GDXJ trade ideas
SELL GDXJ 2 target zone with gold going down in the short time and the miners don`n follow the gold chart i think that gdxj will fall further.
Long GDXJ: Target Price $100 from $31Current high stocks valuations and asset bubble (real state, credit...) will catapult gold miner stocks (after almost 40 years of zero price return) to new structural bull market. First step $100 for GDXJ is coming soon.
Junior Gold Miners (GDXJ) will go up to $100 Junior Gold Miners are beginning 3 wave to $100 (before summer 2018)
If XAUUSD continues up, GDXJ to $34 then ShortCompare this up movement to March. The first reversal in gold has the most impact on miners. Miners shoot up and then the first sign of weakness, they drop. Miners don't even touch the edge of the triangle until the second leg up.
Miners will be sideways/sliding down until one last drop, then i think the rocket is ready for launch
TREND SIGNAL = LONG, MAY 10 @ $30.95 ($GDXJ $JNUG $GLD $NUGT)May 15: Miners continue their run up from the early May lows. Today opened at the 50 MA and turned down hard. But the bulls stepped back in to end the day nicely above the 5 MA. From here it needs it needs break through the 50 MA to head towards a couple gap fills above. On the downside it would be rather bearish to see this break todays low. One could possibly try an entry here with today's low as a stop loss point.
Inverse Head and Shoulders on GDXJJust like in March. History repeating itself while gold gets ready for another push up.
In JDST for now, switching to JNUG if this plays out.
gdx, gdxj gold miners rebound till augustminers and gold made quite massive moves down.
after breaking the assumed trend line from the december lows we must find a different pattern to explain the recent moves.
my best explanation now is that we are about to complete an abc correction(now-august) before the last leg down(aug-dec).
this would also coincide with the seasonality in gold---up from now till august, then down till december...
Possible Gartley formation in GDXJWatching a possible Gartley formation with completion at 30.72. PTs and SL are in the chart.
Strangle on GDXJ for a 61% probability tradeIt looks like Sellers are starting to come in, and I don't think buyers will give up that easily, so I expect some 2 way action in the next 30 days. With a decent IV Rank of 39 I want to sell some premium to add to my theta numbers.
The trade:
Sold the 32/37 Strangle for $1.83 per contract
61% probability of profit
Will look to close it at 50% of the premium received to improve our probabilities.
Junior Gold Miners correlation with CADUSDHi,
The Junior Gold Miners Index (and the funds tracking it - GDXJ, JNUG) consists in 70% of Canadian Miners. Therefore, it is strongly correlated to the CADUSD.
Thanks
