another recent gold short (see VGZ below) that has hit a target(s) and bounced back to the original entry point. HL is now re-testing the recently broken neckline of it's head and shoulders pattern and seems like an objective short here with a stop above today's highs, which only gives this trade a downside of about .10c. it may not work out as the momentum on the bounce in gold stocks is strong right now as they are coming off some extreme oversold reading but this trade does offer a very good risk to reward ratio (R/R). charts in order as [...]
VGZ hit T2 today for an 18.4% gain. take some profits and/or lower your stops. the lower targets still look likely at this time but just keep in mind that the snap-back rallies in the mining stocks can be powerful.
For optimal viewing, choose the "Watch on YouTube" option, then choose the HD quality and Large player settings the bottom right of the video window. MAY 30th UPDATE: PLEASE NOTE THAT SEVERAL OF THE TRADES ASSOCIATED WITH THIS VIDEO HAVE ALREADY BEEN COMPLETED AND ARE NOT LONGER ACTIVE TRADES. THEREFORE, IF YOU CAME HERE VIA CLICKING ON A SYMBOL IN THE ACTIVE TRADES CATEGORY, PLEASE GO TO THE RIGHT OF THE PAGE AND CHOOSE THAT PARTICULAR SYMBOL FROM THE "POSTS BY SYMBOL" DROP-DOWN BOX TO SEE IF ANY UPDATED POSTS HAVE BEEN MADE ON THAT TRADE. I EXPECT TO HAVE THIS [...]
here's the updated targets for the VGZ short. if you recall when i posted the charts of the 7 gold & silver stock as short ideas on april 5th, i mentioned that i didn't have time to add all the annotations on the charts, just the salient technical level(s), as i was pressed for time. for example, the original chart of VGZ (2nd below) showed this critical support line, which can also be viewed as a neckline to a head and shoulders pattern. regardless of whether it is/was a neckline of a H&S pattern or just a plain old support line, [...]