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NUGT

NUGT- Bought $12 Jan-17 calls, as GOLD reverse from strong suppGOLD (XAUUSD) seems reversing from its long term strong support of EMA 161, which is considered very crucial for gold. Interestingly the same reverse point is 68% Feb-retracement point of the December low of last year. So we think gold will have a short term upward move, and to play this short pop potential we took NUGT $10 January-17 Calls last traded for $1.12 You can check our detailed analysis on NUGT in the trading room/ Executive summary link here- www.screencast.com Time Span: 13:20" Trade Status: Pending
AMEX:NUGTLong
by AcornWealthCorp
2
Gold Short -- Hopefully a Nice ChannelA nice channel took us from the low at 1123 to 1219. Let's see if a nice channel shows us the way for part of the retrace. .236 was my confirmation of a deeper retracement. .382 (and .5) will be watched closely .618 could be a point to either exit or watch for upward retracement, if not at .382 or .5 If you missed the long in it's channel, this could be a nice chance to grab some profits. Now that it is at the top end of the channel, I'll hold longer and scalp less (ha, maybe). Targets are clear.
FX:XAUUSDShort
by AlphaDreams
Jnug to Gold Rate Hike ?? Feb 1stSo typically the miners cycle would have ended today....and maybe it did. But like I said in a earlier post, I think we may stretch this cycle out until Feb 1st. If we do have a rate hike then I am expecting a similar movement down for that day and then a sharp rise the next few days. It also appears that we may be making a zig zag pattern which started zigging today. So while I think we could go up more, I just don't think it will be a big move up. Maybe up to the 10 DMA or at least touch the $8.74 resistance line before closing at the 10DMA. In other words, we should trade sideways for the most part, on Monday and Tuesday. Then IF a rate hike does happen, it would seem highly likely that we drop to touch the 50 DMA which as you can see would also be right at about the trend line at approx. $7. And then yes, a bounce to retest the recent highs. At that point, everyone and I mean everyone is going to say (just like they have been saying) that we are going to break out and go to the moon. If that is the case then we should see a break out above that big blue down trending resistance line. Yes it can happen, but no I do not think it will yet. My chart speaks for itself for what I think will happen. I still feel that the 14.5 month cycle that I wrote about a couple weeks ago is in play. And while that is almost never perfectly 14.5 months, for the purpose of this chart, 14.5 months ends at the same time that spot gold is suppose to end its daily cycle (end of Feb/ beginning of March). A coincidence that really should not be ignored. I would like to bring up a scenario that I think could play out. Rate hike on the 1st. A swift 3 - 4 days market sell off (see my SP500 chart) which would coincide with Jnug making a strong pop. Then, the broader market would start its 5th a final wave higher until the May rate hike which would draw money out of gold and miners. And analysts will be writing about how gold is weak because the market is strong so no one needs a safe haven..ect, ect. And lets not forget about the YEN. I will post my Yen chart to show you the move it started a few days ago. the Yen appears to also be starting its 5th wave. And currently the Yen is much more inversely correlated to gold than the dollar is to gold.
AMEX:JNUGShort
by SalN
1
Jnug to Gold pullback not finished YETI just read from someone that he believes that the daily cycle for gold is finished today or tomorrow. He called it a Shallow DCL....UMMM NO. The divergences have not resolved themselves yet. And we should at least pull back to the 50 DMA for a healthy DCL. This is a half cycle that we are currently in and it is my opinion that the weight of the possible rate hike on February 1st will continue to drag gold down possibly until the decision day just like the last two times. We could do a very small one day move up but we still have room to go down in my opinion. As far as miners go. I think we have just started the pullback for miners (JNUG) DCL low which should normally end around the 26th or 27th. But this Rate hike date may also stretch the pullback until the day of as well just like before. I do think JNUG will pop briefly right after Feb 1st. I will post my chart as to what I THINK will happen in the coming week(s). Lets also not forget about the DOW breaking 20,000 and the Japanease Yen. So this week is important. WE shall see who is correct. Just have your stops in place which ever way you lean.
FX_IDC:XAUUSDShort
by SalN
1
Gold Bull or Retrace First?Is gold retracing or more bull? If it reserves here I have the charts up and you can see here in solid gold . If it continues, I'm looking for 1229. If there's a light pullback before continuing to 1229, it might not be deep. DXY bounced off a critical area too; 100.3 above 100.25 which would have signaled it falling deeper. If DXY continues to fall, gold will regain it's movement bull . Gold's 1h RSI is right at trend line . It could bounce and go higher or begin the next movement down. Will watch and see. Solid Gold: Bearish Crab 1218 GoldOutline: Bearish Deep Crab 1229
FX_IDC:XAUUSD
by AlphaDreams