GDX close to Overbought

[Pascal]

As GDX approaches the Overbought level, it is interesting to note that the price surge in gold has attracted large sellers.

As of now, I will increase the GDX long position on pull-backs.

You will also note that the drop is USD has attracted buyers. Hence, Gold/USD are once again inversely linked.


Pascal

18617

18618

18619

[Pascal]

If the GDX MF of the previous day close is higher than +1.25
and if the opening price is higher than the price of the previous close
and if at 9:50:00 the difference in MF between the Open and the current MF is negative then:

SHORT a full daytrading position for an average gain of 1.18%, with a success rate of 83%

This means that when overbought, there is a statistical advantage in shorting an opening gap-up if such gap-up attracts selling by 9:50. The success rate of such a trade is only 83%.

If such conditions are met, a message will be displayed at 9:50:00


Pascal