We have a valid breakout of the downtrend speed line resistance, confirmed by the huge volume and range of September 21st's daily advance, and validated further by the recent retest of the speed line, which now held as support. I'm long as per my previous publication and added to it on the dip here. Upside is considerable, at least aiming for 1420, to 1475. Stops should go below 1310, or lower. Give it a big enough margin of error.
Good luck,
Ivan Labrie.
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The move back down to support was a good chance for people who weren't in to join the trade. Stops should go under today's low, give it some wiggle room.
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If we get oversold here, we can buy a new daily high. Stop at the lowest low, until then, nothing to do.
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We flipped short last night. The bulls are losing control, we might see a sharp decline in silver and gold. Short miners (NEM is a good candidate, stops for all silver, gold, miners shorts: Friday 30th daily high)
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Covered shorts for now, 2.95% profit overall.
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I went long again at 1253.52, stop 1238.33
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The long doesn't look entirely safe.
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I'm short from here again, to 1205. Stop is 1258.95
Great charts & content IVAN!!! Thanks for all your hard work
IvanLabrie
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Thank you for the support Mia.
Cheers!
xiiimik
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The speedline on your chart, is it a trendline? How is it constructed?
IvanLabrie
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It's not a trendline. You can approximate to it, using the Gann fan 2/1 line, from bottom to top.
sulbas
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The bomp is knocking the door but uprising USDx is holding metals.
IvanLabrie
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Yes, but even then, they are holding better than most things (like many commodities, specially oil and copper).
JRFreeze
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Holding on tight
hnvel
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Where do you estimate the target
IvanLabrie
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No target, at least retest of the downtrend mode but first, retest of the Brexit key level next week: 1305. Above that it can hit 1330-1340 with ease. Above that, we're in bull market territory again.