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Abxbarrickgoldcorp

Short of ABX Barrick Gold #ABXA clear setup; with the long-term chart (M) month. in downtrend. The Current-chart (W) Week is also in downtrend. the (W) is in clear move up, lots of buying to support this momentary fake uptrend. How do I know it is fake. Well one never knows anything as a disclaimer for any trading position; we stack up odd Enhancers in our favour. So, why did I take the SHRT at $26 while price was rallying (fake rally); the red line on the right hand (W) chart. the price met a Supply Zone, and this SZ happens to be Lower High of the (W) downtrend. a technical downtrend is marked by a series of Lower Lows and Lower High(LH), as long as the LH are not violated the downtrend continue. Once a price rally into a Lower High Supply zone, am looking for a tight SHORT entry, with a low-er risk STP loss just above the SZ & plenty of room below for the price to fall into & thats exactly what happened here. remembering the long-term is in my favour. thats a great off enhancer. I Shorted at 26.xx and price fell into my Profit-Target 1, where I closed 2/3 of the position at $5 profit per share. and I moved my STP loss down; today, with price opening well above my last STP Loss, after a weak end of speculation on fallout of banks, the Gold price goes up and so does ABX, no surprise here
TSX:ABXShort
by greatful-me
Bearish market is changing the rulesIt seems like all trading rules are out of control in this bearish market. One of the Greatest investors of all time Warren Buffett said "be greedy when others are fearful; and be fearful when others are Greedy" this rings true in the mind. However Buffer was an investor & not a traders. the rules differ or both games. THIS IS ONE OF MY BEST & MOST PROFITABLE trades. short term (W) is in correction while longterm (M) still technically in uptrend. price comes into the DZ which is the HL (Higher Low) of the longterm (M) chart. provide low risk entry & high profit. It seems in this market nothing hold true. As the price broke through the DZ. I followed my rules and took the Loss. If there is a lesson to carry. the DZ was tested (in the dark square) this basically weakens the DZ. One of my first trading teacher compared a DZ to a door. the more you knock on the door the more likely it will break down. This DZ door has been knocked before. it broke & the door opened. A better trade enhancer would of been a fresh untested DZ
TSX:ABXLong
by greatful-me
ABX Surged to Topside of the Trend, Potential ReversalBarrick Gold Corporation surged in the last two week as gold rises amid a global stock market correction. Where the stock price high rocketed to see gains as high as 26%. Now price is trading at key resistance of the bearish channel. Look closely to the performance of gold for the direction of price. Trade Step-ups: Bearish Reversal: Price rejects a breakout from current trend. Profit levels to look for are 10.50 and 9.50. Bullish Breakout: Price breaks from current trend channel, look for consolidation above 13.00.
AShort
by EmpowerTrader
ABX looking for Gold!Back in December I bought my first shares of a gold mining company, ABX. For much of 2017, it was on a deep downward trend but being one of the largest mining companies in the world and the shares were cheap, I thought what the hell, let's see if she has any life left in her for the long term. Since the beginning of the year it appears to me that ABX has now shifted into a slight upward trend forming a channel with slightly higher highs and slightly higher lows. Will be watching the economy and news for awhile to see how this one plays out. I haven't seen much on TradingView about ABX so I thought I would share. As always, being new I look forward to soaking up any advice and comments I can get. Happy trading!
ALong
by MCassICT