GDX - Weekly Chart Cycles The longer cycles from the weekly chart are pointing down. So, a potential bounce suggested by the daily cycle composite is likely a counter-trend move. I only trade counter-trend moves when I watch the instrument daily and have a reliable EW count, and possibly scalp when I get cycle price projections. But as a general principle, one should look to take position when both daily and weekly chart cycles point in the same direction.
Published Jun 02, 2026Updated Jun 02, 20262 min read
GDX - Weekly Chart Cycles The longer cycles from the weekly chart are pointing down. So, a potential bounce suggested by the daily cycle composite is likely a counter-trend move. I only trade counter-trend moves when I watch the instrument daily and have a reliable EW count, and possibly scalp when I get cycle price projections. But as a general principle, one should look to take position when both daily and weekly chart cycles point in the same direction.
