My personal view of gold miners: going short.

This is the view I currently favor. Ifffff correct price should not go above 25.71 (a). May want to wait for short term uptrend line to be broken. Daily RSI has a negative reversal followed by bearish divergence which often is followed by a drop . Process your way.
Trade active: short term up trend line broken.

@goodguy Time to revisit this one, as about $20 right now and likely ready for uptick play.
Silver ETF SLV another chart worth looking at, as silver / gold ratio favors silver for better play.
goodguy Pokethebear
@Pokethebear, thanks for your comment. Something about the price action makes me think there may be one more drop particularly if other stocks rally. Price right at down trend so may know soon.
"Your" -- Triangle pattern is a very good wave count at this time. 3-16-2018
goodguy jeffreyjim
@jeffreyjim, Thanks JJ. Just looking at this again. It looks like the "b" of the down correction may be a triangle too. There always lots of options which is why EWT although helpful is not something to be dogmatic about. That is why most traders I think dislike it. Have a great weekend.

Some things for everyone to think about at this time 2-13-2018 -- "GDX"
This is "My" opinion only. -- Sharing some of my thoughts.
1 = Higher interest rates. -- "Federal Reserve" interest rate manipulation ending ?
---- U.S. Treasury Bonds going down in value.
2 = Rising U.S. Dollar -- Looks like 5 Waves down "may be" completing from January, 2017 high.
---- Wave 2 up should start soon. "DXY" -- (I think ?)
3 = Looks like U.S. Stock Markets may be entering a "Bear Market"
Dow -- SP 500 -- SP 100 -- Nasdaq -- Looks like 5 Waves down from highs.
--- short term -- medium term -- long term -- only time will tell.
4 = Gold Stocks most of the time when things like this happen.
Go into a sideways trading range to large down move.
If -- ? -- U.S. Bond Markets turn up -- U.S. Dollar starts Wave 3 down -- This could be very "Bullish" for "GDX" ?
This is not a buy or sell recommendation. -- This is for information only. -- "I" could be 100% wrong about this.
Gold Mining Stocks --- " GDX " --- GDXJ --- ASA
This is "My" opinion only. --- 2-13-2018
Some Things To Think About. -- "GDX "
#1 = Major Bull Market Starting -- 2-9-18 Low -- 33.3% or less chance.
#2 = Major Resistance #1 = $24.86 High -- 1-25-2018
----- Major Resistance #2 = $25.58 High -- 9-7-2017
----- Major Resistance #3 = $25.71 High -- 2-8-2017
----- Major Resistance #4 = $31.79 High -- September, 2016
#3 = January, 2016 Low = $12.40 -- August, 2016 High = $31.79 -- Total "$" Gain = $19.39
Two "Elliott Wave Counts" to think about. -- "Wave One" or "Wave A" -- up completed.
#4 = One "Elliott Wave Count" to think about for -- "Wave 2" or "Wave B" down.
August, 2016 High $31.79 Started -- "Wave 2" or "Wave B" down.
Wave A -- of Wave 2 or Wave B down ended -- December, 2016 Low = $18.58
Wave B -- of Wave 2 or Wave B down started -- December, 2016 Low = $18.58
Wave B -- of Wave 2 or Wave B down ended -- ?
Wave C -- of Wave 2 or Wave B down Started -- ?
Wave C -- of Wave 2 or Wave B down Ended -- ?
#5 = Wave 3 or Wave C -- up started -- ?
#6 = Major support #1 = $18.58 Low -- December, 2016
----- Major support #2 = $12.40 Low -- January, 2016
#7 = "Wave 2" can not ever trade lower than "Wave 1 Low" = $12.40
#8 = "Wave B" can trade lower than "Wave A Low" = $12.40
Wave 2 or Wave B Down -- could be done (finished December, 2016 Low = $18.58
"My" opinion 33.3% or less chance at this time -- 2-13-2018
Other (more) "Elliott Wave Counts" do exist.
This "Is Not" a reconnendation to buy or sell anything.
This is for informatio only. "Education Only"

Let's See What Happens
"One Eye Jim"
goodguy jeffreyjim
@jeffreyjim, Thanks for the feedback. If you have this charted could you post a picture here. Would be easier to process. If you don't know how let me know.
jeffreyjim goodguy
@goodguy, Do not know how. "Sorry" very "Old School" computer stupid.
goodguy jeffreyjim
@jeffreyjim, Being inexperienced is not the same as stupid. There is a lot of trial and error to this stuff. Took me awhile to figure this out too. If you have a chart you made, at the bottom on the right hand side there is a diagram of a camera. Push it and a box comes up with a link to your chart. Push "copy" and it temporary stores the link for you. Go to the site you want to post it like a comment on anothers chart. Click in the comment box and you can type a comment. Then push enter to go to a new line and right click on your mouse and push paste. The link to your chart should be there. Then when you push the post comment button you the chart will be there with you comments. Give it a try. If you're computer explodes I did not tell you this. (just kiddding).
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