chartwatchers
Short

GoldMiners(GDX) - Breakout-Doji-Breakdown

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
408 13 15
7 months ago
I'm not going to trade this one, because I'm already in DUST , though I don't like to short
gold             in a starting bull market .
It's a warning for those people who were jumping on the miners boat very late in this cycle hoping that miners will skyrocket out of our solar system...

If you check the green boxes in the past the recipe was :
Breakout with a huge volume to new highs, a small volume doji and a breakdown with big volume .
The dollar seems to be turning up and rallying for a few weeks now. That will supress gold             also.

I think yesterday the big banks unloaded their miner shares to dumb money.
If you were buying be very careful. It's very late in the gold             cycle so some kind of decline is coming sooner or later.
If it's the case an 50% pullback is normal that would mean a 17.73 GDX             ...
7 months ago
Comment: I hope you all sold gold miners by now.
Money is flowing out of gold.
7 months ago
Comment: Smartmoney used the old trick.
I was so sure about it!

Make a breakout and sell everything to the retail traders.
They got out at the highest prices.

How many times can the do it ???
AL_G
7 months ago
might be time for me to get out.
Reply
I hope you all sold gold miners by now.
Money is flowing out of gold.
Reply
tcp007 chartwatchers
7 months ago
Sir, I am embarrassed to say that I still have DUST... and added more, twice! Cost average is 3.62. No stop loss set and I'm learning hard lessons. Do you see any chance of GDX testing 19 again? I'm running out of time to dump DUST...
Reply
keefer0
7 months ago
If you were not in DUST, would you get in now?
Reply
chartwatchers PRO keefer0
7 months ago
Yes. With small position only.
The bull had started in gold.
Reply
keefer0 chartwatchers
7 months ago
The bull has started in gold today? Not sure between has or had as to your meaning, thank you.
Reply
chartwatchers PRO keefer0
7 months ago
In 2016 January started. 3 months ago.
Now the correction is on the way.
Reply
chartwatchers PRO chartwatchers
7 months ago
So in 5-6 weeks it will start to rally again.
By that time you have to close DUST or it will reset your account...
+1 Reply
Royal_Marq
7 months ago
Should we get into the Gold buying trade?
Reply
chartwatchers PRO Royal_Marq
7 months ago
Not now!
I will be buying gold and gold miners (and maybe silver) at the end of May middle of June.
Now we are going down to the daily cycle low which will be also the intermediate cycle low.
I will post when I enter. It will look like sub 1000$ gold prices are coming. Everybody will talk about the gold rally is over.
I will be buying then...
Reply
Royal_Marq chartwatchers
7 months ago
Alright. I will wait till your next signal. Thanks!
Reply
Is it clear for everybody that buying DUST is almost the same as shorting NUGT?
Reply
olegleo PRO chartwatchers
7 months ago
Yes, it's clear. But I'm already in JDST.
But why the price of gold is going little bit up, but a price of GDX moving so much to the north?
Reply
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