Miners
gdx miner cyclefor those who follow cycles, here is my chart of the gold miners cycle.
this chart forecasts that as of 1/12/2017 we are due for a miners cycle low in the second part of january 2017.
this cycle will give us hints as to the Trend of gold.
The current Daily cycle looks right translated (the high is in the second half of the cycle) and has gone higher than previous cycle (see arrows).
if the bottom of this upcoming gdx cycle closes Above the previous daily cycle low (see line labeled "Critical level" - we must find a cycle bottom Above that line), it will make a strong signal that the daily cycle Downtrend is Over and we are starting a new Daily cycle uptrend UP.
In plain language as long as we dont make a lower cycle low, it is a strong signal that gold is now in a long term uptrend!
so it looks like there maybe a good Short trade here for a few Days, and then once we bottom, a good Long trade if we dont break the low.
same cycle applies to GDXJ
CDE - 2hrMonstrous +13% day. Shallow wave (2) relative to other miners, assuming its complete. A pattern like the one I've outlined for wave 1 would add confidence. Retraces may be relatively short and shallow if this is, in fact, the start of wave (3). Note structure of wave (1) off the low last year.
As always, my notes aren't meant to indicate timing.
SA - 2hrI was early on Seabridge Gold. Should have stopped out but the swing position was small...may look to add to this position on a retrace.
SA dipped below ideal wave (2) support but has a solid impulsive looking move so far off the low. Need to see something like this 1-2 play out if wave (3) is indeed underway.
RIC - 4hRIC held above the 61.8% extension of presumed wave 4 of (3). Slightly different pattern than what I'm tracking on some other names, so the nature of this presumed impulsive move will be an indication if something else is operative. I plan to take swing trade profits above 15, or else stop out as the pattern dictates.
AKG - 2hrImpulsive looking bounce off support. I was early on this one, as I was on many other miners, but great R/R for a swing trade. Stop below 2.59 low, or trail behind higher lows if more sensitive to drawdowns.
Looks like a clear 5-waves up already, so may be due a consolidation soon. I'd like to see min 4.24 reached in wave (1) but I don't plan track the sub-hourly price pattern on individual names... The mid 9s should be reached in wave (3) of circle-3.
HMY - 2hrI've got 5-waves up. May already be in wave circle-iii. Wonderful potential here with a stop below the recent 1.87 low. A ~2.20 stop may get taken out IF wave circle-ii is operative, but would also be viable if 2.33 was the top of circle-I.
Green fib targets revised slightly lower from prior ideas due to lower C of (2).
VGZ - 144minI know I've posted ideas on some of the sub-$1 miners, warning that positions should be kept small until we get confirmation. So far, a good start to proving the correction is over in wave (2). The larger 1-2 will add confidence. Retraces may be small in a presumed wave (3), and I'm not sure about the timing as my analysis isn't a timing system. Just watching technical indicators and price pattern for clues.
Straight stock plays on juniors like this are safer plays than 3x leverage ETFs in my opinion. Long from ~0.87
SSRI - 4hrDoes this system work? You be the judge. Here's my typical targets and supports as yellow boxes.
White count is highly suspect unless 22.42 gets taken out strongly.
VGZ - 4hPosting this idea to explain what I'm doing with all my fib calculations.
And trying to convince TradingView to program the calculations as a selectable option in the Trend-Based Fib Extension tool.
The Fib Retracement calculation is quite similar. Its' the exponent of the difference in LN(price points) multiplied by the desired retrace % as I recall.