I think XAUUSD will test 1217-1219 again before heading back up.
From there, depending how it reacts to resistance, maybe a Head and Shoulders or if we're lucky, a breakout.
So I am having a hard time reading the Jnug chart right now. Aside from the extremely oversold RSI, the positive action today for Jnug, despite weakness in gold, suggests a pop may have begun today. But I thought maybe the regular gold chart might help me get a couple of ideas about Jnug price action in the short term. I am assuming that we are going to get a...
So lets look at XAUUSD. Gold appears to be in another AB=CD pattern. I overlayed the previous pattern on top of the current pattern and "voila" looks similar. The amount of time to the bottom previous is a little shorter than we are now. I suspect GOLD is near or very near the bottom. The cycle is on day 37. Gold has been lasting 33 days, so its extended. Look for...
All is on chart. Looking for a candle to close in or out of channel, and see what price action does here at .618.
Will use this to determine direction while scalping/trading lower time frames.
Use care, be safe.
With the break of the black trend line yesterday, that suggest that there is much more downside ahead for Jnug. I did not think this drop was coming so soon. I was thinking in a month or two. So I was wrong. But now it appears that we are in a downward channel. And I have a feeling we are going to fill at least the next gap if not the December low gap. The...
This is JNUG recently on the 15 minute. The blue lines are the current trend it has followed for a couple days. I have little faith in this trend. When my red SMA line turns green, it might be worth jumping in on a day trade, but this has been one of the hardest funds for me to find trends. Lot's of games get played with this ticker symbol.
Here is the one...
Hi,
The Junior Gold Miners Index (and the funds tracking it - GDXJ, JNUG) consists in 70% of Canadian Miners. Therefore, it is strongly correlated to the CADUSD.
Thanks
