HUI trade ideas
HUI: Best chance since 2000 or 2008 to go long? [Update II]Price Action: Yesterday HUI had a STRONG pullback from Fibo RL 61.8% (and new violet resistance line) at !
Risk Mgmt: Raised Stop Loss to entry level to eliminate loss.
Correlation: Added Gold Trust for comparison: While GLD has like HUI broken above steep declining resistance line, it NEEDS to jump back above 9y support line as well, watch this closely...
HUI: Best chance since 2000 or 2008 to go long? [Update]The expected breakout from the falling wedge has finally happened!
DMI turning around nicely...
Added two new support lines.
HUI: Best chance since 2000 or 2008 to go long?DMI has not yet given a buy signal, but the same pattern like back in end of 2000 and end of 2008 establishes IMO.
Fibo timeline is experimental (1 and 2 are tops, 3 is middle, 5 and - ideally - 8 are bottoms in the pitchfan).
