I''ve been Bull for some time now and discovered this wedge in JDST forming. Not saying XAUUSD won't hit higher highs in near future but a correction may be coming to be. I'd advise to wait for wedge to break before hoping in, if at all.
buying this bear ex etf again
Sure looks like a break out to me. Pick up some JDST as gold and miners drop into the next ICL.
Consolidation complete. IHS and bull flag suggesting another leg up. Targeting 17+. Would love to see test of last month's highs above 18. Gold looks like ready for a 1450 test, possibly even as low as 1413.
JDST looks to be bullish, making higher lows in the recent weeks. Couple reasons why I think it's on the uptrend: - Phase one of the China trade deal concluded bringing some stability to the world economy; generally this should reduce the demand for gold, lowering prices and increasing JDST, a gold miner BEAR. - Gold prices have a very strong resistance around...
Pending a breakout of the presented wedge you may be able to correctly time when to bet against gold once more.. I wouldn't be too confident that this pennant wouldn't collapse out the bottom which is why i recommend waiting for the fall wedge to break out a bit, but anywhere by the value box I've drawn could earn you some easy trades. Goodluck
End of the current JDST trade. Got right up into that 34 day ema and closed right below. Great 30% swing here. No solid break or close above so sell to take profits best idea. Love the gold plays on the 3x lev's.
Two day swing held. Still looking a GLD and /GC, i think we can push to the 34 day EMA. Alkost a 30% move if so. Golds slightly easier to play than most. Everyone should have a gold.play in their bag.
... and the junior miners will not be an exception too... If the sector is going down the juniors will drop too. We have the same indicator divergences: GDXJ was underperforming in this intermediate cycle. While GDX almost tagged the 2016 highs GDXJ was not even close to it.
Broad wedge keeps going lower as Gold Bulls feast on their road to 1485 (my original target). At this point, I believe layer into a position to hold for months on end is smart.
Looking at this Inverse ETF in Gold I see potential weakness which is enough for me to want to hop in a short and hold it until it's in profit. Layering is key for these set ups and also knowing that the div isn't valid yet but I'm betting RSI will retract.