Jnug to gold 4/07, still going according to plan
I was happy to see that wave 5 completed today. I was also unhappy that it did not complete yesterday like I was hoping. (I cant predict everything perfectly but only hope to get real close). What we saw this morning was the gap up for Jnug, a little more upside movement to complete wave 5, and then the start of our move down. The huge down move to 6.43 was wave 1 down, the pull back until close is wave 2. Wave 2 may continue a little while on Monday. Then wave 3 should occur on Monday and we should complete the 5 waves down by Tuesday. If by Tuesday, we are not quite down to the bottom of the wedge (approx. $6.10 - 6.08) then we might briefly drop on early Wednesday morning only to reverse hard and shoot up.
So I bought JDST today when Jnug was at the 7.26 range. I will sell my jdst when jnug drops to the low $6 range and immediately buy Jnug again for the new cycle pop.
I bet very few people had the balls to buy JDST or Dust after what happened last night and the gap up this morning. I saw everyone super bullish and calling for at least $8 for Jnug. I wonder what they are thinking right now after dropping so hard. Oh wait, I know what they are thinking......MANIPULATION!!! Ha Not.
I followed my cycle analysis and wave count and it worked like it was supposed to. (YES supposed to). Hard to accept for many. It almost seems as if all the news and other BS is irrelevant unless it supports/helps the pattern complete itself. That being said, I know that I will not always figure out the correct pattern or wave count. But I am on a 3 month roll.
Just a heads up *** Another thing to note that I have NOT figured out yet. The cycles shift from time to time. If you were to look at my cycles on the bottom part of my chart, and go back to middle of summer 2016, you will see that the current cycles do not work. I have not figured out what caused the shift and hopefully I see it when it happens next time. If I miss it then that could be a painful period of time.
By the way, I have an alternative red arrow drawn for the cycle drop in the middle of May. The reason I put that there is that during that point in time (end of cycle drop), spot gold should also be in its cycle drop. Like in February, when/if these two things correlate, the moves are very big. GL
So I bought JDST today when Jnug was at the 7.26 range. I will sell my jdst when jnug drops to the low $6 range and immediately buy Jnug again for the new cycle pop.
I bet very few people had the balls to buy JDST or Dust after what happened last night and the gap up this morning. I saw everyone super bullish and calling for at least $8 for Jnug. I wonder what they are thinking right now after dropping so hard. Oh wait, I know what they are thinking......MANIPULATION!!! Ha Not.
I followed my cycle analysis and wave count and it worked like it was supposed to. (YES supposed to). Hard to accept for many. It almost seems as if all the news and other BS is irrelevant unless it supports/helps the pattern complete itself. That being said, I know that I will not always figure out the correct pattern or wave count. But I am on a 3 month roll.
Just a heads up *** Another thing to note that I have NOT figured out yet. The cycles shift from time to time. If you were to look at my cycles on the bottom part of my chart, and go back to middle of summer 2016, you will see that the current cycles do not work. I have not figured out what caused the shift and hopefully I see it when it happens next time. If I miss it then that could be a painful period of time.
By the way, I have an alternative red arrow drawn for the cycle drop in the middle of May. The reason I put that there is that during that point in time (end of cycle drop), spot gold should also be in its cycle drop. Like in February, when/if these two things correlate, the moves are very big. GL
Comment:
So it looks like Jnug's cycle ended on Friday so I was wrong for it to end today I will be buying into Jnug on any decent dip probably after 930am pst.
Comment:
Jnug update
So I was surprised and disappointed that we did not drop today. So I have to consider a couple of options of what is going on. The first thought that has crossed my mind is, with the Syria thing, the Korea thing, and the Tax plan issue all upping the tensions, gold is finally breaking past the 200DMA to head towards the top of that larger wedge and in doing so is pulling miners with it a bit. (although Jnug was actually not very strong today). In other words, we might be experiencing a shift in the cycle like what I talked about over the weekend. The reason I am leaning that way is because, that one day drop for Jnug on the 7th, just does not fit right with an end of cycle sell off.
The second thought that I had was that due to the earlier reason I spoke of, that we experienced a running flat 4th wave and that yesterday and today were part of the 5th wave. So the next couple of days should tell the tale. Either way, if we are in a new wave 1, then a wave 2 correction would be a great opportunity to buy into Jnug. If this was just a late wave 5, then a slightly deeper sell of should occur. Ill be watching. GL
The second thought that I had was that due to the earlier reason I spoke of, that we experienced a running flat 4th wave and that yesterday and today were part of the 5th wave. So the next couple of days should tell the tale. Either way, if we are in a new wave 1, then a wave 2 correction would be a great opportunity to buy into Jnug. If this was just a late wave 5, then a slightly deeper sell of should occur. Ill be watching. GL
Comment:
Jnug update. More Chop. Hard to trade.
These are difficult times to trade when everything is relatively flat. But I did update my chart with the 50 & 100 DMA projection. This projection is obviously an estimation and will wiggle a little bit. BUT...if things continue as they are, you can see the approximate time period when the 50DMA should cross down on the 100 DMA. If you are asking what should be expected with Jnug when that happens. Well to get an idea, look back at what happened when the 50 DMA crossed up in early March. We made a very big positive move. SO it is reasonable to see a big negative move in Jnug ahead. We just have to get through this chop crap.
One more thing, there are three hidden bearish divergences on my RSI 5 below which I updated. That is part of the reason I have not sold my JDST yet. GL
These are difficult times to trade when everything is relatively flat. But I did update my chart with the 50 & 100 DMA projection. This projection is obviously an estimation and will wiggle a little bit. BUT...if things continue as they are, you can see the approximate time period when the 50DMA should cross down on the 100 DMA. If you are asking what should be expected with Jnug when that happens. Well to get an idea, look back at what happened when the 50 DMA crossed up in early March. We made a very big positive move. SO it is reasonable to see a big negative move in Jnug ahead. We just have to get through this chop crap.
One more thing, there are three hidden bearish divergences on my RSI 5 below which I updated. That is part of the reason I have not sold my JDST yet. GL
Comment:
I sold my jdst today for a small profit. I did not buy Jnug yet just in case the bearish divergence plays out more. But with all the crazy stuff going on over this weekend, I don't like holding jdst. I will wait to see something develope more. Without the tensions going on, I would feel comfortable holding jdst over the weekend.
Just in case you hear anything different over the weekend, Gold DID NOT, breakout today. What matters is not the move but where we close. And as you can clearly see, gold is going to close below the 200 DMA. In my opinion, we are going to reverse. There is also bearish divergences on the RSI 5.