GDXJ Possible Exit point

Jul 21, 2020

There is a channel working right now. i´m tented to exit and enter, except if gold moves so wild that the top line of the channel is crossed by the candels.

Jul 22, 2020

Trade active

I finally decided to place sell orders above 60.00

Jul 22, 2020

Trade closed: target reached

The way gold stock are doing, there is a top. I sold all my positions at 59.80 an enter shorts.

Jul 22, 2020

Trade closed: target reached

Gold is making new highs along the day and stocks don´t follow....top for the sector. Maybe a drop soon, don't know how deep. At least to the channel.

Jul 23, 2020

Note

I open short positions yesterday and more today. I will close then and the 54-56 levels. If gold falls fast (and it could) we could be there tomorrow.
If not, probably next Monday 26
Then...wait and see. Important support 54.

Jul 27, 2020

Note

This thing is crazy.... i still hold my short position, but i don't know if I´m doing right

Jul 27, 2020

Note

exit short positions. This can move higher and higher

Jul 28, 2020

Trade closed: stop reached

Gold could be close to an important top, but timing it is difficult. So I have no position now. It could go up to new highs or go correct. For me is a risky situation until i find a more "secure" point to either go short or long.
We are at the early stages of a multi year up trend. I think we are like 2004 when gold reached 430 $ or so, just above the 420 $ from 1.996 (almost 8 years later). This time is almost equal to the 2011 top from now. It doesn't mean that things have to follow the same path, but it helps. Let the market shows us the top. Too volatility now.

Jul 31, 2020

Note

This is wild...that's why i like it.
One of the most difficult things to do is to trade a clear sharp up leg, like the one in the precious metals from June. Simple because you just have to no nothing. This is simple for an investor, but difficult for a trader. Always looking the other way around when things are simple and clear most of the times. (Just a thought and a lesson to learn for me). This changes in every momnet, but if i had to bet, i would bet with the trend...up. Maybe 66-70$ next end of next week, and gold... 2.0XX $. With stop loss and so and so.....