You can use the ‘locked’ reverse pattern shown to evaluate the trend and find tradeable opportunities. It has triggered two winning ‘mechanical’ shorts already, but I doubt that a third blip up to the green line would deliver. That implies GDXJ will surpass C=44.70 if it exceeds the green line; or alternatively, fall to at least p2=38.00 if it takes out the red line first. Even If sellers win this round, it will still be possible to bottom-fish at either p2 of D=35.77, so stay tuned.
GDXJ – Junior Gold Miner ETF (Last:40.73)