After the Yuan is added to the basket of currencies weighed against the USD, we will see one of 2 outcomes. A flat gold price will NOT happen, it WILL go up or down. The chance of it going up after it's addition is much higher than it going down. "It" being gold.
Looks like dollar on a weekly chart looks to form a head and shoulder pattern.
All is on the chart. Watching Price Action close as dollar and different markets open after FOMC for the first time.
SO, While researching DUST, I discovered a possible conflict for Jnug price targets. There is possibly another path, represented with the pick arrows and boxes. So here is my trading plan (subject to change as we proceed). I currently hold DUST, which I bought this morning (9/22) when I saw JNUG get rejected from the upper wedge. I plan on selling DUST,...
I see a dec no rate hike moving gold to 1380 to 1400, but looks like a consolidation might take place. Also dollar is gaining strenght
So I was bummed that gold took off after Japans non move. Oh well, Im still buying Jnug for the short ride up. Just a brief update today. I have slightly moved my arrows (price movement). I also included the Fuschia colored and black vertical lines to mark DCL approx. dates and the Black vertical line are what I believe is ICL bottoms. My Idea is that jnug...
we should be in a bull trend once yellen makes her speech, watching for no rate hike. Gold first resistance at 1340 next at 1380.
well, well, well...Jnug closed at $17.35! Right smack dab near my price target area of around ($17.50). And the week before it closed almost perfectly in the price target as well. So just to update, I think that Jnug will bottom around the $16.20 on Moday or Tuesday. Then with no rate hike, we will get a small run for a couple to fours days. I am looking at least...
Since my spot gold chart is too cluttered to post, I thought this JNUG chart may be a better guide. I use mostly Cycle analysis, and to a lesser degree .... Technical Analysis for price guidance, Max Pain Expiration, Cot report Tuesday cutoff, and typical seasonal movements. Oh and lets not forget the dependency on the data on the economic calendar as well. As...
One last upward breakout until Gold comes crashing down? Although most data suggest that the Feds will be raising interest rates this month. I somehow feel like Yellen is reluctant drive down corporate America (surprise surprise) and will be giving them one last ride until December.
Miners are coiling up ready for a big movement. Coiling into a wedge with high volume. You can see a smaller version of this patter happened at the end of August. It was a bearish pattern then, and I think it is a bearish pattern again. Gold is going down and the Dollar is going up in anticipation of a rate hike. I have no position right now, but I am ready to...
Wait for D to complete. Could be quick at that point the up to level of B. Overall, I'm short Silver but want some action so I'll trade this too.
Trading pullbacks off of the large decline from last week but here is what I am watching at a longer timeframe.
Everything is in chart. Numbers are rough but close enough. Sharing ideas, not trades.
Everything is in the chart. Complete 5th wave, correction to fib level. Turn upward in support of new bull. If correction is lower than 1303, bull is invalid. This is an update with larger timeframe of the earlier chart. Much is the same. The unfinished legs are for reference. The values of correction are close, the time will be off. The values of the next...
Making Flag to step Upside and break resistance 1330
I have two plans (bull and bear) but trying to work them both out separately but comparing them to other instruments I'm watching (US Indexes and Oil) make one less likely at the moment. If Gold is still bull long-term then this plan would be valid. We are finishing the last leg of the impulse wave (v) before it begins to correct. How low? No lower than the...
XAUUSD is going to lift itself upward until 1360-1366 levels, after then it might correct back to 1275 levels but it's hard to predict such a long time.