GDX
carefulcurrent summer trend has hit the primary trend. The Primary trend usually wins. May be good time to take some profits.
Bookmark This: Don't miss this Gold Trade. Targets acquired from multiple instrument technical analyses.
This trade is one you don't want to miss
Something ominous lurks Beyond.
X AMEX:GDXJ OANDA:XAUUSD AMEX:GLD AMEX:GLD AMEX:JNUG AMEX:GDX TVC:SPX TVC:DJI NASDAQ:QQQ AMEX:FNGU TVC:DXY
The Big Squeeze 2Time is nigh to choose a path. Which trend has more believers. Which trend will rule them all.
You have 1 week to decide. Otherwise you will be forced...
Newrange Gold Monthly breakout Newrange Gold Monthly breakout with highest monthly volume ever.
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GDX MNT: V-shape recovery / 70% upside BUY/HOLD(STOCKS)Why get subbed to to me on Tradingview?
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GDX MNT: V-shape recovery / 70% upside BUY/HOLD(STOCKS)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: GDX monthly chart review and outlook
::: chart looks strong right now
::: gold clearly in bull market now
::: miners benefiting from rise in prices
::: V-shape recovery in pgogress
::: 40% through already however
::: 70% upside remains from here
::: recommended strategy: BUY/HOLD at market
::: TP +70% gains
::: setup for patient traders only
::: do not expect fast/overnight gains now
::: good luck traders
🔸 Supply/Demand Zones
::: supply/demand: N/A
🔸 Other noteworthy technicals/fundies
::: TD9/Combo update: N/A
::: Sentiment short-term: BULLS
::: Sentiment outlook mid-term: BULLS
GDX Breaking Out. New target $42.$GDX with the breakout and successful retest of the $32 level, broke out of bull flag and is now taking out the May peak. My target is $42, which is the 161.8 extension from the Feb/March peak/trough #gold $GDXJ
So I was wrong about the wedge, but then this just happenedI warned my readers about a bearish ascending wedge which GDX just mashed through (I also had several overhead resistance points for stops and I was certainly stopped out), but then this morning five minutes into our session GDX just hit an overhead resistance going back 2014! What do you all think is going to happen next? Does the wave count bother you? Where do we go from here?
Gold; Ascending ChannelFirstly, please support our work by clicking like button or following! These really assist us to reach more investors & traders like you!
There has been a strong divergence between price action & the RSI. A breakout of the RSI triggered a bullish run that has taken gold
to new highs but still a far from the upper resistance line of the channel.
💛GDX shows bearish divergence - good idea to take some profit?GDX like gold is looking to break out to the moon, but is that party going to be put on hold for now?
Both Gold and the GDX are showing some bearish divergence (shown in chart), they are moving higher in price on lower momentum. In fact most indexes are showing this, not just the gold market.
We are going to need a lot of rocket fuel to get to $47 for GDX and $1900+ for gold, so I'd like to see more momentum not less/.
TSLA is up 36% in the last 5 days with many tech stocks up 10%+, if momentum runs out of steam for these tech stocks, it mqy impact on the entire market, resulting in one last shake out in the GDX before going higher.
I would not short here but it's a great time to take some profits, most of the ideas for the GDX is to buy, another signal to me that a shake out in July/August may be on the cards.
I'll be adding to the GDX for longs if we hit the $32-$28 area for sure.
GOLD, GDX and GDXJ - when will the Juniors break to the upside?GOLD has made a multi year basing pattern , commencing in 2013 and finally breaking out in mid 2019. The gold miners, GDX followed in April this year. Based on the market direction and momentum for GOLD and GDX we would expect that the gold juniors, GDXJ will follow shortly.
GDX Longcountries started the repatriation of gold from major reserves right before corona struck. I imagine this trend will only accelerate in light of corona and other trends. The Fed and other major reserves are going to want to make for those losses. gold miners are undervalued, we should expect GDX continue it's steady growth irrespective of any minor deviation from the trend.
Gold Miners: Be Careful, Ascending Wedge EmergingI'm only in this for a small play but I did not want today to happen. I'm still short GDX but from the dotted line you can see where I will exit the trade.
The Big SqueezeWe have 3 major trends that will collide next week.
Should get to 1800 next week, then bounce off the primary wave for a healthy correction. But you never know with gold these days. Its quite bullish. If it breaks out of the primary wave, it will go exponential.
Golden SummerGold's summer season is here and everything looks to be similar to 2011,2016, and 2019. Which means new highs all the way till September.
Miners are already starting to benefit. GDXJ might need to close the month lower, but then its 52 to ???
Gold - Buy/Sell pointsNow that Gold is breaking out, all focus goes to the 4hr chart.
I'm trading E-micro Gold futures ($/MGC), 2 contracts at a time.
Strategy is to hold 1/2 position all the way up to $1,880 target.
Day/Swing trade 1/2 position on the way up.
I'll update my markers where I buy and sell moving forward.
Links below show where I started building position.
Stay Black.
Will History Repeat Itself?Looks that way so far. (using log)
I copied the chart from 95 to 2011 and pasted it such that the bowls match up.
We might have 8000 gold by 2028.
AUY BreakoutI see a chance to go long here in AUY. I bought two days ago at the small arrow. I see it as a breakout today. I believe if you look at the mining sector everything is moving higher. Price is above the supporting moving averages and moving above the trend line. I also bought JNUG and added today.
GDXJ CorrectionThere is a correction on place. This is another scenario. GDXJ could fall minimum 42, and not lower than 38 range.
I´m comparing it to what happened last year.
