Direxion Daily Junior Gold Miners Index Bull 2X SharesArca
Description
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Someone asked me to chart JNUG . Here is the outcome. Please see the JNUG - From Outter Space - Part 1 of 2 chart at bottom of page for longer view. I am not currently in this position. THIS IS NOT READY IN MY OPINION - BUT CLOSE
Daily view confirm bullish pattern correction incoming. Blue wedge is bullish pattern by itself. RSI trend confirms breakout should occur. Trend filter dots confirm bullish trend is next.
If I were playing this trade, I would wait for price to fill tip of blue triangle. If it breaks into bottom gap, add to position partially. If further breakdown into far bottom gap, add rest of entry. If no breakdown into bottom, your choice to add at blue wedge breakout or wait for confirmation at yellow wedge tip. Further analysis is needed as time progresses to see possible outcomes.
Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY. Short SPY and AAPL.
@MoneyPatterns, you know why the gold miners had a pull back when gold prices were on a rip today? Is it due to the spike in oil prices? Hurting the gold miners operation costs? I don't get why JNUG and NUGT sh*t the bed today when xauusd was heading to the moon...
MoneyPatterns
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@ericlee120685, Full story -realvision.com/tv/shows/gold/videos/investing-in-gold-miners-vs-investing-in-gold My opinion from the story - Gold is worth money because its already mined and in your pocket. No middleman needed.
JNUG, NUGT, GDX, GLD are all gold miners where poor management, conflict, shipping cost, blah blah excuses make the cost go up for the company.
One-World
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Salute! Really appreciate the charts and thoughts! It's interesting to look at both its short and long term trends. Outside of technology, sometimes economy policies or international relations may influence its perform, too. Something I'd share is that I currently hold 2 portions, one for long one for short cuz I look forward to its next breakout next quarter or so and its volatility. Good luck if you'd add it to your watchlist :)
MoneyPatterns
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@piscitear, You're welcome. If I enter any position, I am fairly regular about posting what I am in.
Thanks for the idea. Looks to be ready soon. I will watch it.