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 06.09.2025
GDX ended cycle from the 44.73 low as a 5 waves rally. Currently it’s doing a correction that is having a form of Elliott Wave Zig Zag Pattern. The pull back has reached the extreme zone at 51.87-50.74 area( buying zone) . 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)) black 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 50.74 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 06.12.2025
The ETF 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. We are looking for a break above 1 red peak ( June 5th).
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Source: https://elliottwave-forecast.com/stock-market/gold-miners-gdx-buying-blue-box/