Miners have been beaten down due to the downside in metals recently, with UJ and XAUUSD at a good point for a probable turn around I am long JNUG in the 15's price tgt $20.
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First tgt met 32.20, watch for break here for move to 33.XX's
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we have held now above the 32.20 area, next tgt is 33.20 area, gold is now confirming buy. Sit back and enjoy the pips
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MACD cross on daily gives us the buy signal on XAUUSD, $20 JNUG is right around the corner.
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I have sold all of my JNUG position at 17.40 from $16.00 to realize gains, price action in metals yesterday started getting shaky so I placed a stop loss at 17.40 to lock in gains in case it fell apart, which it started to until the health care new surfaced that Trump care was stalled again. Rather be safe then sorry and re-enter later, i am now awaiting a pullback from 1240's to find entry back in miners.
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second tgt has hit, i am back to cash on my miners play. awaiting a pullback and seeing if this run is going to continue as planned
Trade closed: target reached
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think we are becoming to top end heavy, 2nd tgt was reached and overall a good trade. Closed all positions at this time.
Good info. Almost looks like it's going to give it another run up
WalterWhitesMoney
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@gghsusa, agree, one must be patient with miners due to their volatility, but first tgt reached and now i believe we see the next wave in the high 33's and gold to 1240 next. Gl
lantao517
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Do you think bottom is there already? I mean yesterday lowest 1204?
WalterWhitesMoney
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@lantao517, I did believe so, at least on this current run hence the trade plan. Gl
lantao517
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@WalterWhitesMoney, Thank you WWM, I followed Arpi's analysis who can for one more final down leg, how do you think abou tit
WalterWhitesMoney
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@lantao517, possible to see another leg down, to me 1216 is important for bulls if it holds to confirm up move and 1226 now important for bears if it breaks they should think about covering