I see a repeat of the previous patterns. Though it might retrace a little before heading to the upside. SL: 43.18 TP1: 46.5
Shorting juniors using long JDST. Trade will be invalid based on a daily close above the trend line. Tips: Don't use margin Trade with what you can afford to lose Expect extreme volatility try to get some sleep ;)
I will short gold. It will most likely keep going down to the trend line. Then comes an opportunity for gold to break the huge monthly trendline starting from 2011. SL: 1254 TP: 1235 ?The question mark?: On the monthly timeframe we see that the candle closes below the trendline and not actually over it. This still shows potential for it to go lower.
The miners are reaching a pivotal point that will determine the price pattern over the following months. In my previous post back in Feb, I provided a count and stated that the GDX would be bottoming at around $20 before resuming the bullish trend. While the count is still valid, wave (ii) has protracted longer than what I had initially expected as we are still...
Investors pulled out $800 million from GDX and GDXJ on Wednesday (4/26)!
Miners have had an amazing run for most of 2016, but now it's time to get back to reality. The over-all monthly trend is still DOWN, and markets don't turn around on just one bounce like we've had at the beginning of 2016. This retest is the bears trying to continue the bear market, will they succeed? I don't know; I'm here to make money, but I know they will...
The following chart presents an opportunity to go long on gold and miners if wanted. The pattern has already presented in several occasions, highlighted in green boxes.. I believe the rate hike has been priced in. We can observe such pattern in the following chart before a significant move up Observe how I detected the bottom the last time, breaking out of...
The current drop has many investors thinking that the long term correction in the miners is still ongoing. However, the current price movement is playing out more as a short term corrective wave (ii) of a larger degree wave 1 that should take us above $30 sometime this summer. I am currently expecting a bottom to be reached somewhere above $20 before the...
JNUG missed an opportunity for a bullish Exponential Moving Average cross up over the past couple weeks. Felt horrible for anyone (...uh...guilty) who bought in the late Jan/early Feb thinking that insane movement was THE start of another wild bull run like 2016. I've improved my average to $9.40 by buying in the $6's. Using the Fibonacci Extension Tool on the Dec...
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...
The miners are following the same bullish pattern as gold and silver, having resumed the bull trend as a wave 1 of an extended wave (3) which should take us to $30 over the next couple of months and very likely north of $50 over the next year. A drop below $18.60 would invalidate this count, though it seems unlikely given the current setup.
Stock exhausted!! LIFETIME opportunity in a miner!!
My initial target on this pullback was 1190, however gold has managed to regain 1200 as the $DXY has rolled over giving up today's gains. Longing from these levels may be risky, but the reward may turn out to be lucrative depending on the volatility and uncertainty during the transition of power in the U.S. government through Monday. President Trump's speech...
After Failing to reach 1220, gold is showing signs of short-term overbought. Don't rely on Yellen to talk gold up today as the $DXY is making higher intra-day highs.
Trump's recent "saber rattling" comments about China should send gold to 1220 over the next 48hrs. Today we've seen some demand from Asia pushing the price to a new high @ 1208. I'm loaded on $JNUG for Tuesday. I think there is a good chance to make a decent 10-15%.
Big cup and handle pattern on GDXJ. Trade at your own risk!
for those who follow cycles, here is my chart of the gold miners cycle. this chart forecasts that as of 1/12/2017 we are due for a miners cycle low in the second part of january 2017. this cycle will give us hints as to the Trend of gold. The current Daily cycle looks right translated (the high is in the second half of the cycle) and has gone higher than...
Break out trend channel. Going up in anticipation of USD correction.