NEM Daily butterfly pattern and 40 fig combination.
Updated
Gold price has rallied from 1200 to 1320 within 2 months, while at the same time there were a little different story in the gold miners.
NEM showed the best relative strength to rally about 25% in the same time period ; GG was the lagger that only rose for less than 10%.
I also expect there might be a little bit catch-up play among the gold miners.
The North Korea news happened just now may lead to a gap for gold price on Monday, and probably so as these gold miners.
I WON'T turn bearish until I see any clear reversal sign, but if there is one, it might still be a good trading opportunity.
43 is the best SL as it's the gap, fig, and 1.618 extension, while if the reversal sign is strong enough,
I don't mind to use it as my out to make it easier getting my 1:1 1st kick.
NEM showed the best relative strength to rally about 25% in the same time period ; GG was the lagger that only rose for less than 10%.
I also expect there might be a little bit catch-up play among the gold miners.
The North Korea news happened just now may lead to a gap for gold price on Monday, and probably so as these gold miners.
I WON'T turn bearish until I see any clear reversal sign, but if there is one, it might still be a good trading opportunity.
43 is the best SL as it's the gap, fig, and 1.618 extension, while if the reversal sign is strong enough,
I don't mind to use it as my out to make it easier getting my 1:1 1st kick.
Note
this inside day is my cue, short the 39.00 breakdown, out above 40.00 and 1st kick @ 38.05Note
Got the 1st kick yo!
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