AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
149 27 10
Over 23.28 I'm giving the yellow count the remotest possibility. Otherwise, looks like the last stages of a decline in wave (2) to the ~21.95 region. Smaller time frame will have tighter target region for green (v) of C of (2).

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Few more squiggles possible in (iii) of C. The alt red B is another possibility, but doesn't materially change the target in this decline. Green ovals indicate target region. I want to see some sign of bottoming before trying another long trade.
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Very nice minutes chart! Thanks!
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Jv200909. Jv200909.
Hitting important trend line here around 23.30-23.40 area. Let's see if it holds.
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Jv200909. Jv200909.
3 black crows pattern on the daily, even if it bounces will come back down for one more red candle.
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I'm not a candle guy, but yes agree there should be at least a small bounce soon. Gonna take a few days to settle out and establish a new base of support I'm guessing. Everyone gonna be bearish by the time this takes off, assuming of course that a 3rd wave is in the relative near future.
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Jv200909. nick.holland78
The 3 black crows pattern does not call for a bounce instead saying that one more red candle going to lower low is coming. The trend line support will bring some kind of a bounce giving the oversold condition, positive divergences and good enough to fit your wave iii.
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Jv200909. Jv200909.
Or maybe the tiny wave iii of your iii??
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Jv200909. Jv200909.
Ooooh, sorry, I meant to say tiny wave iv of your iii
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Right
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I don't have any confidence the yellow count can hold, but interesting that price stopped right at support above the 100% extension of (1)-(2). These yellow fibs are log-based, manually entered. Sorry it crowds the chart so bad but tradingview doesn't calculate them automatically in log scale.
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Jv200909. nick.holland78
Interesting.
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Yellow count very unlikely. Arrived in 1st target, should see a bounce soon before 22 region.
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Jv200909. nick.holland78
Maybe I will try to nibble just a little around 22.50
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Jv200909. Jv200909.
22.50 = target for the broken triangle at least. And maybe a support line....Will nobble just a little.
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Jv200909. Jv200909.
I know gdx just hit the 200dma and is holding....but I am too chicken and maybe too passive.
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Jv200909. Jv200909.
Too many times these triangles downside targets are not met....
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Jv200909. Jv200909.
23.76=A of 4??
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Makes sense. Haven't been trading it right here.
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Here's the way I see it. Straight up to yellow (5) seems doubtful from here, but impulsive bounce then holding a corrective retrace would be the set-up.
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nick.holland78 PRO nick.holland78
And before you ask, I'm not sure about timing. Will be looking for positive divergence on RSI and MACD with another low. (green lines approx., not prescriptive)
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Jv200909. nick.holland78
I don't know the timing for the low.
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Jv200909. nick.holland78
Nick, any idea if we are still in wave iv?
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Jv200909. Jv200909.
Looks like the iv we saw few days ago was iv of iii. Now the green (iv) on your chart.
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Jv200909. nick.holland78
I don't think so too for yellow 5. Maybe some kind of a complex wave iv for a few days? I have a very small core position which is in red now; it's not a lot, but still, I don't want to rush anything. Maybe it's time to follow Avi.
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I've slipped the old white line over in time, turned it green to match the corresponding count. This is what I believe is playing out, and the positive divergences look like they could develop nicely into one more low. Bidding my time on a long entry in this complex.
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Jv200909. nick.holland78
Hi Nick, Is Green your primary? Red still valid? And white omitted?
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green line is the new white. I just changed the color to match the count labels and differentiate the delay in time. Sure, the red is possible. Also possible that (2) completed in a W-X-Y and price takes off. Only a clear impulse up, followed by a corrective pullback holding support, then taking out the high of that presumed 5-up would have me looking higher directly from here.
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