Realized my older GDX hourly post was getting stale. Here's the update I'm working from. Matches the micro details from posts inside the earlier thread. The 61.8% extension at 32.80 region is a clean 5-up for (i) of iii , the typical target, but its certainly possible to consider (i) complete already as indicated in pink. I've got open orders below the green line at 30.27.
Almost hate to do this, but changing wave degrees on this chart like I did on XAG and XAU. The white lines are log-based fibs, as labeled. That brings me to consider an alternate count shown in white which targets the .618 extension of (1)-(2), making white a variation on the green (1)-(2) count.
I have been watching this cycle guy for over 6 months now and have witnessed him nailing short term cycles all the time for gdx, oil, ibb, some currencies, etc. And I am not joking. I am not a subscriber (not yet). He posts for free once in a while. I want to send you a chart he posted which does not say much technically; but on this chart he indicates that according to his cycle work we are close to the primary 4 top. I know you don't like that; neither do I. Look for: pivottrader. Here is the link: