And everybody knows what gold likes to do at the start of a new year. Current fall channel will collide with primary channel and 200 day moving average, sometime in mid December.
Gold looks like it's about to make a new leg higher but will it also drop 5-7% first? The dollar and gold tend to create very distinctive price cycles if you know how to look for them. Renko helps to see these price cycles and time seems irrelevant to them. I am seeing a cycle low in the works now but I'm not sure if it's complete yet. I will venture to say...
Gold is zooming. Why? The DXY. As we can see on the monthly DXY chart, the developing pattern parallels history. 1. It bounced off the 200 EMA 2. It broke trend, retested, and failed 3. It collapsed The RSI and MACD are weak What happened to Gold last time DXY collapsed? Trading Signals Buy Signal: Weekly RSI lows Sell Signal: Weekly RSI...
Gold (USD)- Bullish falling wedge. 68% of eventual upward breakout from falling wedge. For further details, please see below link: thepatternsite.com
For now, I am labeling this as 1 - 2 down. In comparison to the $Gold index, GDX held pretty good, retracing only down to %62 area. Metals have some head wind though, like the rising yield and $dollar. This week is going to be interesting.
This is what I expect for the next three months, and this is what I am betting. 1) If the Impulse has the same momentum as 2019, target in length and strength will led us to 82 at the end of January, and Gold about 2.200 $ 2) If the impulse has the same momentum as 2020 (summer), target is 78 or so at the end of the year. There is no so much difference in both...
EARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS: WKHS (18/146/38.8%),* Monday, before market open. PLUG (32/100/25.6%), Monday, before market open. DKNG (32/89/23.6%), Friday, before market open. CGC (39/132/23.5%), Monday, before market open. BYND (32/77/18.9%), Monday, after market close. LYFT (16/71/18.0%), Tuesday after market close. Pictured here is a...
Lets see... If it rises to the top of the channel. That would give it a whopping P.E. of 14 Not bad considering earnings growth of 25%+ over the next 5 years Also nice dividends... Most of the miners should be bought on any and all dips...
Top of current multi-week trend (major) .786 fib of current retracement (major) Rsi divergence (major) Double top? (major) Democrats win more than expected (major) .618 of previous multi-week trend(minor) .382 of 2016 fib (minor)
EARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS: ... Screened for options liquidity and 30-day implied greater than 50% and ranked by "bang for your buck": ROKU (38/31/16.4%),* announcing Thursday after market close. WYNN (27/76/14.7%), announcing Wednesday (no time specified). SQ (43/74/14.3%), announcing Thursday after market close. PYPL (56/60/11.6%),...
As long as the market doesn't crash. Because that will temporarily bring us out of trend.
I would like to share my thought about our current stage, as things seems to go wrong. 1) So far, the long term view has not been damaged. That means, I still see a new up leg. The base, that means the consolidation, has taken more that I thought. So It went out of the two parallel lines of the channel. So as it is said: the larger the base, the larger the...
$nugt $dust $gdxj $jnug $jdst $slv $gld Renko is not playable in published ideas so I'll update this chart. My last post got little attention and I've been warning people about a sudden drop in gold, silver, miners. We're setting up a new buying opportunity but how low does it go? I would like to see GDX between 28-32. Hold fast.
EARNINGS: If you like to play earnings for volatility contraction, there are a ton this coming week. Here are the ones that made my cut for volatility contraction plays based on options liquidity and bang for your buck as a function of stock price: TWTR (49/73/15.9%),* announcing Thursday after market close. MGM (16/69/15.2%), announcing Thursday before market...
Looking for GDXJ to break above 60 for a potential bull breakout with a target around 90 Or, a breakdown to the 200 day moving average to 42 to 48. It's harder to predict this bottom because of the expected upcoming volatility, so buy orders spread throughout this lower range is a good strategy to catch some (if not all) of that bottoming activity before the great...