Home Forums Members’ Forum GDX (and friends) October 2015

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • sueZmacD
    Keymaster
    Post count: 219
    #12109 |

    Let’s start to share our adventures with GDX (and a few of the individual miners) as it navigates this first move. I have been day trading using the 60 / 30 / 15 / 5 minute charts (depending on the day of the week and the setup). I’ve had several really nice trades and am primarily looking to trade the up move. I am not really trading short. See the full overview of GDX under the Members’ Blog Tab!

    Starting next week, I’ll be watching the price as it takes a breather into what appears to be a flag setting up… I’ll be focusing on the hourly MACD for insight regarding the possibility of what’s next for GDX. Also, I am not in a hurry – if this is a bottom (a true bottom) we will have ample opportunity to catch the moves of gold (GLD), silver (SLV) and miners going forward…

    One of the important things I want to point out is – the consistent intersection of 3 or more moving averages at the turn of price on these daily charts in particular (usually accompanied by a similar setup on the hourly charts). When these setup and the overall market supports the move (either long or short) – they can be very profitable…

    Also on my watch list that are components of this group are: AEM (see attachment with notes), NEM (attachment shows it entered it’s first flag last week), and ABX which is much weaker than the other two.

    Others to watch in the precious metals & miners groups: GG / GOLD / RGLD / GLD (the gold fund) / SLV & SLW (silver) and of course FCX (copper and other precious metals)….

    • This topic was modified 5 years, 6 months ago by sueZmacD.
    • This topic was modified 5 years, 6 months ago by sueZmacD.
    sueZmacD
    Keymaster
    Post count: 219

    GDX Update: Sunday, October 25, 2015

    If you really want to see a “picture perfect” reversal – it’s definitely the GDX (Daily chart)… A great example to print screen and save in your binders as an example for future reference.

    I have done a follow-up video for GDX (and Friends) – and posted it under MEMBER VIDEOS – in the future, watch for the convergence of the three Moving Averages – and you’ll know what you’re hoping for when it sets up — works to the short side as well…

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.