NEWGOLD INC NGD JANUARY 2019 LONG STOCK PRICE TARGETA PICTURE IS WORTH A THOUSAND WORDS
AMEX:NGD TSX:NGD
Goldminers
Short Term Bullish On Gold MinersGold miners have seen decoupled correlation with gold prices over the last couple trading sessions; while showing more correlation with broad equity market movements. SP:SPX just broke a key resistance level with heavy volume, meaning bullish moment in the short term. I believe this will help push AMEX:GDX upwards in the short term towards it's recent peak.
GDX experienced some profit taking after the 7% surge yesterday due to the Fed leaving rates unchanged and having a more dovish tone. However, despite the selling, GDX managed to pull back into the green, indicating new buyers are coming in.
Gold prices should remain supported enough to avoid negatively impacting gold miner stocks. Yields are still in a heavy downward momentum as investors are piling into bonds because of conflicting news regarding the economy. US dollar price action is showing an ascending triangle, therefore indicating that it's still bearish in the short term unless we see a breakout above resistance with strong volume.
Positive Economic Catalyst
Feds are leaving rates unchanged and derivatives market is pricing in a roughly 50% chance of a rate decrease by 2020.
Given that low rates support the attractiveness of gold, gold miners should have a higher probability of increasing as well.
Negative Economic Catalyst
Once again Feds are reiterating a slow down in the global markets that could affect the US economy, which is in a good state right not, but not impenetrable from external shocks.
Still a lot of uncertainty over China trade deal. When will it be signed? What will the details be? How long will the tariffs be kept after a deal is signed?
If we do get a sell off due to market fears, this should help lift gold prices.
***Caveats to this analysis:
1.) The resistance at ~22.95 is too strong and not enough buying power to push past it. In this case it's very likely that a new trend will develop in the absence of any further macro developments
2.) Broad equity markets could sell off sooner than expected and cause gold miners to sell off as well. However as mentioned above, if markets sell off rapidly and fear kicks in, gold prices should rise due to its safe haven nature, which supports gold miners.
Kinross Gold - $KGC - Good Setup to $4.00. March Options?Hello again fellow traders and opportunists, it's your favorite (top three at least?) talking pickle. We have a beautiful setup on NYSE:KGC . This could
take us all the way to $4.00. Get your March options in while they are cheap. A fall below the EMA would be a good stop.
Don't get in a pickle!
Relish the moment,
The Shill Pickle
Golden Cross - Gold likely to toucb 1308 in short termFractal Inverted Head and Shoulders AMEX:JNUG AMEX:NUGT NG TVC:GOLD
$GDX $NUGT $JNUG Short play - Is this where you want to go long?I rarely post two charts in a day but this one seemed pretty good. Self explanatory chart, Classic support turned resistance. I also see divergence between the price of gold and the gold miners, with gold not moving at resistance and GDX pushing up. I think that signals GDX is over extended. I can update it later to put more detail if needed. Short/sell at the Red rectangle, cover at the green ones.
Keep in mind this is 2016-2018, seems pretty solid. If you agree/disagree leave a comment.
Update: Forgot to add there's a trendline we're hitting if you connect Jan 23 2018, July 10 2018, and now. That's lot of resistance signals in one place.
GOLD MINE of INVERTED HEAD AND SHOLDERS ON XAUXAUUSD GOLD
LONG ON GOLD. NESTED SERIES OF INVERTED HEAD AND SHOULDER PATTERNS.... 1ST TARGET AT 200 DAY MOVING AVG. 2ND TARGET 1305
GDX Gold miners ETF has not broken down into bloodbath like goldReversal possible off lower E into the holiday weekend as the shorts have had their fill smashing gold. Now they will load up and go the other way for several months is my guess. The miners should lead the way as they did not break down like gold did which shows positive strength. IMO>
Gold bloodbath phase ending?The breakout to the south of the ABCDE triangle could be reversing very soon, as the longs have been scared out of their shares in a multi-day bloodbath, and now it is time to load up before the reversal. The mining shares have diverged from gold itself, as the same pattern is present in GDX, but sans bloodbath breakdown. If gold reverses into the triangle, the miners should be leading the way.
NUGT at a Crucial Point on the charts NUGT is completing the handle of the cup in orange. Also we have a head and shoulders that favors the bears. Still a good chance that the hanlde of the bigger cup which happens to be a inverted head and shoulders plays out to the upside. I have been bullish on NUGT and will remain until we break down.
#kozal looks like a bearish set up but.... #kozali was lucky to spot the good entery level at 34,00s (see previos ideas posted) its been a good run and i felt the need to update the idea.
intraday chart forming a bearish heand shoulders formation at top. also there is a decent flag formation at the right shoulder.
the way i plan to play the chart is: although how bearish it looks dont get carried away and buy the break out above the shoulder.
tactical short below 45.00.
until than it is a waiting game.
good luck!
Gold Miners. Recent Long Entry Working Well for NowGold miners and gold were under pressure as the dollar attempted to relive some of the oversold conditions. It seems that $DXY is finally moving lower and this is helping gold and gold miners
Hecla Mining - A Clear and Present DowntrendThis #gold miner should probably be shorted on any bounce $GDX $GDXJ $GLD
Might be good time to stock up on Gold Miners.Gold mining shares have not been this undervalued relative to the price of gold in 9 years! The price of gold has just recently broken out of a 6 year downtrend. Buying gold miners at this low point in their valuation might be a good way to leverage the price of gold higher and maximise returns!
GDXJ BreakoutGreat breakout here on GDXJ as investors fly to security with geopolitical instability.
We have a breakout of several different levels, making this a potentially very powerful break.
SIGNALS:
1. Breaking out of consolidation pattern since beginning of May
2. Breaking downtrend line from 2016 highs
3. Breaking over 200 day moving average
Entry: above 34
Target: former resistance around 42
Stop: under breakout level, 33.50 - 34.00
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!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Anybody trading JNUG? might be just getting exciting.Gold's explosive break today was a nice continuation of break-out from 3 days ago. Without getting too deep into the fundamentals, Draghi basically punted the EURO toward the moon and the US stock market's inflationary pressure is rocking the DXY into new lows.
The combination of gold strength and inflation makes junior minors a fun instrument. Careful if the S&P falls over (although, some people have been waiting for that to happen for 7 years.. LOL) because even if gold sky rockets to the moon, gains in miners could be stifled and dragged down by the index. Its a tricky trade, buyer beware.
Gold Long - LTGold is looking to break the 2011 downward trend line.
If you look at the RSI, you can see that gold has been in consolidation since early 2013.
I truly believe we will break the trend this year, with fundamentals supporting this move.
We may not initially break the trend this month, however the only downside risk I see is to the 1230-1240 area (my thin line).
Goodluck.
GOLD FIELDS LTD - GFI BEARISHGuys see head & shoulders completing. Look out for knees and toes next...
3 Cups - Gold BullishThere's about a roughly, umm, 0% chance they raise rates in March.
Nice try grandma.
GBPJPY short positionGBPJPY short trade executed few minutes ago at 142.200. STOPS at 142.400, TARGETS at 141.550.
Lets see how this one plays out.
cheers, EnjoyForex
Gold - 1220 SupportWe have had 2 strong bounces off the 1220 area, with both bounces hitting above 1230.
It must be noted that the level we got rejected at (1240), is the bottom of the past low we made in October. It appears that passing this level is the gateway to 1280.
It will be interesting to see if gold even bothers retesting 1220 again in the next few days, rather than attempting to make new high. I will also be paying attention to grandma's speech today, and seeing if she strengthens the USD.
Gold longRe-longed gold on Friday, 1W and 1D both still look very healthy for bulls.
Cross on 1W MACD, with the 5EMA looking to cross through the 50/100EMA.
We saw a big bounce off 1220 on Friday which served as strong support and reassures me of my long position.
Gold DirectionAs I posted in my prior idea, I sold my gold position this morning when the DXY started to rally.
I am still long-term bull with gold, however it is clear to me that this move wants to retest the 1220 area as this was significant resistance over the past few weeks. There's currently a bearish engulfing on the 1D chart, and the MACD is looking to test a break back down. Furthermore, the golden cross that we got this week, looks like it wants to retest the 100 EMA.
I am currently holding a short position from 1237, and will be looking to re-enter long off a bounce from the 1210-1220 area.
Gold still has bull momentum, and is still within the trend-line (both price and RSI). On top of that, the Fed isn't going to raise rates in March, so my long-term opinion on gold hasn't changed.
