Buy the next dip bull flag breakoutWe didn’t get as big of a pullback on Gold as I was hoping for, but Silver is overbought on daily, 4hr, 1hr, Gold has more room than Silver.
GDX trade ideas
GDX : HEDGE FOR MARKET UNCERTAINTIESGDX is a fund that invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the gold mining industry. Miners have lagged actual Gold prices (XAUUSD) potentially due to operational risks affected by COVID19. The chart now looks set-up for a move higher to catch up with gold spot price as it breaks out from consolidation.
In times of an extended market and uncertainties, it's never a bad idea to hedge positions with exposure in gold to be well-prepared when the market turns.
GDX showing bullish pattern above 34 might target 37GDX showing bullish pattern above 34 might target 37 . GDX showing bearish wedge bullish pattern.. A break 34 above confirm completion of wedge and target is 37 and stop loss is around 33..
GDX at the trendlineNeeds to break out to support a short term trend change. Otherwise, more selling can come.
GDX - IMPENDING DOOM!!We can see from this chart that price is ready to drop!
It has hit a key level of support and bounced off, it has tested this area several times before going higher each time.
The last time this level was broken it was a freefall to the bottom.. The next time the drop may be even greater!!
Get the sell stops in!
The $GDX (Gold Miners ETF) is Found Strong SupportWeekly Chart :
A very Clumsy Bullish Trend has started in 01/2016, and have been confirmed officially on the Penetration of the MDT (Major Down Trend) in 01/2019.
Note the Retest of Both Major Down Trendline and Major Up Trendline which occured on 03/2020 (covid-19 Drop) - Looking Positive.
Daily Chart :
31.3 Broke up with a gap and turn from Resistance level to a Support level.
Backed up with Rise in Gold Price, i'm Looking for a Penetration of the last Minnor Down Trendline.
The Take Profit objective is 40.25
GDX - Giddy Up!Miners appear to have tested an important support level in this flag pattern. Waiting for that break! It's coming!
GDX short term longAgain this pattern showed up. B/O and then back off the trend line but supported this time by the horizontal line. If not breaking down below, should have another wave up to 35.5 ish.
Good R/R imo.
I'm Bullish On Gold Mining StocksIt's an extremely simple chart, but It does imply a pretty good RRR trading opportunity.
These prices were last seen in 2013, so this is quite a significant break of resistance.
GDX Showing strengthWatch for move above box to go long. Price falls below box not trade.
Targets are dotted lines above box.
GDX failed b/o this morningSold all weekly ones but still have 40% monthly on the table. May add here in a next one or two hours.
IS GDX showing showing top .. sell target 31 to 32 stop loss 35IS GDX showing showing top .. sell target 31 to 32 stop loss 35... I can clearly see a top... May be time ripe for major fall.. I would love to be wrong.. hence strict stop loss ..But charts indicating first target of 32...
Please plan to keep 1% stop loss to save you against any surprises..
$GDX Gold Miners Bull Flag
Caution entering the market
50ma strong support
bull flag break imminent
MACD reversal
Histogram Ticking higher
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GDX - nice break out6/10/20
1 hour chart
Nice break out - Proving everything is on track, I will be looking to close around $41
A little rebound for the Gold Miners perhaps?Long term I'm definitely a gold bug but I have warned repeatedly about near term risk (which I don't think has completely resolved if I'm honest). The market is euphoric but channels are now becoming apparent and lines are being drawn. It's very possible we have a small bounce in miners with the upper channel limits identified as well as some other possible diagonal resistances. Be careful, but a strong opening Monday could mean a quick trade for some easy money can be made.
BUY GDX at $30-31GDX is in correction following H&S pattern. Support is around $31. Expect a fake breakout to the downside. Wait for RSI to reach new lows and MACD indicator to cross to enter new positions.
