GREY:GPLDF - Post by User
Comment by
ganndolphon Nov 04, 2019 11:27pm
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Post# 30308404
RE:RE:RE:RE:RE:cc Q3 2019
RE:RE:RE:RE:RE:cc Q3 2019Eap5522,
GPL came off the 53.5 cent low in November 2018, then ran up to a high of $1.19 USD in March,
then did a 54 cent retrace to 65 cents, forming the AB leg of an ABC leg down.
The retrace of the move down was a 61.8 percent rfetrace to 98 cents. Subtract 54 cents from 98 cents and the target for a 1:1 move down is 44 cents. That would set up a butterfly buy pattern at 44 cents.
Since we had three black crows on the daily candlesticks, we may get a bullish reversal on the daily chart tomorrow. I expect the price of gold to close this month at $1650 USD so I think we get a V bottom in GPL.
So therefore I have been buying all the way down and increasing my long positiion happy to get 60 cents per share on my buys, and even happier to buy at 50 cents today.