Direxion Daily Junior Gold Miners Index Bear 2X SharesArca
Mô tả
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Going 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.
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GOLD is forming a double top here. Moment of truth, a move higher would cause me to get out of JDST with a loss. I suspect we go lower from here. I did have one possibility shown originally that JDST would drop and retest the lows before moving higher, Still in play.
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GOLD cooperating so far, moving lower. Has to stay below 1256.
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Just saw this. Note the similarity in the previous double top and the current one. If this plays out (see the gold candles overlaid) then we can expect a pullback to 1243 before a move higher. STOC and TSI are similar as well. Purple arrows at double tops.
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GOLD hit 1243. Now probably moves higher according to the candles from the last double top. JNUG may move higher here also, but will certainly fall later.
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Taking a look at JNUG. The purple arrows indicate GOLDs previous double tops. Both of the previous times miners dropped. The first set of double tops, the miner drop was short lived and reversed, but notice that the price of the miners, JNUG in this case was finding higher highs as gold moved back to the 2nd top. We aren't seeing that in the last two times. So, I expect more downside for JNUG. I am currently looking to buy more JDST IF we get a drop to mid $13.
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Price Action working out as planned. Hit $12.86 this morning. Hope you got into JDST there.
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Blue box area playing out. IF JNUG doesn't explode higher with gold watch for a disconnect and a move lower.
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Everything I read says that gold is on day 22, and has been going 28-33 days per cycle. Its not wise to be long. All the analysts are in agreement. I still hold JDST. I am waiting for GOLD 1280 to buy more. Looks like we hit my target overnight. I will buy more at open. See the gold candles below, they are from the blue box on the left. Same double tops (purple arrows) and now we have reached the top. I am expecting a week of lower prices in miners.
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Sitting at the long term trend line, "Resistance" I am expecting a drop in GOLD. The cycle is played out. I believe we will be on day 24 Today and Gold has been running 28-33 days lately. Already up over 10% in our JDST trade so we have cushion. A strong move higher above the trend line will get us out of the trade. Fingers crossed that the analysis is correct.
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Perhaps headed towards a double top in GOLD before it slides down into a DCL or ICL. Either way with GOLD going higher, JDST is still moving higher. Which means the miners are not buying that GOLD will continue higher.
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since 4-12-17 Gold is up $19 and JDST is up 20%
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JDST continues to work well, even with days like Yesterday where gold moved $10 higher, the miners didn't give back. Today the slide continues. I have the 38.2% fibo as a target for gold. I will watch for gold to become oversold on the daily chart. We have seen gold stay oversold for weeks. Enjoy the ride.
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Shorter term, I expect the lower trend line to be reached at the 38.2% fibo. 1257 for gold.
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Possible Target for GDXJ of $31 based on AB=CD pattern. GOLD 1256 still in play.
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Being conservative and selling 25% of my JDST here at 20.71 up 60%. JDST looks to be flagging and will probably move higher again. Gold looks to want to drop some more. I have a target for gold at 1257.
Đóng lệnh: đạt mục tiêu
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Sold the last of my JDST holding today. Still think we see gold lower, but a great trade. Moving on.
@eagleeyes94, Watching how long the cycles run and 38.2% fibo for gold. Maybe 1257 for gold might be the time to take profit.
ArtFly
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So you are long on JDST or oposite JNUG now?
bhowe
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@ArtFly, I sold half my JDST position Yesterday at 14.60, I was hoping to buy it back Today or Tomorrow around 13.20. I kept half in case I was wrong and JDST just kept moving higher. Working out so far. I expect JNUG to move higher but short lived rally. Then I expect JDST to take off, even with GOLD moving higher. Check the previous double tops action.
7878max
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I agree with the long idea, but it may take a dip next week. I think, it's in a leading diagonal now and a brief correction may follow. If that holds true, I'll also work up an idea on JDST sometime next week.
WSAnalyst
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target price? or target gain? and for how long?
ArtFly
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Did you open long position on JDST? what is your target and SL?