Look, the S&P500 is going to be retracing back down, market sentiment for the end of Q1 put us at a high that has not been seen with stocks since the recession. Q2 is calling for a retrace, and market sentiment shows that gold is rising. It's time to hop in on JNUG and HOLD it. Stop worrying about daily fluctuations, think about the big picture. I am hoping that...
XAUUSD might be forming a Head and Shoulders pattern. Sell on breakout. Cheers!
the 4-hour chart seems to have reversed...
The final day of the month, finishing Trump's first quarter. If the markets push for a positive close, I'll hold these shorts to finish once wave 5 starts and we break the original downward hourly channel. Here I'm showing on 4h since it's a little cleaner of the lower TF noise. RSI can print a higher low even if PA prints a lower low so I'll keep an eye to see...
Gold is looking terrible. staying short until reversal confirmation
Details on chart, refer to DXY and XAUUSD as well. Trump lost health bill, people loosing faith - Dollar down, Gold up. Technical: we're in a beautiful wedge here - almost identical to early January My target 7.20 - 7.5 for tomorrow - possible breakout in the next days.
All is on chart. I'll post hourly updates. This is mainly a reference for me and my trades, track success and failure, learn, etc.
Jnug Daily Chart The price action today was right in my little blue box so that was just about perfect. We retested the 10 DMA and closed below the 20 DMA. We still have two more days for the COT report (which cuts off on Tuesday), so I can easily see Jnug drop to the lower pink line. But I gave two ideas. The first pink line is an exact measurement of the...
a couple of resistance at $1250 and then $1263. hopefully, we will get through with all the volatility in USD and market nervousness
Gold is going up to test the middle of the channel, resistance & previous high. I think it will get rejected and be forced to test the bottom of the channel. From there, either a correction or a new high in short time
Ok we have one inv head and shoulder that has fired and completed. Now we have definite possibility that another will fire
bullish- signs 50 day MA crossing 100 MA. MACD looks bullish and daily RSI at lows
All is on chart. Opportunities in both directions. Will post supplemental charts daily.
Gold seems to have started an uptrend after the the interest rate hike. as expected in the previous charts.
$GLLK is currently following $JNUG and the Gold Index. Fed will raise rates two more times this year setting gold up for a massive run. Just like MJ stocks its all about timing and now is the time to get in early.
Jnug Daily Chart Well that move down this morning hit my target perfectly and bounced. I am wondering, however, will it drop just a tad bit more to touch or even intraday overshoot the 10DMA. We did not hit it yet. It turned down as price dropped today. And the 20 DMA is screeming downward. I feel we will be squeezed in between the 10DMA and 20DMA for next...
Just wanted to share. I feel 4th is complete but will know soon. 5th wave depends on 4th for measurement (100%, 1.62%, or 2.62%) but here I show a shallow .236 for 4th wave which would now be complete. It could possibly go to 38% or 50% of 1st wave. I do see a possible right shoulder developing so I'm keeping an eye on it, and placed rough idea of target too.