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VANECK ETF TR VANECK GOLD MINERS ETF

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GDX trade ideas

GDX - Update - Current PatternI AM NOT ACTIVE IN THIS POSITION. WAITING ON ENTRY. GDX failed to breakout yesterday. Most likely tied to continued Fed Repo liquidity keeping SPY artificially inflated (see SPX chart link below for news). Current Daily pattern shown in last chart was extended. Weekly view shown on this chart best shows pattern. Still in a bull flag formation. Pattern ends around end of February. RSI trend breakout failure shows trend is going down. Next Weekly and Daily trends and both bullish flip. Once this occurs we are in good position with both Daily and Weekly to confirm bullish entry. I will watch the pattern and update if anything occurs by pattern end. If anyone would like an update, let me know via chat. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long BTCUSD, GBTC
AMEX:GDX
by MoneyPatterns
GDX - Bull Flag on Weekly - Waiting for Bullish Trend to ConfirmI will update once the trend on Weekly turns bullish on GDX to confirm entry. Not entered GDX is bullish in pattern formation currently. We are at the end of the bull flag pattern. Ready for next leg up. Price recently crossed 10WeekMA which confirms bullish trend. RSI trend has also consolidated similar to price pattern. Longer Weekly RSI trend (yellow) is bullish. Intermediate term trend (white wedge) is bullish breakout pattern. I am waiting for Weekly trend to confirm bullish trend for entry. Market is too fickle for early entry. I will update once I see the Weekly trend turn. If anyone wants me to take a look in between chart updates, contact via PM. No problem. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long BTCUSD, GBTC
AMEX:GDX
by MoneyPatterns
2
ridethepig | Gold Miners Breaking Out!After months of choppy waters, finally bulls are emerging from beneath the woodwork right on time to position for 2020 flows. For all those tracking the current leg in Gold by now it should be crystal clear: Those momentum traders will know the highs will be eclipsed over the next few sessions, generally prefer buying dips. What I am most impressed by is the opportunity found with my long candidate for mining companies in 2020: For those tracking the end of year positioning flows for 2020 Q1, sit tight reflationary risks are around the corner. Thanks for keeping the support coming with likes, comments, charts and etc. And as usual the comments are open for all.
AMEX:GDXLong
by ridethepig
2
GDX - Bull Flag Breakout - Weekly Bullish Trend FlipOn Weekly chart shown, GDX formed a bull flag and is ready for breakout. Price went outside wedge and retested 10WeekMA/outer wedge of triangle - looking good. Buy signal on today's Daily candle. Weekly candle still on buy signal at end of long bearish trend. Weekly rend shows next flip is Bullish. Next Daily trend flip is also Bullish. RSI trend is also forming bullish wedge pattern. Same level as Bull Flag breakout beginning. Gaps to fill (red boxes) line up with 1.618 Fib extension. If SP500 sells off or VIX spikes, then I expect GDX to get bullish. EXITS $34 (top gap fills) RSI over 70 Giant cup formation (pink curved line) can only be seen on 19D chart or greater. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY. Short SPY, AAPL
AMEX:GDXLong
by MoneyPatterns
GDX over GDXJ all the time, in every market, forever.$GDX is benefitting from consolidation in the gold miners space which should be expected to continue as companies continue to find ways to manage expenses while exploiting dwindling economic resources. GDX is safer and offers the same upside as $GDXJ. $GDXJ should be used for cherry picking stocks out of when you can find a company with a transformational project or projects. One such company we started buying last December is Coeur Mining $CDE with its Silvertip mine. Get to know the companies you invest in. We are buying GDX on all pullbacks. Support appears to be in the middle $20s and upside is well past $40.
AMEX:GDX
by Kirk_Spano
GDX = Miners strong but?But strength feels somewhat fleeting. Between yesterday and today dow is down 700 points and gold is only up $16 for the two days. GDX has broken out of downtrend. RSI and MACD favorable. Still has some room to run but I will post a chart of GLD and show that it has not broken out of its downtrend yet. Do the miners lead the metal or vice versa. We will see but this just doesn't feel like that break out day to me. Maybe miners run until GLD hits resistance of its downtrend channel.
AMEX:GDXLong
by BobbySpa
Elliott Wave View: GDX Rally Remains CorrectiveShort term Elliott Wave view on Gold Miners ETF (symbol: GDX) suggests it is now correcting cycle from November 1, 2019 high (28.22) as a double three Elliott Wave structure. Decline from November 1 high (28.22) ended wave A at 25.98 as a 5 waves impulse. Wave ((i)) of A ended at 27.65 and bounce in wave ((ii)) of A ended at 28.05. Index then resumed lower in wave ((iii)) of A towards 26.02 and wave ((iv)) of A ended at 26.43. Finally, wave ((v)) of A ended at 25.98. Wave B bounce is now in progress as a double three. Up from 25.98, wave ((w)) ended at 27.50 as a zigzag. Wave (a) of ((w)) ended at 27.09, wave (b) of ((w)) ended at 26.44, and wave (c) of ((w)) ended at 27.50. Wave ((x)) pullback ended at 26.14 and wave ((y)) of B is unfolding as another zigzag. Expect the ETF to find support in short term pullback for further upside to end wave ((y)) of B. Expected area for wave ((y)) of B comes at 27.6 – 28 to end cycle from Nov 12 low before the ETF extends the decline or pullback in 3 waves at least.
AMEX:GDXShort
by Elliottwave-Forecast
GDX - Strong Buy - Crossing 10WeekMAGDX buy signal on Daily. About to cross 10WeekMA for strong bullish continuation. Anytime 10Week is crossed we see bullish confirmation (weeks). Trend turned bullish on Filter Dots. Gaps to fill above in the $30's imply over 30% gains from current price. Not sure if we get this high, but bullish trend just starting today/tomorrow. SPY looking to go down soon. VIXY looking to go up. Only makes sense that GDX becomes risk on (as confirmed by the moving average proximity to current price). Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY. Short SPY and AAPL.
AMEX:GDXLong
by MoneyPatterns
6