I see a dec no rate hike moving gold to 1380 to 1400, but looks like a consolidation might take place. Also dollar is gaining strenght
So I was bummed that gold took off after Japans non move. Oh well, Im still buying Jnug for the short ride up. Just a brief update today. I have slightly moved my arrows (price movement). I also included the Fuschia colored and black vertical lines to mark DCL approx. dates and the Black vertical line are what I believe is ICL bottoms. My Idea is that jnug...
well, well, well...Jnug closed at $17.35! Right smack dab near my price target area of around ($17.50). And the week before it closed almost perfectly in the price target as well. So just to update, I think that Jnug will bottom around the $16.20 on Moday or Tuesday. Then with no rate hike, we will get a small run for a couple to fours days. I am looking at least...
Since my spot gold chart is too cluttered to post, I thought this JNUG chart may be a better guide. I use mostly Cycle analysis, and to a lesser degree .... Technical Analysis for price guidance, Max Pain Expiration, Cot report Tuesday cutoff, and typical seasonal movements. Oh and lets not forget the dependency on the data on the economic calendar as well. As...
Everything is in chart. Numbers are rough but close enough. Sharing ideas, not trades.
Everything is in the chart. Complete 5th wave, correction to fib level. Turn upward in support of new bull. If correction is lower than 1303, bull is invalid. This is an update with larger timeframe of the earlier chart. Much is the same. The unfinished legs are for reference. The values of correction are close, the time will be off. The values of the next...
Making Flag to step Upside and break resistance 1330
I have two plans (bull and bear) but trying to work them both out separately but comparing them to other instruments I'm watching (US Indexes and Oil) make one less likely at the moment. If Gold is still bull long-term then this plan would be valid. We are finishing the last leg of the impulse wave (v) before it begins to correct. How low? No lower than the...
Gold is at its lowest horizontal support, if there is another pullback I see gold touching my trend line around (1294-1292).
Almost a complete capitulation here... giving another try. Possible technical breakout, with tight stop loss...
Janet Yellen is set to speak this week Friday, market will be anticipating a rate hike for September. Her words will play a big factor on the direction of gold. Support level (1334), (1330), (1322), (1311), (1300). But I expect a delay in rate hike in Yellen speech. Very bullish on GOLD, look to set new high this year.
Is gold going to range before getting to a larger channel or break much lower before it climbs. This shows a short-term trade I'm currently in but it's mainly so I can keep a bigger picture view moving through the next few months through elections and the end of the year, start of new year.
Gold hit top trend line and fib extension and now has put in bearish RSI divergence and been posting low volume. Expect a correction to the noted fib levels.
Buy gold when the U.S. dollar crosses below its 7-week EMA and to sell gold when the dollar crosses above its 7-week EMA
SMALL UPTREND ON THE USD, LOOKS TO BOUNCE OFF THE UPWARD TREND. WAITING TO SEE IF IT WILL BOUNCE OR BREAK LOWER.
We didn't break the upper trendline and came down to break through the smaller TF lower trendline to find more buyers. Indexes continue to drop so we'll watch where gold finds ground to push from. Either 1370 or if it needs more buyers and better timing (the end of the week maybe with new economic press) we'll hit 1350 before higher targets.