Long

GDX Long Idea

Updated

Well here we go again. GDX is at the lower side of the trading box. A buy here with a stop directly below should produce a good risk reward trade. It won't be a straight line higher, but could reach the top of the box eventually.

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The chart for DUST (inverse miners) would indicate that a drop is in order. A drop in DUST would be positive for GDX and NUGT. Just have to watch that there is no breakout higher.

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DUST looks to be forming a Gartley Harmonic Pattern. This would also be positive for miners.

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Another H&S pattern playing out on a shorter time frame. Gold may dip here before a bigger run higher.

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Alternate bull flag forming for a move higher.

Trade closed manually

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Im still holding this one. The H&S still intact.

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US Dollar pushing higher. Looking at the hourly chart, trend line break and higher highs. Looks like the H&S pattern is failing, and a bull flag AB=CD pattern may emerge.

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Getting there..........

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I think we roll over and go lower from here.

bhowe

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