GDX
GDX is nearing a larger degree wave 4 at the 0.5 retrace of the last move up. This zone also lines up beautifully with multiple levels of strong support. Should it fall a bit further, it will be primed for a large move to the upside. If/when that happens, will be playing NUGT or possibly switching over to GDXJ and JNUG. Due to the lack of a good place to set a micro stop, the entry will have to wait for an initial bounce and retrace.
GDX
Comment:
I might note that the last wave of a triangle often exceeds the normal support/resistance line, which it did in this b wave.
Order cancelled