Gold correction and Jr. Gold Miners PanicI think the Dollar will bounce Hard. I think the market is already telling us that. Otherwise Gold and Oil and other commodities would be rallying on dollar weakness. Obviously the dollar is volatile and I could very easily be wrong on this but that is my idea.
Short the miners. Also it is interesting that the 4 for I split happened on the slightest bit of strength the last time jdst popped.
Gold is seasonally weak into this time of year. Also It seems to me that the stocks have shown strength with the general market and that could easily change about now.
Good luck. It's a slippery one.
JDST trade ideas
JDST Heiken Ashi - Buy The DipI consistently use the Heiken Ashi charts to better visualize the trends in high leverage ETF's because these charts filter out a lot of the day to day noise and they provides a nice snapshot of the peaks and valleys which are key trading points to time you entry and exits.
The above chart illustrates the trend reversal that is happening after the FOMC raised rates last Wednesday. In the next day or so, my trading model will trigger a buy signal for JDST, and as a result, I have opened a modest long position in JDST using July Calls, with five weeks till expiration.
Last Wednesday was the biggest volume day in JDST history, and the big players were buying.
Keep an eye on the COT Reports coming out later today.
JDST, JNUGGoing long here with the inverse fund JDST. I believe Gold is at a high and will fail shortly. Gold can't seem to make new highs, and the miners have been weak for weeks. With GOLD pushing higher and miners losing value, its a typical sign of a top. JDST could drop and retest the lows, but I doubt it. Going higher.
Miners going bearish???This idea works off that JDST is in a leading diagonal wave 1. Strong internal wave 1, weak 3, weak 5 that makes a new high. I would expect a dip after the triangle completes and the dip price shouldn't go under the stop price. If all these hold true then a new impulse wave should go past the leading diagonal top price.
Anything going different would break this idea. These ETF's trade with high volatility and can change any good idea quickly.
Partial charting, price may hit around the 50 SMA on daily and go into a correction finding support before the stop. The next move up should break the 50 SMA daily and needs to remain bullish for a continuation.
You all should know these ETF's trade crazy wild. Use caution, good charting practices and know the trend!!!!!
Winter is waning and the bears are waking.Didn't seem like GOLD XAUUSD received the expected support at 1220 after the recent FOMC meeting and has been declining steadily for the day. Which could be a bullish continuation pattern in my opinion is that it indicates a lack of support for that price level and we may see a larger reversal past 1180 if GOLD doesn't regain its footing. Granted things are at a tipping point the major indexes have been negative with a rise in the VIX though each day it has decreased after the open. Will change my mind if the Major indices continue to fall with the S & P closing below 2263 and the VIX increasing during the trading session confirming that people are trying to through blankets on top of a building fire. Currently entered at 16.79