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VanEck Gold Miners ETF

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GDX trade ideas

Canary Just Died. Time to Take the Money and Run!..Prices have rallied back to the bottom of the (b) wave triangle/pennant and are getting ready to trade down to complete the Zig – Zag Correction started from the August 2016 highs. The factors supporting this are a full Elliott Wave count (a, b, c). There is a Long, Angry Enveloping Dark Cloud Red Candle at the recent top. Price is also still trading below the 200 day moving average, thus the trend is still down. If you’ve traded this rally from the September bottom, now would be a good time to take profits. The blue c wave down should consist of five waves with a target around $10 established by the prior (a) wave. Though I listed this as a Short Idea, I don’t recommend anybody actually short this. The Fundamentals are such on the Gold Miners that they are a screaming steal, and anybody in their right mind should be accumulating them to hold for a long term rally potentially of tremendous size…
AMEX:GDXShort
by Cincinnatuus
7
$GDX $NUGT $JNUG Short play - Is this where you want to go long?I rarely post two charts in a day but this one seemed pretty good. Self explanatory chart, Classic support turned resistance. I also see divergence between the price of gold and the gold miners, with gold not moving at resistance and GDX pushing up. I think that signals GDX is over extended. I can update it later to put more detail if needed. Short/sell at the Red rectangle, cover at the green ones. Keep in mind this is 2016-2018, seems pretty solid. If you agree/disagree leave a comment. Update: Forgot to add there's a trendline we're hitting if you connect Jan 23 2018, July 10 2018, and now. That's lot of resistance signals in one place.
AMEX:GDXShort
by teckno05
15