The “Box Trade” Mining Stocks | Vinny's Blog – The Closing Print
“An investment in knowledge pays the best interest.”
– Benjamin Franklin
When it comes to investing, nothing will pay off more than educating yourself. Do the necessary research, study and analysis before making any investment decisions.
Tonight’s video covers how defining an edge for new traders can improve your performance. We go into greater detail on what to look for using this technique. Link: http://youtu.be/Q4boIyyRkeM
Gold mining stocks have recently changed trend, setting up a “box trade” on many of these candidates. The Gold chart (Spot Price EOD) is below. A change of trend can clearly been seen. Note the low in late May early June as well as a larger cup being built.Barrick Gold (ABX) exhibiting the same look as many other stocks in the sector.
Agnico Mining (AEM) like many of the other candidates in this group have seen price appreciation and volatility expansion that warrant waiting for “the setup”. Prices need to pullback into the zone between the 10ema and 30ma. My video explaining the “box trade setup” can be viewed as well which explains the thought process.
Franco Nevada (FNV) is several days away from a good “box trade” setup.Gold Fields (GFI) appears to be ready to flag here.Goldcorp (GG) volatility needs to come in a bit, but the trend has definitely changed of late.Randgold (GOLD) accelerated out of its base and needs to pullback in a bit to set up a box trade, with either a pullback into the zone between the MAs or the 10ema as has been the case since it broke out.
Happy Trading – CV
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Disclaimer
This writing is the authors “daily journal” and should be viewed for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction, or as an offer to provide advisory or other services by the writer in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this writing should not be construed as financial or investment advice on any subject matter. Cousin_Vinny expressly disclaims all liability in respect to actions taken based on any or all of the information on this writing. Always check earnings dates and set stops before entering any trade.
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The “Box Trade” Mining Stocks | Vinny's Blog – The Closing Print
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