In this post from yesterday morning, the very first chart is GLD 1 min showing a high probability of GLD moving to the target range I've patiently been waiting for.
The post also covers GDX and DUST and gives the target areas in which I'd be interested in a short on GDX and a long in DST, here are the actual target ranges from
yesterday's post.
DUST target range below the yellow trend lines, we are moving in the right direction, but not quite there. Of course a position could be taken here, I just feel that in a market like this it's best to demand higher standards from the trades, better entries, less risk.
Here's the GDX target range set yesterday.
As for what's happening with miners today, the signals in DUST are confirmed by the signals in GDX (which are opposite), it's hard to see these signals and not consider going long here despite the target area not being hit. I think if I had to make a decision I would choose a partial position leaving enough room on the risk management side to add if the target zones are hit.
DUST 1 min very positive, yesterday it was negative, so 3C seems to be calling these intraday moves nearly perfectly here.
2 min is seeing migration of strength from the 1 min
The 3 min is in line and hasn't seen that migration of strength yet, but I suspect it will.
5 min remains in a leading positive position, apparently the distribution to cause the decline in DUST was not all that strong, just intraday as the move thus far has been.
The big picture, 60 min leading positive in DUST.
It's a tough call, don't let greed get in the way of solid analysis and patience, there are good signals thus far, we aren't exactly at the area we'd like to be at, if I was really serious about long DUST or short GDX I think I'd have to compromise and look at a partial position as mentioned above.
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