I was too focused and zoomed in on my little wedge to see the bigger picture. I think what just happened is a larger zig zag B wave just played out. I measured the drop from the 1st part of the B wave and as you can see(purple price measurement), this latest drop is just about a perfect measurement. I think we are done now. I am expecting Jnug to start the C...
I have had a difficult time figuring out what to discuss. NOTE** None of what I say below will matter if there is a war with North Korea in the next week because gold will shoot through the roof. But I have a feeling that Trump worked out a deal with China and dough boy will back down. That being said, I do believe that the cycle for Jnug has shifted....but...
All is on chart, Micro wave 4 possibly pulling back to test top of channel. Then, finishing at 1, 1.62 or 2.62 of wave 3.
Then, expect a correction before more upside. Or more sideways as we've had for weeks.
I was happy to see that wave 5 completed today. I was also unhappy that it did not complete yesterday like I was hoping. (I cant predict everything perfectly but only hope to get real close). What we saw this morning was the gap up for Jnug, a little more upside movement to complete wave 5, and then the start of our move down. The huge down move to 6.43 was...
Going long here with the inverse fund JDST. I believe Gold is at a high and will fail shortly. Gold can't seem to make new highs, and the miners have been weak for weeks. With GOLD pushing higher and miners losing value, its a typical sign of a top. JDST could drop and retest the lows, but I doubt it. Going higher.
There is really nothing to update this weekend that I see. For once I was bummed that price settled in the blue box. The price target for Today (Friday) was approximate 6.50 and if you include afterhours, then we closed at 6.53. I would have like to have seen it close at near its high. But oh well. I am still confident that Jnug will continue to go up for...
It was correct that gold had a few combos to push time out via abc xabc to wxy and show us a better and hopefully final Minuette Wave 2. Wave iii should be 1.618, 2.618 or 4.25 of wave 1 so our first target is 1274. This is wave 3 inside Minute's wave 3 so it should contain some big moves. Look for a 1h channel breakout and the upper may provide a test...
Watching gold as we moved so far this week with low vol. Some Asian markets were closed due to holiday but no change today but slight increase in vol. FOMC tomorrow so market could be cautious yet my trades are 4h and higher so not too worried other than to say I am long, stops a few dollars below bottom channel... under where 4th wave would be considered deep....
