The GLD (gold ETF) short swing trade has just hit the 2nd price target (T2), with the odds for a reaction elevated at this time (i.e.- active traders might opt to cover short & reverse to long to game a bounce… gold bug bulls could use this as a level to enter or add to longs with stops somewhat below). Previous & updated 60-minute charts below.
GLD 60m Oct 17th
GLD 60m Oct 20th
GLD 60m Oct 21st
Likewise & far from mere coincidence, the GDX (gold miners ETF) short trade has just hit the third price target (T3) for a quick 11% profit, where the odds for a tradable bounce are also favorable, before the next leg down. Previous & updated 60-minute minute charts.
GDX 60m Oct 17th
GDX 60m Oct 20th
GDX 60m Oct 21st