week14 GDX Gold Vectors Miners ETF waiting at d1 right shoulder

This is a Gold-related asset, based on Gold mining companies. I am bullish on Gold in the coming months but Gold mining companies may have more room to move if compared to gold.
Hence I am using this trade in my first foray into actual holding of stocks with certificate.

I am employing the strategy of buying and holding, value investing, as opposed to my usual trading methods.

I will be setting aside a certain amount for no leverage investment.


Here price seems to be at historic low, with a bull flag emerging. Price could be at pt4.

week10 GDX gold vector miners monthly bull flag 050314


Price shot up, but now returning to fib6 for a potential right shoulder to be setup.
week13 GDX D1 IHS 250314


From h4 perspective, since this is a buy n hold trade, perhaps I should not be overly concern with trigger and just try to buy as low as possible

week14 GDX h4 perspective 020414


But as with all self respecting traders, a h1 trigger could be used in this trade.
Pending a 3 day bear trap may do this trade a bit of good. But too see real traction, perhaps a larger chart pattern may be required to push off from this potential right shoulder.

week14 GDX h1 potential 1234  3 day bear trap 020414


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