Gold Short
Updated
Short term Setup due to high Optix reading (GDXJ) and entering a resistance zone
Optix is above 80: Over the past four months, readings above 60 have led to almost immediate selling pressure. As always, if the stocks can continue to rally (GDXJ) in the face of short-term excessive optimism, then it suggests heavy demand and that usually means higher medium-term prices as well.
Daily ATR%: USD13,20 (1year avrg.); USD11,20 (5days avrg.)
Optix is above 80: Over the past four months, readings above 60 have led to almost immediate selling pressure. As always, if the stocks can continue to rally (GDXJ) in the face of short-term excessive optimism, then it suggests heavy demand and that usually means higher medium-term prices as well.
Daily ATR%: USD13,20 (1year avrg.); USD11,20 (5days avrg.)
Trade active
SL set to +1 (1160)Note
Trade closed manually
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.