Trade Idea - ABX (long)

This is more of a quick, maybe swing type trade, but GDX and GDXJ both look interesting as does ABX.

 Large volume like yesterday's (within an established down trend and with a long lower wick on the candle) is most often a short term reversal signal.

 Intraday on a 10 min chart you can see a bullish ascending triangle taking shape with correct volume, you always have to be aware of a shakeout in well formed continuation patterns like this.

 Both the intraday (60 min) close within range as well as the ATR have increased, I'm using a 60 min Trend Channel as a potential stop, I'd prefer on a closing basis considering the shakeout factor.

 The 15 min 3C chart is leading positive.

As is the 5 min. I think with the trend channel where it is as a stop on a closing basis, the risk / reward set up looks pretty good here. I'd probably use the Trend Channel as a trailing stop as well.