Holding only til Tuesday, will buy back after fomc
This is nothing really related to the chart analysis. Earlier this afternoon, Brainard had her dovish speech which stopped the bear gold for now. I was doing some scalping on JDST (bought in at $25 and sold at $25.5, around 11 am central time) By that time, gold was dropping from 1324-1322, theoretically, $JDST should've rise a bit. But no, both JDST and DUST...
Almost a complete capitulation here... giving another try. Possible technical breakout, with tight stop loss...
The monthly trend seems to favor a shift against gold, particuarly with miners etfs such as jdst + dust.
rounding bottom pattern/ cup & handle
Observation only: Not trade recommendation Disc. I'm long
Key level in US dollar here... GDX: Limited upside until first resistance level. Longing JDST here without planned stop loss... Miners are pretty overstretched with JNUG +800% over 4 months.
til a confirm break of $1244 gold 23.6 fib support which is threaten to be taking out. will not hold over weekend
breaking out from descending wedge? I been scalping all morning both gold & jdst. bought $jdst below $17.80 sold for $18.74, went long scalp at $18.87 which currently showing as support.