Sloppy falling wedge and pennant for GDXStill looking bullish for GDX. RSI back above 50, 30/100 MA moving toward crossover... may be a bit early to buy aggressively but the breakout (up) looks to be before EOY.
GDX trade ideas
GDX - Strong Buy - Crossing 10WeekMAGDX buy signal on Daily.
About to cross 10WeekMA for strong bullish continuation. Anytime 10Week is crossed we see bullish confirmation (weeks).
Trend turned bullish on Filter Dots.
Gaps to fill above in the $30's imply over 30% gains from current price. Not sure if we get this high, but bullish trend just starting today/tomorrow.
SPY looking to go down soon. VIXY looking to go up.
Only makes sense that GDX becomes risk on (as confirmed by the moving average proximity to current price).
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
GDX - It's time!GDX has been consolidating for almost three months now and has held FIB support. Feels like the turn is coming. Be patient the market will soon make a leg down and gold will start to rise again. Miners are best place to be!
GDX - Upside breakout coming?It looks that way to me. RSI up trend just about exhausted and MACD has been indecisive for a while. 26 or so seems to be the line in the sand. I remember when it broke out this summer and took out 25.71 which was the prior peak that started the sideways action that lasted for 15 mos. Just seems like the selling is drying up but that may just be wishful thinking. We are close here.
$GDX Gold Miners in bull flag, testing rising channel support. Price should move up from these levels as rising channel support holds and price breaks out of bull flag.
GDX Bullish ScenarioMetals seem to be pushing higher without giving us that one more low. No point in arguing with thre market. If it continues, this is the AMEX:GDX path I see.
GDX - Watching for ReversalSmall position here for me.
Watching for pattern turn right around Christmas.
SPY / SPX pullback during the same period should indicate risk-on for GDX with bullish trend.
Options are cheap and so is stock. Small position size until we see bullish confirmation helps to reduce risk.
I suggest using stop losses. I do not personally because I feel they telegraph my orders to the algo's.
I play the chart, pattern, world events, price, and sentiment. I also use Price Alerts HEAVILY instead of stop losses.
Holla if anyone wants an update for GDX and I will do my best.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY
GDX Ready for Drop into Long ZoneAMEX:GDX
GDX appears to be completing a corrective micro degree triangle. If correct, this would suggest it is soon ready to make its final drop into the target zone. This is a risky play as we are nearing a longer-term bottom, and trying to play down should be treated as a risky move with tight stops in place.
GDX Nearing Buy InAMEX:GDX
GDX is nearing a larger degree wave 4 at the 0.5 retrace of the last move up. This zone also lines up beautifully with multiple levels of strong support. Should it fall a bit further, it will be primed for a large move to the upside. If/when that happens, will be playing NUGT or possibly switching over to GDXJ and JNUG. Due to the lack of a good place to set a micro stop, the entry will have to wait for an initial bounce and retrace. AMEX:GDX
GDX - Bullish Wedge PatternGDX saw a rise in price from June breakout until its top in September. Since that September top, the stock has formed a bullish wedge pattern where it is currently bouncing off the support line. There is also a slight bullish divergence between the price & the RSI indicator.
Just waiting for the bullish breakout to occur to activate a potential price target. Any breakdown would negate the formation.
GDX bounceminers outperforming gold and looking much better technically. If gold recovers I believe miners can have a big move up. I think we can make it to my .7 retracement level without gold making a major breakout, sustaining above this level requires gold to get above 1520 and continue higher.
Currently playing this with JNUG as junior are lagging. Long since yesterday's doji candle.
Looking to drop a little more before we get a nice bounceLittle more of a drop coming then this pennant could take off. Would be great timing to see the S&P sell off soon and flood GDX. Looking for a short short on GDX and then collect on it to short SPY.
GDX scenariosexpecting a pullback and more consolidation as speculators chase the new highs in the US stock market
Patron de triangulo simetricoThe graph shows a symmetrical triangle pattern with a downward trend, where the break point is detailed and the touch points are indicated with arrows.
GDX - Ready to pop with BTC , while SPY fallsGDX, SPY, and VIXY all tell similar story.
Things are topped out. Gold, Bitcoin, and shorting SPY will be the best (if not the only) options for alpha in the upcoming market.
If you are long SPY or any equities, be careful chasing that last 10% because a 20%+ drop is below you.
Long - GDX, MARA, VIXY, BTCUSD, GBTC.
