Hello fellow traders,
As our members know we have had many profitable trading setups recently. In this technical article, we are going to present another Elliott Wave trading setup we got in Gold Miners ETF GDX . The ETF completed its correction precisely at the Equal Legs zone, referred to as the Blue Box Area. In the following sections, we will delve into the specifics of the Elliott Wave pattern observed and discuss the corresponding trading setup in detail.
GDX Elliott Wave 1 Hour Chart 03.20.2025
The current view indicates that GDX is forming a wave ((iv)) black correction. The current view suggests the pull back is incomplete, suggesting another leg down . This correction is likely unfolding as an Elliott Wave Double Three pattern. We anticipate an extension toward the extreme zone at 44.06-43.32 area, where we are looking to re-enter as buyers.
We recommend members to avoid selling GDX. As the main trend remains bullish, we anticipate at least a 3-wave bounce from this Blue Box area. Once the price touches the 50 fibs against the (x) blue connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. On other hand, breaking below the 1.618 Fibonacci extension level at 43.32 would invalidate the trade.
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Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.
Quick reminder on how to trade our charts :
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable. 🚫
GDX Elliott Wave 1 Hour Chart 03.28.2025
The ETF has made extension down toward Blue Box and found buyers as expected. GDX is showing a decent rally from our Buying Zone, breaking toward new highs. Consequently, any long positions from the Blue Box should now be risk-free. We’ve set our stop loss at breakeven and have already secured partial profits.
Reminder for members: Our chat rooms in the membership area are available 24 hours a day, providing expert insights on market trends and Elliott Wave analysis. Don’t hesitate to reach out with any questions about the market, Elliott Wave patterns, or technical analysis. We’re here to help.
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