GDX (Gold Miners ETF) offers an objective long entry on this 60-min TL breakout & backtest as well as the most recent divergent low & will be added as an Active Long Swing Trade around current levels.
GDX 60-min July 25th
The price targets are T1 at 21.98 & T2 at 22.27 with the possibility of one or more additional targets to be added, depending on how the charts of both gold & GDX develop going forward. The suggested stop is a daily close below 21.35 with a suggested beta-adjusted position size of 0.80.
NUGT 60-min July 25th
Here’s a 60-minute chart of NUGT (above) with some target for those that prefer to use the 3x leveraged gold miners ETF as well as a 60-minute chart of GLD (below), which has gapped up to just on or slightly above its comparable 60-minute downtrend line, also with bullish divergences in place at the most recent low.
GLD 60-min July 25th