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Jnug to Gold 3/31/17There is really nothing to update this weekend that I see. For once I was bummed that price settled in the blue box. The price target for Today (Friday) was approximate 6.50 and if you include afterhours, then we closed at 6.53. I would have like to have seen it close at near its high. But oh well. I am still confident that Jnug will continue to go up for most of next week. However, special attention will be paid to when I am planning on selling in order to buy in to JDST for the end of cycle drop. I feel that Tuesday the 11th will be the last day of the cycle. (I know that is a tough call). So if I want to get into JDST for the drop then I have to sell my jnug early enough for that 3 day settled funds rule to not bite me in the butt. So assuming I am correct, I would have to sell my Jnug by next Thursday in order to not get hurt holding JDST with the new cycle pop. So that's it, nothing has changed since my last few posts. Everything looks pretty darn good. GL
AMEX:JNUGLong
by SalN
46
Gold finishing 4 or starting 5? Watching gold as we moved so far this week with low vol. Some Asian markets were closed due to holiday but no change today but slight increase in vol. FOMC tomorrow so market could be cautious yet my trades are 4h and higher so not too worried other than to say I am long, stops a few dollars below bottom channel... under where 4th wave would be considered deep. 4th are usually shallow but will hedge/scalp short if needed to cover. Updated channel if iii complete. 4th targets are listed, .38 and .50 along with v at 100% and 168%. Good luck, have fun, be safe.
FX:XAUUSDLong
by AlphaDreams
Friday, Gold, Watching main short channel.The final day of the month, finishing Trump's first quarter. If the markets push for a positive close, I'll hold these shorts to finish once wave 5 starts and we break the original downward hourly channel. Here I'm showing on 4h since it's a little cleaner of the lower TF noise. RSI can print a higher low even if PA prints a lower low so I'll keep an eye to see what is really happening and for when/if the turn is near. Not a trade, just what I'm watching for my trades. Currently I'm short from 1258, 1253...
FX:XAUUSD
by AlphaDreams
Jnug to Gold "BBands are tightening, big move in two weeks"Jnug Daily Chart The price action today was right in my little blue box so that was just about perfect. We retested the 10 DMA and closed below the 20 DMA. We still have two more days for the COT report (which cuts off on Tuesday), so I can easily see Jnug drop to the lower pink line. But I gave two ideas. The first pink line is an exact measurement of the first part of this zig zag move down. If that is all we get then I could see Jnug reaching the $7.90's (100 DMA) by the end of next week. But it really isn't too much at all to see Jnug fall to the lower pink line in the next two days. At that point I would be looking for Jnug to rally to that resistance zone that I highlighted and possibly topping out at the $7.75 range. That would be about a 34-35% move. Either way, I would sell Jnug and immediately buy JDST because as you can see, the cycle will be coming to an end around April 10th. So that means Jnug should drop that last week. The BBands should be nice and tight at that point, indicating a big move is about to commence. Interesting how those BBands are coming together right when the cycle ends and a new one begins. This should break Jnug out of the orange wedge and into the larger wedge. I think we will get a really big move at that point but it should only last 1 to 1 1/2 weeks. The reason why I say that is because the daily cycle for spot gold should end sometime in middle May. So I am expecting spot gold to have rolled over by then if it doesn't already start this next two weeks. Oh and another thing to point out. If you have not noticed, the 50 DMA has started to turn down and is really not that far away from the 100 DMA. If they cross, look out below. I am going to take a guess that they cross in early May. I left my indicator as neutral because I do think we will drop for only two days and then run. GL everyone. lets hope I am correct again.
AMEX:JNUG
by SalN
7
Jnug to Gold "Everything is moving according to plan"Jnug Daily Chart Well that move down this morning hit my target perfectly and bounced. I am wondering, however, will it drop just a tad bit more to touch or even intraday overshoot the 10DMA. We did not hit it yet. It turned down as price dropped today. And the 20 DMA is screeming downward. I feel we will be squeezed in between the 10DMA and 20DMA for next week. I think that early the following week, jnug will breakout of that sqeeuzed zone and move to the upside for a jnug Wave c move. As you people may have noticed, jnug and Gold are not moving up as powerfully as the last two hikes. This move is not finished yet and I may be speaking too soon but I am getting that sense. It is almost as if the hikes are losing steam. However, I am still counting on a C wave move up to the $9.63 range and possibly only making there on one day with a daily close below the 50 DMA. As you can see, I have attempted to project the possible path for the 50 DMA and it is right below that target area. Otherwise there is really not much to talk about. Everything is moving according to plan as I saw it. I post my gold chart next. And by the way, gold closed below the 20 DMA. No Juice? hmmmm?
AMEX:JNUGLong
by SalN
5
Jnug to Gold "week of the Fed" 3/11/17I almost didn't do a analysis this weekend because it seems pretty obvious to me now that Jnug is going up for the short term. Just look at the price action last week. Gold was falling but clearly Jnug was flat. I knew that it wanted to go up and towards the end of Friday afternoon, once spot gold turned around, Jnug flew. So what's next for Jnug? I think I will show two scenarios. A conservative one and a wishful thinking one that could happen as well. So the blue arrows are the conservative path that I think is very possible. As you can see, the black 10DMA is just above the closing price. And we are just below a notable resistance area (blue line $6.36). So it is very possible that Jnug drops a little to retest the breakout level into FOMC before moving higher. But then I look at spot gold, and I see a reversal candlestick that bounced off a downtrend line and think that if spot gold continues up even a little bit, and the broader markets also continues up, then we might just gap up, at least over the 10 DMA and possibly over the $6.36 area and fly up for two days to the very strong $7.75 area before slightly consolidating for a few days. Then up again. I keep hearing everyone talking about the dollar in a head and shoulders pattern. Maybe they are correct. But the Yen doesn't look that way at all. In about two weeks we should get an idea (bearish or bullish) of where the intermediate trend is going to be headed. Gold usually rallies hard immediately after a rate hike... just like it did in December through February 2015/16 and also just like it did this December through Feb. So if gold does not rally hard...AND break out of the wedge, then that should sound the alarm bells because gold may actually make a lower low. Much lower. If gold is going to make a lower low, then this year would be its absolute bottom. Up next my spot gold chart
AMEX:JNUGLong
by SalN
16