Many traders have their eyes focused on spot gold breaking out. With gold miners near their lows, they are compelling trades. Two of the largest holdings within the gold mining ETF AMEX:GDX is NYSE:NEM and $GOLD.
YTD performance:
AMEX:GDX +5.6%
NYSE:NEM -16.7%
TVC:GOLD +0.29%
During gold bull markets, NYSE:NEM outperforms AMEX:GDX and TVC:GOLD ...
I've been trading for a couple years, but this is my first publish on TradingView. I'm experimenting with Elliot Waves, so here's my crack at it:
ABC corrective wave completed on Oct 31, and we began another impulse wave higher. As of 12/1, spot gold has closed a new all time high weekly and monthly candle which many momentum traders are eyeing. We are currently...