Posted by sander51 on 24th of May 2023 at 11:05 am
Steve and Matt have noted a gap in GDX around 31.11 which was
formed in early February. However thatgap was filled in early
April when GDX was rallying to the 36 area. So just curious why
that gap is still being mentioned as I thought once gaps were
filled they were no longer that important
yeah that's true, was filled. otherwise the gap isn't focus here
and I removed that from the chart, the 61.8% Fib is what I'm
focused on and rooting for price to get to, and if it loses that
would be the uptrend line
other things I'm watching is the 2hr chart with the GDX/GLD
ratio trendline, and any sort of intra day pattern that signals a
possible reversal such as a wedge with pos div or a trendline break
(on a 15, or 60 min chart
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Steve and Matt have noted
Posted by sander51 on 24th of May 2023 at 11:05 am
Steve and Matt have noted a gap in GDX around 31.11 which was formed in early February. However thatgap was filled in early April when GDX was rallying to the 36 area. So just curious why that gap is still being mentioned as I thought once gaps were filled they were no longer that important
Demand zones take precedence over
Posted by junkie on 24th of May 2023 at 11:09 am
Demand zones take precedence over gaps, although gaps constitute demand zones themselves on smaller time frames.
yeah that's true, was filled.
Posted by matt on 24th of May 2023 at 11:09 am
yeah that's true, was filled. otherwise the gap isn't focus here and I removed that from the chart, the 61.8% Fib is what I'm focused on and rooting for price to get to, and if it loses that would be the uptrend line
other things I'm watching is the 2hr chart with the GDX/GLD ratio trendline, and any sort of intra day pattern that signals a possible reversal such as a wedge with pos div or a trendline break (on a 15, or 60 min chart