GDXJ trade ideas
4H Trend.Miners trend was held under upper channel line and looks bearish, although on lower volume today.
4H TrendWill the upper descending channel line hold miners from breaking out? Or will we be starting a new long trend?
Miners 4HIt appears junior miners could be making an attempt to break out of it's descending channel.
Precious Metals bouncingThey've taken a beating and I've been watching quietly.
Today is a swing on Fed day, and could lead to a new DC if not an IC.
Buying AG, NSRPF, and a handful of JNUG. Close stops, the metal markets are devious.
Commercial bank covering their shortFinally a buy opportunity that fit the fifth wave.
Trade at your own risk!
GDXJ last drop before the upsideCommercial bank need to get rid of theirs paper short before the market reverse.
Trade at your own risk!
GDXJ: Entering new trend timing band levelFriday 3rd to Monday 6th: GDXJ is entering into a a significant time zone where trend/momentum may alter from current.
My take: Alteration from ranging market to trending market.
Bias: Up.
GDXJ uptrend line brokenuptrend line break is confirmed. I will not short it but I exited all longs in miners. Time to step aside and wait for trend confirmation.
Same with GDX.
Next impulse wave coming GDXJVery boring and long-lasting corrective wave sequence seem to be completed.
GDXJ Looks Coiled for a Move Higher, But How Much HigherLooking at the bottom two longer-term trend lines (which have held numerous times) are now supporting current price action. The Slow Stochastic & MACD are swinging around and look like they could signal a solid BUY. Wait for the MACD cross and the Slow Stochastic to break above ~20. Targets are below & watch those previous resistance lines. When targeting, I prefer gap fills.
**TARGETS**
Target 1= 34.20
Target 2= 35.59
(Home-run Targets)
Target 3= 36.34
Target 4= 37.00
STOP=33.59
**RESISTANCE**
R1= 34.21
R2= 35.06
**Not a pro trader, do your own work**
GDXJ looks ready to surge after the last dropGDXJ looks pretty on a the daily right now.
Trade at your own risk!
BUY GDX, GDXJ, Gold- uptrend
- support level 35 (GDXJ) , 24 (GDX)
- weekly pivot
- Daily EMA 21
I'll wait for the FED meeting on Wednesday to buy
