GDXJ trade ideas
After years, could there be a bulltrend?I have a possible pathway for the Junior Gold Miners, which could turn bullish together with gold of-course and other precious metals. I think if it eventually goes the uptrend, it will hopefully do it continuously like the downtrend...
$GDXJ Preparing for lift offTriangle is getting ready to be resolved to the upside. Can zoom to 50 in quickly as $GLD perks up.
GDXJ volatility the volatility of Gold never been that low, something might be happen, maybe going up
GDXGDX has been in a bear market with Gold for some time. The chart is still in a range bound chop, but a minor trend line has been cleared. Next up is to attempt the next higher trend line, then finally take out the long term down trend line.
GDXJ Bullish CypherBullish Cypher Measurements
- .382XA
- 1.414AB
- 1.618BC
- .786XC
- We are also seeing bullish divergence on the volume weighted MACD.
*Bought May 32 Calls for $2.00*
Long GDXJ (JNUG) until 1.618 fib extension of past bull wave85.3Dollar crashing, Trump risk, more-so US debt may be downgraded + crypto failing expectations.
GDXJ cup and handle breakoutGDXJ measured move to $38-$40 range. Everyone is expecting miners to fall. It is the dollar that is in trouble.
Miners face rejection or explosionThe general trend line would indicate that a reversal is imminent, especially given the bullish sentiment of the market and the unusually high price of gold. That being said, geopolitical unrest or White House BS could send it higher - though it would have to be significant.
AMEX:GDXJ AMEX:JNUG AMEX:NUGT AMEX:JDST AMEX:DUST
4h TrendShort signal at todays open. Tomorrow could fill this mornings gap before heading lower. ($JNUG,$GDX,$NUGT)
4h TrendTrend signal is still long from $31.90. Bull flagging here.Will watch for short signal below $33.90.
GDXJ - Gold and miners not ready just yetGDXJ - everybody long end of December. Me I just like to watch the world burn in capitulation.
Don't use 3x ETFsA lot of newer investors are tempted to buy 3x ETFs like NUGT and JNUG, when things get bullish. Especially when newsletter writers make it sound very bullish and a sure thing. I did in the past, I paid my tuition.
Let's take a look at a very bullish run, last year's GDXJ chart. The chart shows some of the dips along the way.
Can you handle -20%, -30%, -50% dips along the way? Add onto that the uncertainty of where the move will go. And when you open yourself up to a 30% decline, you've thrown risk management out of the window, and are vulnerable to panic selling.
With the benefit of hindsight, we see a 200% move in GDXJ resulted in a 1300% move in JNUG. Few, if any, probably rode it with any success.
My strategy will be to accumulate good miners over the next couple weeks. Some of my purchases last week have done well, and I'm holding. Some, like NSRPF, I had to take profits early due to a sharp move.
