JNUG trade ideas
JNUG potential breakout of channelAMEX:JNUG
JNUG consolidation in upper channel about to head to $200. If JNUG can break out of channel, TP 1 is $220 and TP 2 is $302
DOUBLE BOTTOMZ UPNice double bottom forming on gold mining stocks . Price target indicated by this bullish reversal pattern is a nice merger with the daily up-trend line and fib level indicated in chart.
Best option for profitable trade is to buy on decisive volume breach of pattern neckline with stop loss as indicated. For less risky entry point, wait for confirmation with small pull back and a bounce off the neckline.
Good Luck. Technical pattern information included below
Double Top or Bottom
The double top is one of the most popular patterns in trading. It's a reliable reversal pattern that can be used to enter a bearish position after a bullish trend. It consists of 2 tops at nearly the same level with a valley in between, which creates the neckline. The second top does not break the level of the first top, so the price retested this level and tried to make a higher high, but failed. Price breaking the neckline and closing below it would complete the pattern.
Conservative traders look for additional confirmation and aggressive traders may enter a bearish position from the second top. The target can be estimated by measuring the height of the pattern and projecting this downwards from the neckline. Common stop levels are just above the neckline, halfway between the neckline and the tops or above the tops. The double bottom is the bullish version of this pattern that can form after a downtrend. A popular variation of this setup is the 2618 trade (as taught by Jason Stapleton) with specific rules for the pattern configuration including where to enter and to exit the trade. - SOURCE: TRADINGVIEW
Time to Take Off My Shorts. An Inverse Head and Shoulders Pattern has developed on the Junior Gold Miners Bull Etfs JNUG. Pattern is predicting a new bullish price target of $110 correspinding with the MAY 20 TOP and the 1.272 fibonacci retracement level. Planing on adding to our bullish position after a breakout of this pattern's neckline. A tight stop loss just below the right shoulder is appropriate.
OANDA:XAUUSD AMEX:GDX GDXJ AMEX:NUGT AMEX:JNUG
JNUG HEAD AND SHOULDERS RETRACEMENT COMPLETERiding the wave on junior gold miners . Plan details as indicated in chart.
Good luck
"Patience comes to those who wait."
-HANDOFGOLD
GDXJ JDST AMEX:JNUG
JNUG PULLBACK NEAR - BULLS TAKE 2X LEVERAGED LOSSES JNUG THE 2X Leveraged Miners ETF have put on a show over past couple weeks with price climbing to the upside. A pullback is now expected.
TP 1 $99
TP 2 $90
JNUG Upward TrendAMEX:JNUG very volatile on short term trades but overall upward trend forming. Looking for a test of the upward trend line down to about $83 for bullish entry.
As JNUG is bearish, play JDST bullish :)
Miners almost a BUYA break out above the dotted cap line will be very bullish. We had a false break out before but I think were ready to go. A break above 90 is solid.
Peaks and Valleys Well if it breaks the volume line well will see I find the curve a smooth indicator for gold .
A clear sign of a Falling Wedge! Gold is on trackIf gold really wanted to dip to 1,600$ it would of been sooner because of Thursday’s reopening and positive drug news. But 1 thing we need to know is that numbers don’t lie! Unemployment is a major booster to gold and a falling economy. The market is being pumped by top 1% and federal reserve as more money is being printed and loans are being throw everywhere like beads in a parade. We can clearly see a falling wedge being made here in JNUG and will surely surprise bears when the reversal happens towards the end of next week maybe Monday 27th. This was obviously a sell of for gold and miners, but long run speaking profits should be looking good. If you have any contracts that expire soon your pretty much on a high danger zone as the reversal won’t be happening in a day or two. A month long call up to a 3 month call should make nasty money if bought between today and next Tuesday as they should be at cheap cheap prices. Also, if you see the moving average or
Williams alligator indicated you will know that long-term Speaking as in 2 to 4 months gold should be 1,900$ pretty soon before August
Looking to Short - Technical Analysis of JNUG - Gold MiningIt looks like the tons of volume that entered the market on JNUG last week is the only thing keeping the price afloat. Overall the stock is bearish, dropping from over $100 to single digits.
Short-term, it's getting ready to test the resistance (shown by the horizontal green line. We can see a bullish trend over the last few days, steadily making higher lows. I'm expecting it to continue the downward trend because it's getting close to testing it's previous top, but those who are taking a more optimistic position should at least wait until it closes above the resistance before taking a long position.
Holding my short positions unless the resistance is broken
JNUG LONGWorking with a Bearish Alternative Bat Harmonic Pattern:
The key area to hold here is $3.77 and above although it can close with a wick below there as long as the candlebody doesn't close below the 88.6% retracement of AB.
Huge R:R, targets aren't listed on the chart, but ideally I'd buy anything under $4 and set a stop loss at $3.50 or so, if this area holds my first target will be around $7 and from there they will be above $10.
If you want any further explanations or have any questions, feel free to drop a comment!
If you like my content, make sure to 'subscribe'!
Thanks,
