Comments on: GDX Rising Wedge Breakdown & Pullback Targets https://rightsideofthechart.com/gdx-rising-wedge-breakdown-pullback-targets/ Stock Trading, Investing & Market Analysis Mon, 22 Jan 2018 03:12:56 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: raider74 https://rightsideofthechart.com/gdx-rising-wedge-breakdown-pullback-targets/#comment-3749 Fri, 08 Sep 2017 04:42:12 +0000 https://rightsideofthechart.com/?p=183839#comment-3749 In reply to rsotc.

Thank you!

]]> By: malejandro1972 https://rightsideofthechart.com/gdx-rising-wedge-breakdown-pullback-targets/#comment-3748 Thu, 07 Sep 2017 21:02:52 +0000 https://rightsideofthechart.com/?p=183839#comment-3748 Randy,
looks like there is bearish divergence in the 60min charts…also in the smaller 15min timeframe.

]]> By: rsotc https://rightsideofthechart.com/gdx-rising-wedge-breakdown-pullback-targets/#comment-3747 Thu, 07 Sep 2017 20:34:07 +0000 https://rightsideofthechart.com/?p=183839#comment-3747 Good question. The answer is yes,,, and no. By listing these 3 relatively shallow pullback targets, the first of which was hit with GDX bouncing from there so far to take out the previous highs, were my pullback targets for this 60-minute wedge breakdown, any of all of which were likely to be hit before the miners make one last thrust up to my target around 25.70-25.85 on the daily chart, at which point I expect a more considerable reaction (i.e.- pullback and/or consolidation).

Therefore, you could say that I am (or at least was) when that GDX reversed off that first pullback target) near-term bullish but then would be looking to book profits on most or all my gold & silver miners swing trades, quite likely looking to re-position long after a pullback but that level has not yet been determined yet.

Another way to say that is that although I favor a little more upside in the miners, I don’t think the R/R to going long here (if not already long) is favorable since I’m looking for about another 1% upside followed by what could be a pullback of 4% or more. The SIL active trade is very close to T1, closing 44 cents below it today, so hoping that will be hit soon to book full profits on that official trade.

]]> By: raider74 https://rightsideofthechart.com/gdx-rising-wedge-breakdown-pullback-targets/#comment-3746 Thu, 07 Sep 2017 18:02:28 +0000 https://rightsideofthechart.com/?p=183839#comment-3746 Sorry for the basic question: is the projection for the near to intermediate future for GDX bullish provided it doesn’t extend below 24.15? TIA.

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