the GDX short has now hit the bottom of the second target zone so consider booking full or partial profits and/or lowering stops. these targets are the same targets from the previous GDX short trade and for now, i’ll use these for this trade. T3 will be final target for now but there’s nothing wrong with taking profits along the way if swing trading this one lower. first chart is original 2-day period with the update daily chart (to zoom in) next.
correction: i just referenced the previous posts on GDX and realized that i had forgotten to remove it from the set-ups and active trades categories after i posted this update on june 21st, when GDX had hit a 60 minute target/support area:
in fact, i am going to go ahead and consider this the final target for GDX and officially remove it from the Active Trade and Set-up categories but there’s nothing wrong with lowering your stops and holding the short for lower targets if so inclined. in fact, the 2-day chart below still shows the targets from the last short trade, which could act as targets if GDX continues to move lower from here.
regardless, as some may still be in the trade as per the comments above, i will continue to update it as i see anything compelling.
