Over 82 million shares were traded in the triple leverage gold stock ETF (NUGT) on July 17, 76 million in 40 minutes, which is about $1.7 billion worth. This is triple the previous record of 27 million on December 15th, 2016, after which NUGT doubled in two months. Long?
Spent a silly amount of time on this. Every Combo pattern seemed off until I came across this one. Wanted to focus only on Elliot Wave Theory. I'm trying to learn more about combination structures WXY and would welcome an expert opinion if any have one. There's some sort of double corrective structure going on here in Silver, I can just smell it. But can't put...
Blue box will be deciding factor for Gold in long run. I don't think this recession Gold is going to go up, unless it breaks the trend. In the last 3 recessions (1990, 2001, 2008-9) only the 2001 recession saw a gold rise, and even that was not too impressive. On a longer time span, there have been only 4 instances in the last 100 years where gold rose prominently...
As always, I try to keep the larger picture in mind. This is a very interesting overview.
The timing on the GOLD chart XAUUSD is certainly right for a major reversal. Could happen any day, when it does, it will be very rewarding. JNUG and NUGT should really run higher.
Just buy physical Silver here, and close your chart. Come back in 5 years and flip your silver to gold. Repeat that process by flipping back to gold once the ratio hits 80 again, I'snt it easy? You've just found yourself a trading strategy for the rest of your lives. You dont have to trade a lot to achieve the same returns as the actively managed funds out...
Here's my 2 cents on the miners. Based on the last 7 months or so, it looks like we had 2 cycles and are currently in a 3rd. They range about 109-137 days. In each of these waves you can see three minor waves. If we are currently in the 3rd wave of the 3rd cycle then I would expect it to be LT and drop fairly soon. It shouldn't take out the highs of April unless...
XAUUSD is highly possible to breakout of a bullish flag. Target is about 1360. Cheers!
Nice Breakout from Triangle pattern. Looks to go to target of 19.00
XAUUSD is finishing up the Bump phase and about to break out of the downtrend to start the Run phase. Cheers!
Just a little update to how I am currently seeing gold price behavior and the pattern that lies ahead. It makes sense. This next push should bring gold up to the $1400 range and then be the end of the large B wave. You know what comes next right!? The big C
Going to buy some puts. Looking for jobs as an analyst.
Dollar support area, bull divergence, and possibly #6 of a broadening formation (megaphone). Will it be enough?
Well here we go again. GDX is at the lower side of the trading box. A buy here with a stop directly below should produce a good risk reward trade. It won't be a straight line higher, but could reach the top of the box eventually.