The previous false breaks from GXY vs other stocks are all during different periods. This current break is almost synchronized amongst all the major miners. Also this time the ETF is also in a confirm break out and the shorts pretty much worked GXY right to the tip of the descending wedge. So considering all the above facts its good enough for me since i go long anyways.
But yeah a few more candles and more volume would make it more convincing. Some people choose to wait for the break to go above previous reaction high before entering.....thats around 1.15.....but vs a 95c entry thats a diff of roughly around 15%
Each to their own, everyone has different risk appetite
GXY Price at posting:
97.5¢ Sentiment: Buy Disclosure: Held
