Wow exceeded Friday's prediction of $23.60, almost hit $24. Looks like DUST needs a Pullback... let's see if it goes back down to new target area. I like it when I guess correctly :)
I think the downtrend resumes based on the Triple Top, it couldn't close above 22.50. If so, I could see it moving down to 21.30 or as low as 21.00 area.
Watching possible breakout here near 1315. Overshoot? False or are we testing the breakout to see higher highs? Keeping this in mind too:
Today was a big deal to me. North Korea just fired a missile over Japan causing gold to spike and that is good enough for me for this breakout. So the question for those that are in JDST or Dust is how to get out. We will have a daily cycle low very soon. I expect gold to drop back down to the 1270ish area and retest that long term trend line for the end of...
Although I am longer term bullish I am intermediate term bearish and short. I think the sideways triangle is very likely complete with wave "e" going to .78 of wave"c" then reversing intraday for a bearish engulfment candle for the day Would not be be surprised to see it open lower Monday then bounce to retest Friday's high but fail. If price goes above "c" then...
NUGT and the mining sector GDX, could be a buy here. The sector first started moving higher last week, now a pullback to support at the SMA. Also looks like a copy of the previous run higher (see the gold candles). Im buying some here, I will sell if tomorrow is a down day. NUGT is 3X so you have to protect your cash.
GOLD ! That was a huge let down bearish reversal candlestick on Friday with huge bearish volume. This is not breaking out this time. These banksters are wicked evil when it comes to setting everyone up to go long. But I did not fall for it. I believed in my cycles and we are just too late for a breakout rally like everyone is talking about. We will drop until...
All is on chart. Might not reach this level (D) if the major down trend holds. If it breaks, look for D or might be small pullback before larger bull or false break out and we see and down turn.
All is on chart. Will post hourly charts during the week.
Before I get into it, I just wanted to say, isn't is funny how this dumped? Remember how I was saying that big green volume spikes have usually meant that Jnug was at or very near a top. Its not 100% that way but its like 95% of the time. Good thing to remember. So I have been really trying to find the cycles for Jnug. And I am bummed to say that I did not...
Fairly obvious the US Dollar DXY is rallying here. Will probably last a week or so. Im taking a starter position in DUST as a hedge against my NAK position.
All is on chart. Looking for possible pullback. 1255 area is key.
This is a important week and especially Fridays economic reports. I can see a case for both Bullish and Bearish gold. Being so close to that trend line again, it would seem safe to wait before making any bets. But I am still leaning bearish. One of the reasons is because of technical, but an even bigger reason is that the dollar has been dropping hard for the...
XAUUSD is forming a head and shoulders pattern. Sell on breakout. Cheers!
These two markets look interesting together because of the similar price action. Notice how rice was in a descending triangle followed by a breakout. These are typically bearish patterns, but not always, clearly. I believe platinum is in the same consolidation phase before it breaks out. Notice it took rice approximately two years to break out from its established...
All is on chart. Are we finishing 5th wave? Watch for channel break out for direction change.
The USDCHF is poised to rise as it finds support at prior resistance. In 2011, I believe we started Elliott Wave 4. If I am correct, then USDCHF has very much further higher to go. Gold and oil should fall from here.
XAUUSD has just completed WXY pattern and is heading for lower levels. Cheers!