Close enough for me. I am buying JNUG here. If it goes to $9 so be it. I think the ICL is so close here. Once in place this stocks will rocket higher. The USD just kicked the upper trend line and hopefully reverses is one reason. The RSI is very oversold and moving higher!
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The US Dollar has a star pattern on the daily candle. This can indicate a turning point. Gold was down today and JNUG was up 6.5%. The US Dollar was negative today as well. If the USD starts going lower on Monday and Gold starts going higher we could have made a perfect entry. Fingers crossed.
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Our trade in JNUG is working out. Look for JNUG to follow the gold candles on the chart. Our BUY at $9.70 Was very near the bottom. If this is an ICL in Gold we should have several months of positive returns. If its only a DCL then at least 2 weeks of higher returns. Looking Good
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More follow thru this morning. We should be off to the races now.
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Similar pattern forming in gold now that formed in July August last year.
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Watching this GDX wedge playout. Breakout or breakdown, we should know soon.
Trade closed: stop reached:
I sold my JNUG Yesterday morning on the start of the miner sell off. I really don't understand how gold can be up and miners down. I think the US Dollar will hold on until after the elections and then we will get another chance at a big run up..
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Playing out well, took a long time to get going, but should be a good trade
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Is XLU a precursor to GDX, if so starting to get some buying.
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I think GDX is very close to the bottom. I see the gap getting filled from April already. Usually the RSI bounces a few time before taking a move higher. Very close to 61.8% Fibo. I think miners will lead gold again. I believe Gold will have one more slight drop before it moves higher. Just my 2 cents. Time will tell.
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Buying NUGT here
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Pennant pattern filling. Look to buy at lower blue line
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GDX has a relationship with XLU. Can you see what's happening now?
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Flat bottom triangle forming. Typically a continuation pattern. Be wary of a break lower.
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Shhhh! This could be the start of what we have been waiting for. Possible breakout.
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Looks like gold has bottomed. Check out the H&S pattern on the 30 minute chart.