FREE

Gold Miners (GDX) Buying the Dips at the Blue Box Area

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 and explain trading setup.

GDX Elliott Wave 1 Hour Chart 05.12.2025
The current analysis suggests that GDX is doing a correction that is having a form of Elliott Wave Zig Zag Pattern. The pull back is incomplete at the moment, we expect more short term weakness . We anticipate an extension toward the extreme zone at 44.86-40.83 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 B red 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 40.83 would invalidate the trade.

90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test

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

GDX Elliott Wave 1 Hour Chart 04.21.2025
The ETF extended lower into the Blue Box area and found buyers, just as expected. GDX has made a solid rally from our Buying Zone. As a result, any long positions entered at the Blue Box are now risk-free. We’ve moved our stop loss to breakeven and already booked partial profits.
The correction appears to have ended at the 44.72low. As long as price remains above this level, further upside remains likely. Alternatively, if that low is broken, we anticipate a deeper pullback and will look to buy the dips again at the next equal-leg zone.

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.



Elliott Wave Forecast
Thank you for exploring our GDX Trading Setup with us. While we analyze 78 instruments, it’s important to remember that not every chart represents a trading recommendation. For official trading signals, we invite you to join our Live Trading Room, where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-day trial to unlock new trading opportunities.

Over the years, we’ve developed a reliable trading strategy that clearly defines entry, stop loss, and take profit levels. By joining us, you’ll gain access to expert guidance and the chance to refine your trading skills

Join us today !
???? Elevate your trading with Elliott Wave Forecast!

???? Ask unlimited questions during trading hours (Monday to Friday). Our Chat Rooms are an excellent place to learn, with continuous support from our market experts!

???? Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.

???? Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.

???? Limited Time Offer : For just $0.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.

???? Ready to take the next step? Get your 14-day Trial in just a few clicks! Click here to start your Trial today!
Source:-forecast.com/stock-market/gold-miners-gdx-buying-dips-blue-box/