Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

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http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Wednesday, December 3, 2014

Elliott Wave Analysis of GDX (update)

This is an update to this idea http://wavepatterntraders.blogspot.com/2014/11/elliott-wave-analysis-of-gdx.html

Currently I think we will likely see a bit lower to complete a small correction from the 18.09 lows, ideally we see buyers step up around 18.75, but a bit lower should complete a corrective decline.

I am looking for the bulls to step up above 18.09, so readers that wish to take long positions can do so buy using 18.09 stops. This is a very aggressive idea, but if its correct we could be on the verge of a strong break out higher in what we call a "3rd of 3rd". That will be a great move for the bulls.

Below 18.09 will negate the current short term idea, but its still valid on a larger time frame as long as it remains above the November 2014 which is at 16.44.

Do you need more updates like this? Come join us, GDX is part of the commodities section, for $15 a month will get you access to road maps just like this.