GDX / NUGT Follow Up

This was the most difficult choice as far as asset management by far, especially considering how good these look (big picture) and how close they are to a stage 2 breakout, but my analysis and decision wasn't based only on GDX / NUGT, it was based on the shorter term SLV and GLD charts as well.

A big part of the decision was not only preserving profits, but not to let these hard won profits disappear in to a pullback that I'd almost certainly buy when the gains can be taken now and the pullback can be bought again with the only exception being gains of 40 and nearly 50% are preserved.

 This cluster of candles tells us nothing, but there is a clear range if viewed on an intraday chart, it's about the right size and place for a reversal process and the gaps below look like they'd likely be filled before a breakout to stage 2 mark-up.

 The deterioration in GDX intraday today looks like it's getting ready to come down early next week.

We see similar signals on the 2 min which are confirmed by DUST.

And of course this 5 min has to be taken seriously.

The longer term 15 min is right in line with a reversal process and confirmed by DUST, even though I would not take the risk of trading DUST long here.

And the 30 min now looks like a divegrence at least the size of the positive at the far right shoulder that sent GDX up, there is a much larger positive in GDX, we are only looking at the right shoulder of an inverse H&S bottom.

The 60 min is in line which is what I'd expect to see for a pullback move that is constructive so i'll be setting alerts looking for the next entry in NUGT long and really hoping this was the right call.