Gold Miners & Elliott Wave

October 30, 2025 By in Elliott Wave, GDX, GDXJ, Gold & Silver, Gold Miners, Prechter, Retail Investor, ZeroHedge 5 Comments

Works Best Under Stress

Elliott Wave and Fibonacci are joined at the hip.

They work best when markets are emotional or under stress.

Historic moves like that of gold and silver, are such times (not advice, not a recommendation).

We’ve already seen Fibonacci count(s) operating in the financial sector here and here.

So, let’s look at the miners and see what’s happening.

Senior Miners GDX, Daily Close

Five waves down; the direction of main trend has changed from up, to down (not advice, not a recommendation).

Recall, as long as the wave structure stays ‘in-effect’, the target area for the counter-trend retrace is:

‘The previous 4th-wave of lesser degree’, link here (click on ‘Corrective Waves’ and scroll to ‘Depth of Corrective Waves’).

That area is indicated by the magenta oval.

While the potential corrective wave grinds higher, ‘retail’ moves in to buy the dip, link here.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279

5 responses

    • Thanks for the idea,

      I’m not opposed to anyone executing a strategy that works for them. Your suggestion could be thought of as a hedge position and that’s ok.

      From a personal standpoint, I continue to prefer positioning short (only), which at this December, will be two years of doing so.

      Nat-gas being the exception. We can see that it looks to be on its way higher … always with the possibility of that gut-check whack.

      If the gold/silver miners continue to exhibit Elliott Wave form (which I don’t use consistently), it could reach the target area sometime next week.

      On a separate but related topic, I just finished watching an interview at this link https://www.youtube.com/watch?v=Qp6S0Onz_iw&t=1665s

      The long-time trader says the ‘commercials’ are exiting (selling) the gold market. More background data to support a possible short.

      Thanks again,

      Paul

      Like

      • You remind me a little bit of tommy thornton. He usually plays stuff from the short side.

        I’ll check out the interview. I like listening to interviews when driving around in the car.

        I was also going to suggest going long PCT. It’s basically a short squeeze play but the fundamentals of the company are okay. Not great but okay. The short interest as a percent of the float is 32%. But I understand these things aren’t your style. But nonetheless I like sharing trading ideas. As always, I appreciate your thoughts.

        Liked by 1 person

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