reaching out to the bottom of current trend is not an option , trades are made daily here , little oversold doesn't counts here either .. in my opinion dips are must to be bough today , yes it's Friday
This is what we ask GDX regarding our primary scenario. The ETF has shown momentum in both directions: upward and downward. However, we expect the bulls to win this fight, pushing GDX above the resistance at $32.58 and into the turquoise zone between $33.93 and $35.57. There it should finish wave ii in turquoise and turn southward again, heading back below $32.58....
HI again ..... see this chart really bullish on That ... I am looking to enter my long on that littile by little ....
observe dollar cost aweraging .....dont fomo.....little by little do that not by whole of your account ..
comments below
Guys lets mention this relation : inverse correlation between DXY and GDX chart ,,,,, that is clean for your decision ....
I am sure we find big resistance around 105 for DXY .......
Good luck
Hi guys when you want to buy the thing like this we know the probability favours to increase and every thing shows us we may have good bounce up .........
But you should manage your risk and as an example put 300$ in 1 stage and put 600$ and ......3
this protect you from loss
consider in these kinds of stuff me personally use mental stop loss not physical type...
I anticipate a 20% movement in gold miners in the upcoming weeks, following its breakthrough of a resistance level which now serves as a support level. Additionally, silver has broken and found support in above a channel , indicating a potential bullish swing in gold. Once gold closes above its declining trend line, which I expect to happen, it may accelerate...
Hi .... Guys you want to make money by good bounce ? dont miss this opportunity .....
look at 30 odd number good support to get a bounce from that ...
but consider price could pierce 29 and dont forget aweraging your entry point .....
always chase high probability....
what is in your mind ??
BULLISH ABOVE 32.24
BEARISH BELOW 31.48
I may take an intraday put position below 32.02
Price is testing weekly 32.24 level if it break and hold I’m looking to go bullish.
This chart pattern has been forming since 2011. It is a triangle merging an uptrend and a downtrend that are potentially converging in the near future.
"When it's raining gold, reach for a bucket, not a thimble."
- Warren Buffet
Hello friends. We think that this is a big opportunity to get bullish exposure to gold miners, and it's good to adjust the sizing according to the edge so we are building a big long position for gold miners.
There are several factors that make this a great time to get long.
For one...
So many indicators and time frames are bullish GDX right now with bull divergences and montly MacD cross. Classic cup n handle formation with a backtest of cup in progress. Im no EW guru but it looks like we are at the beginning of wave 3. Good RR here with a stop at $31. Let me know what you think of analysis. Cheers.
Gold Miners ETF (GDX) shows a bullish sequence from 9.26.2022 low favoring further upside. The 100% – 161.8% Fibonacci extension target from 9.26.2022 low comes at 38.3 – 45.7 area. Rally from there is unfolding as a nest where wave ((1)) ended at 33.34 and wave ((2)) pullback ended at 26.64. Wave ((3)) is in progress as another 5 waves in lesser degree. Up from...
Here's a Daily candle Trend Channel Chart of GDX with a Fibb retracement targets for Bull positioning. Bears look for opportunities on counter swing trends back to highs or backtests. Bear trend emerges sub 1900. IMO
GDX is now sitting in an intersection of the Bear & Bull Swing Trend Channels put in place from the Pandemic Crash. A tag of the lower rail at around 24 is likely which would take GDX down another 10%-ish. This does not mean a Bottom is in and a new Bull swing will start but it is the first step in starting to track for a potential turn. A complete failure at...
Read these articles here ,
I am not a scholar to know what the government sleeves are up to but this article spells something is brewing round the corner. If you read some of my articles last year, I did say that I expect the Feds to start lowering the interest rates as unemployment figures will begin to climb higher. So far, the latter has not happened though...
From the portfolio selection on 5 April 2023...
XLK has broken out and moved;
GDX just broke out;
EWS (Singapore ETF) is just breaking out;
XLE (Energy) just rebounded to find its footing back in the channel.
INDY or GXC or ILF maybe next?
