VANECK VECTORS GOLD MINERS ETF AMEX:​GDX

Planning to scale into trade til gap covered. Hoping to go up before hitting resistance above. Around 8 day hold.

Larger Wave B should be near completion

breakout pattern noticed. tgs gap fill/ also a .618 fibo

after completing a long drawn out wave 4 correction following a 6 year impulse down from its 2011 hughs.

PA near 19.75 is key in my thoughts. We might not ever get that low. Safe trade Big profits :-)

A double Zig-Zag in the (c) – wave would achieve a measured move equal in length to the (a) – wave.

If it was a true breakdown price should had opened by a gap and drop hard. This is going to be a false breakdown from the range. We will be heading to 25 $ soon.

Watch that level. $DUST may dump if we break it.

Expecting $17.00's at this point. GDX looked like it would start a bull pattern earlier this week but failed multiple tests to pass $19.00.

Needs to break $19.08

GDX

Should see 16 soon....

$GDX #GDX is very oversold on the weekly chart and looks bullish to me. I'm already in $NUGT since $12,40 and therefore I'm positive also. Nothing is sure yet, I know. I've also placed an order of silver XAGUSD at $13,75 $NUGT $DUST

After Weeks over selling GDX is trying to form a bottom. RSI oversold, bouncing off old resistance (now support), Break of $18.5 will likely lead to recovery up around 21$

GDX is currently finding support How to trade it: - Enter a small position at these levels If it bounces to 19.20-20.5 sell for a quick flip. If it drops further double down 17.7-17, downside past this point is unlikely as GDX is already oversold. Sell the bounce after this second buy. Not financial advise, just educational

Update 9/1/18: Gold (Precious Metals) Miners Sell Off Fourth Wave corrective bounce continues. Likely PM's are tied to the dollars bounce, and will keep selling off until it tops...

!!! Disclaimer: Personal idea only, not a trading advise!!! Miners will suffer a bit more until wave 5 has finished.

Short Target 19.25, I think there is a inside bar for that reason i think it is possible Bullish add other tools.