SO I bet many people were wondering WTF is up with the price of JNUG if gold broke out the last two days. Well the answer is that the cycle for miners is coming to an end and there is usually a little pullback during the bullish times and a huge drop during the bearish times. *(look at miners from 11/14 to 12/08 and see what the price action did compared to spot...
Gold is rallying after breaking out of the strongest local resistance level (red box). There is a new uptrend continuation signal that got triggered yesterday, and I reentered longs on the breakout. Currently in profit, and looking to trail stops and add if viable. Keep an eye on the developments from here onwards, it becomes extremely interesting the higher we...
Jnug: last days analysis. Bullish till other signal. stoploss area: 10.50 New positions: Dont at current level Old positions: Hold
All is on chart. Watching "b" complete at least 50% but no more than 75% of "a". Then, if "c" is 100% of "a", I'm watching 1242 thru 1245 (depending on "b"). Note, I have the start of Minute i as my invalidation and will long. Conversely, 1217 is confirmation to the short. Trade what you see, this is just what I am watching. Good luck.
All on chart; just for review while trading. Nothing is too extended. 1.618 on wave 3 and 5. Obviously this can change as previous waves are settled upon and known. Alternative is in Grey.
What will happen at the .25 fib? Will we confirm the new Bull Market? I'm not sure but i'm confident we will find out. If I were to take a guess, I would say up. Of course, my chart skills are still fresh and I most likely have it all wrong.
My current JNUG trade. *I am a rookie so trade with me at your own peril!*
I'll keep this short and sweet. Until spot gold break through that large green area that I put on this Spot gold chart, then it is still possible that we are in wave 4 and not in the start of the 2017 bull run. However, I am not so sure how low it could go being so so late in the cycle. I put up the possibility of a head and shoulders pattern that could...
Since our macro bull call following a Fed rate hike, #gold is up 8.6 percent. Since our #TrendFlex alert on 1/13, XAUUSD up 2.55 percent. Gold finished strong last week as price action climbed higher and narrowly missing our R2 level of $1,248 – achieving a weekly high of $1,246.6. Despite the strong sentiment around global equities (primarily fueled by retail...
All is on chart. Good luck.
After last week's auction which sparked US yields to rise it was obvious that a GDP miss in Japan would fuel US yields to higher intra-day highs. $US10Y and $USDJPY are closer correlated than $DXY and $USDPY because Japan is the largest holder of US Treasuries. Keeping all this in mind tomorrow Yellen will likely pivot back to hawk triggering gold to dip back to...
Targets are based on short. All on chart based on wave measurement possibilities. 1244 will invalidate current wave pattern and will post alternative. Watching price action in case it goes above wave 4.
The similarities to the move from last year is pretty recognizable. We consolidated around 7-8 and have moved up to 12. This year is a little higher than last year, but I see us in wave (3) of (5). Wave 5 should take us back to 17-18.5, filling the gap at 16.52 (highlighted by red arrow). I hesitate to say it will be exactly like last year, but so far, the...
The inverse h&s neckline is being tested in the handle right now. A brake of green descending TL from previous range would give immediate TP of 1.03 (top of cup). IHS extension target is 1.15. With break of 1.03, I expect a move back to bottom of range from 2014 at 1.24. Longer term, cup & handle extension would give 1.64, but that would require a massive move...
D is short of (3) target of 1.618 Otherwise, all targets on chart in green. See other charts for just the Elliott Waves.
All is on chart; watching as Price Action gives a clue to direction and patterns to identify. Targets measured and showing those with options TBD.
All is on chart. Always trying to watch the bigger picture with Fibonacci.