I never do charting in the 3x ETF ... The only thing I'm watching is the volume . Volume often showing when smartmoney is positioning for a miners rally. Yesterday's volume is extreme. I think some of the big banks was buying yesterady 's miners breakdown and they did it in the 3x ETF JNUG. I want to buy with them.
The situation is the same like GDX. The junior miners broke below the 200 SMA and starting to bounce out of the false breakdown. Same RSI divergence, MACD is close to cross over. It's a buy with a stop below yesterday's low.
Despite the good NFP data gold is bouncing. If you watch closely the GDX chart yesterday we broke below an important support of 20.25. As of today it should have become a resistance instead of a back test we are above 20.25 again. In my books it's a false breakdown. We not just closed the gap but broke below the 200 SMA. The chance is extremely high that the...
2017. July : Gold broke an important resistance of 1216$. Before the panic selling could have started, Kim Jong Un's nuclear test and missile launch over Japan stopped the panic selling in gold. Gold was forced into a shorter intermediate cycle that summer. The next intermediate cycle was extremely long. It lasted for 177 bars. Our current intermediate cycle...
And one more idea for the extreme sport lovers. If you want to trade GDX but the normal leverage is not enough this is the adrenalin you need. NUGT printed 1000% gains in 2015-2016. Every intermediate bottom in the miners is a new chance to make great gains here again.
I don't want to go into this before we get a daily signal for a long trade but I want to give a chance on the smaller time frame for a long entry. The idea is simple : if the intermediate cycle bottomed last week Tuesday at 1266 $ than today's drop is just the back test of neck line. If we close in the green the daily chart will also give us a signal for a long...
I'm coming back to you in this idea with an old friend : Natty, alias The Widowmaker. If you are a day trader just skip this idea because I definetely not going to trade in out everyday. If you don't want to roll over the contracts just skip because I might be sitting in the position until November. Maybe more.. I’m trying to catch Natty's multi year cycle low ....
We are getting closer and closer to an important buying opportunity in gold miners. Though yesterday we almost tagged the 200 SMA and bounced I still don't see that buying opportunity what i like to see at the gold miners bottom. At the beginning of today's trading we broke above yesterday's high which is usually a buy signal but after a few hours of trading we...
The 200 SMA played an important role in oil's past history during tha last few years. This call is going to be based on the scenario when oil tags /marginally breaks the 200 SMA and drops into its daily cycle low. The daily cycle is very mature, I already closed my longs last week. From this point it's definetely risky to hold any long positions before we have a...
It's always tough to make a correct call ahead of FOMC meeting. Sometimes the FED is setting the direction, sometimes the next day all the currencies and metals are reversing. This was the case yesterday too. All the gains of Wednesday were dusted yesterday. Now gold's daily chart looks like a flag to me : it's just waiting for to break down. It's still not...
Taking some awful chances in this idea. The daily cycle is very mature, we are on day 47. We bumped into the resistance of 2820 again which is a multi month resistance. It's the 2nd time that we were unable to break above it. MACD crossed over, RSI 6 had left oversold condition and just needs to break below the red line ; and SlowStochastic has a good cahnce to...
If SPX is going down there is a good chance that VIX is going to print a big rally in the following 2-3 days. It's never a good idea to sit in TVIX and wait for a bounce. You need to time almost perfectly when it is starting to run. VIX can easily print x2, x3 prices. I suggest an entry here at the inverted hammer. Stop can go below today's low...
After Friday's drop most probably we are going to consolidate for 1-2 or 3 days. The reason: 1. We had a Bollinger band crash signal. During a correction followed after a bull market a Bollinger band crash signal often signs a temporary bottom. 2. We are having the signs of the daily cycle low : RSI in oversold territory, SlowSToch in oversold territory too. 3....
First of all this is not a short idea. I'm already short in a previous idea and waiting for gold to bottom before closing. This idea is summarizing what happened during the last half year, and I'm trying to predict a price where gold bottoms in the next 4-5 weeks before breaks out of this multi year consolidation. Remember that we are starting the times of...
If we can close here it means we broke out significantly of the range . As I was waiting for in my previous idea we needed to consolidate a little bit in this range - testing the upper and down trendlines before breaking higher : RSI just tested back the 50 line and MACD looks like a "Kiss and goodbye". So it will not crossover just run higher after the...
We have an important ECB meeting today. Probably this is one of the last chance for Draghi to weaken the Euro before the ECB starts its rate hiking process. The strengthening dollar will push gold down into its final correction before gold's multi year basing pattern breaks to the upside this summer. The triangle broke down and we are testing the the lower line...
Though AUDUSD is still in the down channel it's started to form divergences. Price dropped below 0,71 but was not able to tag the channel's bottom. I'm afraid it can't drop to 0,7 so I'm starting an initial position (50%) . If it drops to 0,7 I will add the other 50% if not I just trade the bounce with a 50% margin impact.
In 2017 January I called the breakdown of the giant flag in the USDCAD. We have a similar situation here. After the previous flag breakdown - June 2017- price was trending in a channel. We had 2 false breakdowns from the channel. Before the last one price tried to recover above the 100 SMA three times but failed. Now it seems we are just crawling on the 200...