and June highs 50.37, so
it's not very far away and that would invalidate your count as
labelled.
GDXJ Gold Stocks Jr ETF.
Posted by goldnice on 23rd of Sep 2020 at 07:24 pm
GDXJ Gold Stocks Jr ETF. Breaking down out of the {Triangle} setup. Still looking to hammer in a {Wave 4} bottom. Next support between $50-$51. Next trigger long would be $65.96. Lots of stops hit in last 48 hours.
goldnice - I discussed that
Posted by matt on 24th of Sep 2020 at 09:42 am
goldnice - I discussed that area last night potential support from the May highs. I think GDX either tries to find some support there or loses it and goes to its 200 day MA.
also regarding your wave count remember wave 4 cannot overlap the high of wave 1, it hasn't yet but should price go lower it could easily do that, currently GDXJ 52.1 and June highs 50.37, so it's not very far away and that would invalidate your count as labelled.
I corrected the typo below,
Posted by matt on 24th of Sep 2020 at 10:01 am
I corrected the typo below, wave 4 cannot overlap the high of wave 1, I had wave 3 cannot overlap the high of wave 1, again was a typo