Parabolic Setup on the Mining Juniors

This is a very asymmetric trade setup with nearly blue skies to 100 if it can catch some momentum in the coming sessions.

We also have a nice little fractal that shows us the path upward, should we break 49.

I would not front-run this one and would wait for 50+ daily close before a serious entry. With this level of confirmation in pocket, I'll be taking a rather aggressive stance.

Its a clear magnet-move to 100 - if for no other reason than it being one of the only decent plays available.

=PigMagnet


GDXJ
GOLD
SILVER
GOLD1!
SILVER1!
GOLD
GDX
GOLD

Trade active:

Might see wealth transfer from BTC to Gold and Silver in the very near future. Could be a catalyst for this apparent parabolic move in the juniors.

Let's see.

Trade active:

So while everyones distracted by the fireworks, today is the perfect long entry into GLD.

Wait until GDXJ passes 40 and holds it on the daily timeframe to enter. The fact that a systemic selloff is occuring is what might make this guy delayed in its bull run. These are mining STOCKS and not physical gold after all.

Im longing GLD throughout today for a spectacular discount on Calls ATM for late Jan expiration.

Good luck today.

Trade active:

As promised, see updated chart, path, arc and updated key levels.

Entry is safe above a break and hold (daily) of 42.73 with no major resistance until 66 bucks.

If that isnt enough profit for you, then you can climb til 90.77, which is my new top target.

Trade active:

Forgot to mention - if you look closely, you can see exactly what is going to happen in the big circle by examining what happens in the little circle.

This is a perfect fractal and you dont really find these in many equities, especially those not based on commodities.

Compare the entirety of the small circle to a zoomed out version of the entire price history. By the looks of it, we are about to enter the last leg up from the bottom that finishes at the midway point in the smaller circle... hence the purple path.

Don't ask why this happens - itll hurt your brain.

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Full position in.

Would get in there before the close today, since I dont think the gold spaceship is gonna hang on for any longer.

Trade active:

Typical gold fashion, this took an irritatingly long time. However, today is the day.

All the money across all the markets will be flowing into gold, silver, platinum, their ETFs, their miners, their junior minors and one pig and hopefully some of his followers.

Thats a lot of cash flow so could be fun to watch..

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As requested, I have prepared a near-term technical picture that essentially covers every possible scenario other than some ridiculous crash-reaction to broader markets or WWIII, etc.

Thing is, there isnt much to contemplate, since I see a clear impulsive wave forming to start the new bull trend, which aligns pretty well with the long-term pictures above. If the price action agrees with my analysis below in the near-term (looks fine for now), then refer to long-term charts until resistance is met. At that point, best to remind me to provide another chart, if needed.

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Chart Update v2 Below and Explanation/Notes in Next Comment

Comment:

Updated Chart v2 Commentary:

Seems that we have a near-perfect impulse wave (i.) up confirming a new bullish trend on the mining juniors (never thought Id say that out loud).

The fib relationships of the lengths of sub-waves is how you can confirm counts and project the next leg with very high precision.

The chart below makes it clear that the 5th of Wave (i) is likely complete and a retracement is due. Possible that we start the day tomorrow with a slight extension of this fifth of (i) as well, but we have narrowed down the realistic paths to two very tradeable scenarios.

Trade active:

break of 49.50 and look out. advisable to slowly enter long rather since its not quite the same play as some of the short ideas i have active.

good to accumulate calls and equity here. RGLD chart that I put out is the ideal of what GDXJ could look like.

Trade closed: stop reached:

Mental stop reached. Have no interest in trading paper gold for the rest of my life because I can be much happier trading anything else.

Royal Gold is the only exception, otherwise I am fine missing the entire supposed move up that the miners should have began in AUG 2020.

Cant win em all.