AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
511 9 20
I don't know who is buying - probably dumb money - I know who is selling:
Big banks, funds - smartmoney...

The buyers are the short traders who are getting caught by margin calls and those bulls who exited this trade
earlier and now thinks that price is not going to stop and they are jumping on board.
No professional trader is buying at this level.

Trees are not growing to the sky: sooner or later buyers will disappear...Timewise we should have a correction next week.
And this correction will be a real tough bull market decline. The first decline of this bull market so get ready for a horrible
correction. Price will fall like a stone back to the 200 EMA in 2 months and might be breaking it marginally.


Price might pop up to the 2014 summer high at 27.70 which is the same level I calculated from the pattern.
The rally after the consolidation should be the same length as it was before the consolidation.




Comment: Exhaustion gap in GDX.
The reversal is very close...
snapshot

Related Ideas

I'm pretty upside down on DUST at this time so a change in direction would be great. Should I double down Monday to help catch up?
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AL_G AlphaDreams
there will be a reverse split 10:1 may 18th on dust
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That will not effect the profit or the loss.
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AlphaDreams PRO chartwatchers
It's pulling back now but will throw more at it close to 1.30
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why do you use the EMA and not the Simple MA? I know sometimes it is just preference but is there any other reason? Thanks.
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I prefer it because price is tagging more often than the SMA.
But I'm checking the SMA 100 and 200 always. Lot of traders are using it...
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What is your target again in DUST? I think you said $8, I've been accumulating DUST all morning, should have bought more this morning at 1.24
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I'm using Fibonacci to predict how far this rally will go: I'm looking for
at least a 23.6% correction to 5.95. (447%)
Most likely a 38.2% correction to 8.82. (664%)
But the 50% to 11.14 is not out of the table (844%)
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chartwatchers PRO chartwatchers
The profit was not calculated from 1.24...
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