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Simply like the setup here, even though miners are mostly correlated with Gold, the other miners are showing additional selling pressure while CMCL is showing strength into a red miner tape day. This implies pickers are absorbing any selling pressure that may be due to GDX or GDXJ selling off.
IF you want to go to 2% risk, lower the stop to 14.0 or slightly below, with the same targets. This would reduce the Reward to Risk to 2.09 but overall the % gain would be 4.18% vs 3.25% for taking the more aggressive setup.
If we get tapped out of the trade at 1% we will be looking to get back in, and if we are in the 14’s with a bullish reversal we will increase our risk appetite to 2% anyways.
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