GDXJ trade ideas
Rolling Waves (up)The bear leg could have probably ended.
Confirmation should come next week if it begins to move up sharply as I think.
In short term (two weeks) back at 38$
And probably end of May back to 48$.
Again GDXJ is on major support and this last week was a tipical shaking move before a large one.
The sector is moving up, and up, but remenber always that corrects in a hard way, so trading is the best attitude to make money.
I am long.
Rolling waves (The naked and famous).
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Salud para todos.
Step risingFrom my analysis this are my targets for the comming month. Mid December more or less, is my stimated time to get them
GDXJ: fill the gar at that levels.
GDX: Same, could reach 35$-36$ (now at 25$)
And gold....back to somewhere close to 1.920$
Good times coming, and dangerous, as ususual.
Good Times Tomorrow, Hard Times (The Long Ryders)
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Too slowMove is not impulsive at all. But it will continue up.
I expect it could only fill the gap at 40$ and then "finito".
Time is mostly the same: second half of September.
Gold: about 1910$ (futures)
After this, another drop. and probably visit the previous lows, or could even go lower.
Slow Show (The National)
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GDXJ: Shilly-shally…GDXJ is still hesitant to finally complete wave ii in magenta and is turning downwards again. As it can, of course, use the whole magenta colored zone between $37.26 and $24.77 to finish the overarching downwards movement, we give the ETF some more time to get its work done. However, as soon as wave ii in magenta is through, GDXJ should veer to the north, crossing the resistance at $36.58 and heading for the next at $51.92 from there. A 40% chance remains, though, that GDXJ could break through the magenta colored zone and drop below the support at $19.52, thus triggering further descent.
The Death of the Shorts.New cycle up is here in the sector.
Major important bottom and miners will again move up for weeks.
Acording to what i expect also for gold.
A top will be around 45$ filling the gap there at the end of August, but could be extended in time to mid september also.
So don´t short or you´ll find your Death in Las Vegas, gamblers...
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GDXJ: Excellent!GDXJ is still acting squarely in accordance with our expectations and has advanced into the magenta zone between $37.26 and $24.77, where it should soon finish wave ii in magenta. Afterwards, GDXJ should turn upwards, crossing $36.58 and heading for the resistance at $51.92. There remains a 30% chance, though, that the ETF could fall through the magenta zone and below the support at $19.52, thus activating further descent.
GDXJ downside continuationThis will finish this leg down, and market continues to be weak. Also gold (of course).
So that is what is prudent to do and unless those targets are reached earlier than expected, I will take out my short prosition at that level and wont expect further downside for now.
If that happens, I still think that even if gold and miners move up again, the still could visit the 29 or lover in the near future.
But for me, the point is getting aout of shorts and buying long position at that time and level (end June with GDXJ AT 31,xx)
A collapse (more downside and faster) is also possible. So in case it doesn't happen, that is the most probable target for me to track: 31,XX $ end June.
Parabolic Setup on the Mining JuniorsThis is a very asymmetric trade setup with nearly blue skies to 100 if it can catch some momentum in the coming sessions.
We also have a nice little fractal that shows us the path upward, should we break 49.
I would not front-run this one and would wait for 50+ daily close before a serious entry. With this level of confirmation in pocket, I'll be taking a rather aggressive stance.
Its a clear magnet-move to 100 - if for no other reason than it being one of the only decent plays available.
=PigMagnet
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