bhsencer
Short

GDX, EW analysis of the current GDX cycle

AMEX:GDX   VANECK VECTORS ETF TRUST GOLD MINERS ETF
125 views
10
125 6
Based on the gold would bottom at ~1200$ or so, GDX might have some more decline further. Not whole a lot though ....

GL
Sorry, not sure. Do you mean to short GDX from yesterday bounce?
Reply
bhsencer lantao517
@lantao517, This is assumption of gold is going to be ~1200$ then some decline is expected in GDX, I would wait the decline and LONG it instead shorting it from that level. Another thing to worry is DXY. Let's see what happens....
Reply
lantao517 bhsencer
@bhsencer, Gold high chance to have already found the bottom, which was 1205 with 2 times tested successfully. GDX might just a bear trap few days before and hit 21.04. We should turn to bullish, how do you think about it
Reply
bhsencer lantao517
@lantao517, Gold have failed daily cycle, might move lower. Arpi is the expert on cycles. I am watching DXY which is on 5th impulsive wave (short term long), soon it will turn cyclic correction (short) soon. As feel as gold and miners are running away of my grip. I will wait for how DCL will play. DXY is going to be bullish couple days so it will put the gold and futures on pressure, you might start accumulating.

Reply
lantao517 bhsencer
@bhsencer,yesterday GDX hit $22 key resistence but finished with a big shadow line, more likely hv built up a false breakout shape and also a failed daily cycle, and then the coming direction should be move lower to DCL, how do you think
Reply
I agree, another few days and I'm going long. 1200-1197 sweet spot
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out