GDX - support zone
Updated
3/1/20. GDX 4 hour charts
I issued a warning on 2/23/20 of Risk v Reward. At the Friday low, GDX was down a bit more than 20% and NUGT was down a bit more than 50%. I FEEL for all those people who jumped in at the last leg and getting burned but that's how it usually out. Identifying Risk vs Reward and Resistance zone vs Support zone is important.
I issued a warning on 2/23/20 of Risk v Reward. At the Friday low, GDX was down a bit more than 20% and NUGT was down a bit more than 50%. I FEEL for all those people who jumped in at the last leg and getting burned but that's how it usually out. Identifying Risk vs Reward and Resistance zone vs Support zone is important.
Note
3/3/20. Within range. Picking up some DUSTNote
3/5/20. Caution is needed. GDX is arriving at the range of .618% - .786% retrace while gold is arriving at .786% retrace. It's not about going higher or not...it's about risk management. Note
Seems to be on 1st support areaNote
3/11/20. Risk vs Reward Assessment. GDX is arriving at Support zone. Identifying the zone rather than trying to hit that exact top or the bottom.
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