GDX Trampoline (within possible inverted H&S)A look at the GDX on the daily, in conjunction with the 15min.
Several things going on here, more detail on chart.
Hopefully this provides some insight(s).
GDX trade ideas
GDX Wedge - SHS - BACA
GDX ETF , Wedge break out, potential SHS Neckline, BACA.
Above 2016 Support Level.
$GDX Beautiful .618 bounce First PT 35I don't normally post Fibonacci's because they cloud up my charts but GDX appears to have made a beautiful bounce off the .618 fib line.
I went long DEC $34 calls, already up +15% but my PT is $35 in the near term.
A lot of bullish option flow for GDX/GOLD in general, I also have IAG shares doing nicely.
Whatever your strategy preference, I think it's a good idea to get long Gold for near term upside.
GDX looking for higher lowGDX have been so beaten for so long, and every previous attempt was not ready for that consolidation nor higher low. After a recent and decent break above the 55EMA, the Gold miners GDX ETF is retracing hard (as expected) and is now looking for a higher low, in about a week or two.
And with that, then we know the next run would be more robust.
Will Jerome Powell Bury Gold Miners?The VanEck Gold Miners ETF has had a countertrend rally this month, rebounding from a 17-month low. But now could be the time sellers return.
The first pattern on today’s chart is the $33.25 price zone. GDX bounced at this level in November and July. It marked the high in early September and seems to be resistance again this week.
Next, stochastic has been in an overbought condition. This reading also marked tops in May, August and September.
Third, consider upcoming events like the Federal Reserve meeting and non-farm payrolls next week. Those could potentially boost interest rates and the U.S. dollar, which may be negative for precious metals.
Finally GDX is forming an inside week, a potential sign of its recent bounce slowing. This pattern also occurred at tops in August 2020 and May 2021. (See below.)
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
GDX DailyAccording to technical analysis, gold and silver stocks appear to be preparing for medium-term growth.
GDX SHORT SWING TRADE | GDX | SHORT @ 31 - 30 | TP @ 29, 28, 27, 26, 25 | SL @ 33 | PATTERN = DOUBLE BOTTOM BREAKDOWN |
PNF chart on the hourly shows a breakout, DOUBLE BOTTOM BREAKDOWN
The strategies I use involve a mix of PNF and Renko. My type of trading is strictly swing trading.
Speculating PatternIt is clear that Gold has been on a steady bear trend.
From the look of the pattern forming in the daily chart, it appears that the price is raising to form a lower high (purely speculative of course).
I'll need to see some clear lower highs before deciding when a bull trend comes along.
However, over a short period of time, there may be opportunity to catch a bull move.
$gdx should be another leg down GDX Target 2.50
Similar to Silver, gold and gold miners index should be heading Down for the final leg.
GDX Strong Move UpGDX might have finished its correction combined with Gold and Silver and ready to moon.
Target: 45
GOODLUCK!
GDX and probably GXC rising to the occasionThe GDX was in close watch and it is time... Technicals are favourable for a bull run, and so is the broad equity market. Also had broken out of the Buy Zone!
GXC the China ETF is just about ripe based on technicals. Similarly, broad equity market drift should hold in supportm and the immediate gap should be closed for a run up.
$GDX - my gold countHey Guys
Normally when I trade gold its via options on GDX. Someone asked me to look at my take on gold so here it is. We are still looking for a wave 2 bottom and I am seeing us as having finished off wave a of our final wave Y of Wave Y of wave 2. We are in this massive falling wedge structure as well and I am not seeing any RSI divergence on the daily (saw it on hourly frames but that is likely just pointing up for wave b). I think we fail here again at the upper TL around 31 a share again. From there I see the last leg flush heading towards the 61.8 extension & 100 extension zone. That is where wave Y's like to find bottom (although can be 161.8 I am not seeing that here). There is confluence in this area with our 61.8% retracement as well.
My prediction: We will continue to rally until upper TL, from there we flush again and head down to our actual bottom at the 26.50-27.5 zone. That is a good "bottom" buy spot IMO.
How to trade this: just alert on the Upper TL break. No reason to try to call a bottom. Lets get a falling wedge breakout and then grab a position at that point. Buy half on break out and buy half on retest
GDX & GOLD to Collapse?!!Seasonality and series of 1/2s could hit hard with the FOMC today??
Invalidation: 32.61
GOODLUCK!
GDX - !GDX is flirting with an important level that marks the breakout area from last year's massive sell off. Looking left we can see this level has a bit of history. Resistance in the 33-34.50 area is heavy but I think we are headed higher. Sentiment is awful and RSI is telling me something is amiss. If the Fed doesn't accelerate its tapering program gold could catch a bid.
GDX almost baked...GDX... has been very disappointing of late, but patience is needed for this one.
Previously marked out bearish notes and downside target, plus Buy Zone. It is about there now, and looks to overshoot to the target nearer to 28.
Be patient... be ready too.
Trying to make sense of a complex correction.A possible combination of ZIG ZAG followed by a FLAT pattern and it should be completing soon. The 5th wave of the C wave could be an ending diagonal pattern, if so the reversal could be very fast.
The bearish alternative is that next bounce could be a B wave that retests the May high, then back down again in a C wave.
GDX Daily TimeframeSNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
DO NOT USE THIS STROTEGY FOR LEVERAGED TRADING.
It will not give you the whole wave like any other strategy out there but it will give you a huge part of the wave.
The BEST TIMEFRAMES for this strategy are Daily, Weekly and Monthly however it can work on any timeframe.
Consider those points and you will have a huge advantage in the market.
There is a lot more about this strategy.
It can predict possible target and also give you almost exact buy or sell time on the spot.
I am developing it even more so stay tuned and start to follow me for more signals and forecasts.
START BELIEVING AND GOOD LUCK
HADIMOZAYAN
GDX worth the riskIf GDX wants to go higher, it must react now. Worth the risk to long term OTMs. Stop loss is prior low 30.69, should not test that.
GDX Orchestra: Symphonic HarmonyWith gold showing strength more recently, I have identified some interesting trends/synergies in this $GDX weekly log chart...
Is this the final major low before the next leg up?
2021-08-28 GDX - respecting supportStill hugging the support line from April 2020. Paying close attention to this level considering gold is looking bullish.
Looking for bullish setups on daily and weekly charts around this price
