So these kind of trading vehicles, short time frame, etc... is where you need to use the EMA's and really short ones 4ema,5 ema, etc...the 10 ema must be like a 'long time frame' in a sense. and 20ema, must be like an eternity.
I was just examining the downwave plunge in Pretium (PVG) today after peaking the other day at 11.90. the topping zone I was watching out for was 11.50-12.00, so I sold some at 11.60 the other day, just a day "too early" but its ok. and now we see the volatile slam down today. I think PVG, with its volatility,has a good chance to get sold way down, and this might be just the beginning of a larger downwave . the big chart picture, is measuring the rally wave from a 'Bottom' at 7.75 to a peak at 11.75, and gives me the 50% Fib target at 9.75. But first comes the magnetic target zone around 11 dollars. which we get now. Resistance overhead at 11.50 area is waiting to Slam it down again. target zone 10.75 area, then big steps down from 11.00 to 10 dollars and see what it looks like there.
I like PVG as a miner to own and trade, but it was a big bullish rally from 7.75 to 11.90...and this rally came after a giant collapse from 12.40 to 7.75...a giant zig zag up and down. The fundamentals happening in that giant downwave was because of new mine construction costs,and dilution, etc... maybe this time it wont retest the 7.50/8.00 zone but I do at least expect a 50% retrace to target the 9.75 area. On the larger chart ,the 9 dollar point was a big balance point, so I include that as part of the target zone to buy. 9.00/9.25/9.50/9.75 area,even if it takes 2 or 3 months to get there.
The retrace could settle into a bottoming zone around 9.50-10.00
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