GDXJ trade ideas
GDXJ - 61.8% pullbackWe almost had a 61.8% pullback in GDXJ after turning down from the 200 MA.
If we are are in an uptrend price should turn after a 61.8% pullback. It's still healthy.
The Slow Stochastic tagged the oversold levels and ready to turn higher to the overbought territory.
RSI is also leaving the oversold levels.
The other sign I like very much is the 3x ETF, JNUG's volume.
It looks like someone was positioning heavily in Friday's bounce.
GDXJ Synthetic StraddleJunior Minors have been beat up a bit lately, looking for some sideways action for a bit.
Trade Setup:
-1 GDXJ 29/37/37/45 Iron Fly (Synthetic Straddle) @ $4.34
DTE: 51
Max Win: $434
Max Loss: $366
Break evens: 32.68 & 41.34
Trade Management: 25% or ~$108 on the trade for profit management. I will look to take this as a full loser if we get some whipsaw, but I can always roll the ITM or tested side to reduce the loss near expiration.
Green zone is profit; Vertical black bar is expiration.
trend channel will be broke soonhello guys there is gdxj. it's in a trend channel in 15 mins charts. watch for the breakout soon and then it will be easy to trade whit jnug or jdst a very strong price move in a really short time
Deja vu, this is familiar.Black chart is XAUUSD -Notice the two green boxes. It is my assertion that this is a trend change in the miners. Wait for the bounce and load up short.
GDXJIn short term, it is good opportunity to buy GDXJ. According to Elliott Wave Theory, wave number 1 of impulse C is almost finished, now it is time for corrective wave number 2.
GDXJ daily BB bottomToday GDXJ has closed just above the bottom of the Bollinger Band, unlike yesterday. Really need to grab the midline soon to continue the up trend (December reversal). GDXJ still forming higher lows, although JNUG is not.
Also note the support trend lines that intersected yesterday at the closing price. Today GDXJ found support on both of these lines (blue), as well as the 50DMA (green), and the bottom of the BB. Would be nice to see some buying volume very soon.
50DMA looks to be crossing up the 100DMA this week, and March could see a cross up of 50DMA and 100DMA with the 200DMA. We need the GDXJ picture to improve a lot, and soon, for the mining products to break out. Hopefully the epic 2/27/17 breakdown was a setup for this.
GDX/GDXJ - Gap closeWe have a long opportunity evolving in gold miners.
As gold broke out gold miners are a bit late in the rally.
This is a good opportunity for all those who get left behind at today's gold breakout.
Both GDX nad GDXJ has closed the gaps after the open.
More details in PI.
Things to consider about GDXJ (or JNUG/JDST)Just a quick opinion on GDXJ for now, its been running great along with the gold bull, on my chart, it breaks the previous RSI down trend and it still remains in a uptrending price channel. If you are not in miners right now, i'd suggest to hold on, and If you are in miners from a fairly low price, i'd suggest to profit out some unless the top wedge breaks and RSI shoot up higher without creating rsi bear div.
miners on 4H chart present really well on gap closing, if i wanna jump in, i'd wait until the tiny gap (red arrow) close
Cheers
