GDXJ Breakout

Great breakout here on GDXJ as investors fly to security with geopolitical instability.

We have a breakout of several different levels, making this a potentially very powerful break.

SIGNALS:
1. Breaking out of consolidation pattern since beginning of May
2. Breaking downtrend line from 2016 highs
3. Breaking over 200 day moving average

Entry: above 34
Target: former resistance around 42
Stop: under breakout level, 33.50 - 34.00

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!! PM me with any questions about my analysis !!

MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.