Elliott Wave Training

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Showing posts with label GDX. Show all posts
Showing posts with label GDX. Show all posts

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.




Sunday, November 23, 2014

Elliott Wave Analysis of GDX

The reversal is no surprise to us, we have been expecting it, what happens from here is the important part.

In my last post  http://wavepatterntraders.blogspot.com/2014/09/elliott-wave-analysis-of-gdx.html

We were still looking for a bit more downside around the 17-16 area, so far the low is on that area, so a great start for our ideas. However, we still don't have the important clue of a 5 wave advance from the November 2014 lows.

Above 18.76 we are targeting more upside, wave [iv] may already be in place, if so we should see a move higher early next week. Another idea is that wave [iv] could take the shape of a triangle, which would suggest a bit more sideways price action, followed for a "thrust" for a 5th wave.

Currently bullish above 18.76.

If we do see a 5 wave advance, the bulls would have strong evidence of an intermediate low, any subsequent pullback would be a setup to buy at a future date.

Below 18.76 negates the idea.

Come join us, you can see our ideas for GDX along with the HUI and GLD, all 3 markets are part of the commodities package.

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Sunday, September 21, 2014

Elliott Wave Analysis of GDX

Should it be a surprise to you that Gold stocks are puking again?


Well it maybe a surprise to you, but not to us. Members have been fully expecting lower prices for a number of months now.We still think we see more downside to complete wave 5 of [3], so under $20.00 is likely but ideally a move towards. $17.00 - 16.00 is seen.


That's where i think it will offer the bulls a great chance to start to accumulate this stock, so as price moves lower and if you are a bull, embrace the opportunity to buy at great levels.

Once wave [3] is completed i am expecting a move towards 35.00 for wave [4] so the potential for a "2 bagger".