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VanEck Gold Miners ETF

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GDX trade ideas

GDX LOOKING FOR A MOVE UPWARDSAs the title indicates, I'm looking for another decent-sized move in precious metals. The war in Ukraine, bitcoin gaining support from more and more regulators, climate change/green energy initiative and the oil crisis (if there is one) are all serious things that could put a lot of pressure on the U.S. dollar. I like gold better than cryptocurrencies that are likely to be very volatile and uncertain. Gold has been around for thousands of years for a reason. A sharp rise in gold prices are to be expected, but when have we ever witnessed gold losing 30% overnight? The answer is never. Seeing a return from an investment in gold is all about timing. Obviously you don't want to be invested to heavily in gold when the equities are performing real well. On the other hand, when the market is uncertain it's good place to go. GDXJ, GLD.. my bullish stance is on the metals market, silver and fuel metals like uranium and lithium, of course NICKEL!!!! Palladium seems to be doing well also. Good Luck!
AMEX:GDXLong
by DontSlamTheDoor
3
GDX BullishGDX Daily Timeframe. -GDX has successfully closed above the falling wedge pattern which has been formed since 6th August 2020. Thus, this would be a potential continuation of its major bullish trend. -In smaller timeframe, both H4 & H1, GDX also formed a double bottom with the neckline in $35 price range. -Bullish divergence is clearly presented in daily timeframe (MACD). -The rising market uncertainty from Russia's invasion towards Ukraine affects investors and market makers to secure their money in safe haven assets such as gold and other commodities.' -Overall view : Bullish with the following resistance in $40, $42 & $45.8
AMEX:GDXLong
by maplethecorgi
GDX... Launched!The Gold miners ETF had a clear launch over the last two weeks, amidst the build up of the global events in Europe. The Weekly chart has a sustained double breakout of a short term trendline, and the weekly 55EMA. The technicals (MACD and RPM) are very supportive, crossing upwards and into bullish territory. The Daily chart shows the past two weeks developments, nothing short of being impressive and decisive. An immediate term resistance is seen, but am optimistic that the Gold miners have launched from the base low, at long last. As previously mentioned... Gold prices have since moved significantly to above 1900, and equites are on the rise. This are supportive of the GDX. Currently, a slightly stronger USD is disregarded and off set by the previous two. GDX has since moved up 10% and is slated for much for upside, way above 40 IMHO. Projections in a later following post...
AMEX:GDXLong
by Auguraltrader
2
GDX LONG, MASSIVE MONTHLY BULL FLAG = Target $58.40This is a MASSIVE Monthly BULL FLAG (Blue). After breaking down this massive trend channel GDX has recovered and is now breaking back into the huge UPTREND Price channel while MACD is remaining above ZERO. I realize the month is not over yet but when you are struggling to find places to put your money when the stock market is retracing this would be my next trade. Also with the Gold chart looking better each day and that GLD Trade I posted going so well this would be the place to add to that exposure with more upside potential. Long at OPEN tomorrow. Target = height of the flag pole putting us at $58.40
AMEX:GDXLong
by eganon69
GDX about to break out?It has been many fake outs, but yet again, the GDX is attempting to break out, one that starts with a nice long bullish marubozu type of candle on both the weekly and daily chart. The weekly chart had a gap and run marubozu, with MACD turning upwards but not yet in bullish territory, nor clear of the 55EMA. The daily chart had a decent long bullish candle that is supported by the technical indicators. What needs to happen over the following week is a proper breakout and sustaining above resistance turned support levels.
AMEX:GDX
by Auguraltrader
Three Falling Peaks On The Gold Miners ETFThe Gold Miners don't look like they are setting up to have a very good time as they have made Three Consecutive Lower Highs and have penetrated the line of support it's been holding. Just from looking at this pattern and how we are trading in between the 55 and 200 week Moving Averages and Preparing a Weekly Death Cross it would seem that it is setting up for a +40% Decline in the near future so long as it continues to make Lower Highs.
AMEX:GDXShort
by RizeSenpai
1
GDX Lame Duck ?This week, the GDX did a lame effort to test the 55EMA, if you could even call that a test. Hence, the 55EMA failure was pretty much a lame effort too. This downward consolidation is growing lame and old, but it does appear to continue perhaps for a bit more as I do not yet see strength in the accumulation... having said that, when it comes, it is likely to be rather overwhelming. For now, the same zone is pushed forward as a Buy Zone or Break Zone. This is like fishing... all is lame until the big bagger comes, when it really comes, it comes with a hard fight! Stay safe!
AMEX:GDX
by Auguraltrader
GDX possible bottoming out... or?Over the last couple of weeks/months, perhaps even since Aug 2020, GDX had been a tad challenging but also very intriguing. Firstly, the number of fake outs by GDX is numerous over 2021. Secondly, it is followed by failures for lower lows. Third, an opportunity appears to be forming... it is almost time. The weekly chart on the left failed the 55EMA yet again, and returned to close near the range low, on a solid candlestick. Technicals are bearish, as is price action. The daily chart demonstrates how quick a breakdown it can have, but also appears to have bounced off a long term steady support. The candlesticks show a classic example of bearish outcome, and even a possible technical bounce in the coming week. Technicals however are skewed slightly towards bearish. Overall assessment is that we have a chance of GDX bottoming out, but also at risk of a breakdown, possibly.
AMEX:GDX
by Auguraltrader
1
GDX Fake Out burns badIn the last post on GDX, it was mentioned: "Oops... Gapped down later last week. Again, more downside, watch for breaking of the range into the Buy Zone, and more importantly IF the support holds (white line)." For most of the week, I looked like a fool... as GDX closed the gap, tested a minor support and then spiked a long candle above the daily 55EMA. I have to be honest, I did relook and asked myself IF I missed something, misread or was biased. And then comes Monday, and by midday of trading, the previous gap down is reopened. Together with re-entry of the consolidation zone (as expected), and a repeated failure of the daily 55EMA, this story now signals an exit on the other side of the consolidation zone. Candlesticks (weekly and daily) all appear bearish, and not even needing to mention the technical indicators. Notwithstanding, I am looking for a slight higher low from the 15 Dec low, in the Buy Zone marked, over the current week. Have to keep reminding myself to be patient. When it happens, it will be very obvious. Meanwhile, I am hanging on to my knickers! LMAO...
AMEX:GDX
by Auguraltrader
4