Short Newmont Mining $NEM

1. Trend is down over year and half

2. TTM Squeeze that usually bounces off opposite wall before reversing

3. Hitting resistance trendline repeatedly

4. Under 200ema

I could see this ultimately hitting 200ema, which I would dump everything into going short, but this spot is good for a short as well. Always keep more dry powder and don't blow your load in one go!

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Gold/SPX ratio shows gold is touching the top of the trend - which means if it goes lower compared to S&P - there will be a sizable move

twitter.com/badchart.../1592996265859887104

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Monthly TTM Squeeze is breaking out. Monthly PA bounced off the opposite wall, and now it's retracing its breakdown before descending much further. Beware!

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Weekly shows TTM Squeeze is building so that may delay the move a week or two. And it's common for PA to bounce off the opposite side of the trend which lasts around 4 bars, so we could have around 5-6 weeks before we see the final descent. This means we will see some news hit the dollar hard, letting gold rocket up a little before reversing hard on some extraneous news.

So 5-6 weeks might be the perfect time to start building a short position if you're averaging in.

Look to an event to happen in January to key off this move.