chartwatchers
Short

GoldMiners(GDX) - Breakout-Doji-Breakdown

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
411 13 17
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             ...
Comment: I hope you all sold gold miners by now.
Money is flowing out of gold.
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 ???
Is it clear for everybody that buying DUST is almost the same as shorting NUGT?
Reply
olegleo chartwatchers
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
Should we get into the Gold buying trade?
Reply
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
Alright. I will wait till your next signal. Thanks!
Reply
If you were not in DUST, would you get in now?
Reply
Yes. With small position only.
The bull had started in gold.
Reply
keefer0 chartwatchers
The bull has started in gold today? Not sure between has or had as to your meaning, thank you.
Reply
In 2016 January started. 3 months ago.
Now the correction is on the way.
Reply
chartwatchers PRO chartwatchers
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
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