JDST
Will the miners offer one more dip?I am wildly bullish on the miners and precious metals over the longer term but I suspect another corrective leg down. GDX has been forming a giant ascending wedge from 2013-2020 and just broke out of that pattern this year. The drop in March was just a small piece of that puzzle that flushed a lot of new & experienced traders out of the trade. I pointed out several times that it was potentially an extremely good buying opportunity. That turned out to be true and the miners have been one of my best trades this year. I'm not an expert on Elliott Wave Theory but I'm seeing what looks like 5 waves up that completed in August. Perhaps now price is still stuck in some type of correction before a much larger move takes place. Take note of the red flag on my lower indicator. There's clearly a trend there and price has not dropped enough to complete another touch. There's no rule that says it must but it's just something to watch. Be patient. Be smart. Do YOUR OWN homework. Follow price. Ignore emotion... and get ready!
JD.com bullish long termAnother stock that's in my portfolio is JD.com (NASDAQ: JD), the national e-commerce giant second only to Alibaba (NYSE: BABA) in gross merchandise volume. It did remarkably well in the first quarter, when China saw its first economic contraction since the government began reporting statistics. It did even better in the second quarter as the wheels of the economy started speeding up again.
The covid period has really helped many e-com boost their revenue and profit. Amazon is one of them as well. That said, I feel JD.com has huge potential and definitely a stock worth holding long term. Even once covid is over, I highly believe that users of e-com will still continue using it and they will continue to be profitable. A good entry point if it ever retrace would be around $64 - $70. Although I feel that there's a chance that it will just continue its rally if Covid cases continues to increase and no vaccine is discovered.
GOLD ascending triangle$gld $gdx $nugt $dust $jdst $jnug $gdxj $slv $sil
I'm bullish on gold no matter what technical patterns are at play. This is an interesting pattern I've not spotted until the last few months. Looks like a legitimate ascending triangle and measured breakout. Will it break above and never look back or will it correct and land on top to test the triangle? Doesn't matter to me. Either you hold it or you don't.
The Big SqueezeWe have 3 major trends that will collide next week.
Should get to 1800 next week, then bounce off the primary wave for a healthy correction. But you never know with gold these days. Its quite bullish. If it breaks out of the primary wave, it will go exponential.
Golden Title MatchThe Spring season ends within a few weeks. Golden bulls and bears are about to go head to head for season champion.
Bulls will surely win next season, but this season is still close. Bears have a chance for a final round comeback.
Bulls will try to go for the kill this week with a break out of H(1) wedge, while bears try to extend the match to the larger H(4) wedge.
I think the match will not be decided until the end of the month.
Short GDXJShorting GDXJ from $37.17 with a target of $27.86 to $30.00.
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I believe that with markets potential to fall we will likely see another round of weakness, even if briefly, for the miners and gold in general. The potential for more profit taking or selling for margin have been greatly increased with the rapid rise in GDXJ over the past week and with markets at approximately 50% retracement levels from the highs respectively. If you feel unsure about shorting gold in this bull market you are smart, this is for risk oriented traders. If you are not going to short you may want to take profits for the time being in hopes of buying in lower. I would not look buy back in until either lower prices or up trend is certified by price action as intact (potentially even breaking past prior high). One can short directly, via puts, or even through JDST. Happy trading!
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WEEKLY AND DAILY RSI DIVERGENCE (BEARISH)
WEEKLY CANDLE'S NOT LOOKING GREAT
DAILY CANDLE HAS GAPPED BELOW THE 200 EMA CONFIRMING A BEARISH BIAS
GOLD - Will we hold 1680 support?!Price has broken our trend line and touched a strong area of support around 1680s. We will be looking for sell entries only if price breaks and hold below 1680s. If price holds the current area, we can expect price pushing back to 1730s
JD Bear trap ideaPotential bear trap in the way the Fibonacci line has a very tight price range between Fibonacci lines.
Leaving support resistance zones kinda indistinguishable
Risky buy
Gold corrective leg down?$gdx $gdxj $nugt $jnug $jdst $dust $slv $gld I'm bullish on hard assets- watching for possible leg down. A higher high will invalidate this.
GOLD (XAUUSD) preparing for MAJOR SELLOFF before true breakout!!Cycles analysis indicates one more major deflationary move to occur. A selloff approaching for XAUUSD down to support levels near 1380, as well as a retest lower for gold miners. To be followed by a longer term major buy setup for gold. Let's remain objective and not get too excited just yet!!
Ride the Wave (Down)Waiting for the fifth wave down to be complete. Gold miners are uncertain - acting more like stocks. Short here.
Everything in life is a gamble.
-Kendrick Lamar
JDST Long, Sell point around 12$If it brakes the MA 180 days then we can think about rebuying the pull back.
GDX just got my attentionI believe the miners are undervalued and stand to do well moving forward. Gold and silver have shown their stability through history and remain solid in my opinion. I see a lot of potential in the miners.
(renko blocks are not playable so I'l have to post updates below)
I like the miners and the things they mineminers have re-entered my "I'm interested" zone. I think 2020-2021 has very good things ahead for the miners and the things they mine exciting $nugt $dust $gdx $gdxj $jnug $jdst sorry for the ugly chart
#JDST $JDST all boxed up and staying put , lovely sideways fry pit it stays there in this line boxed for a while I don't mind at all go long in between the lines
JDST long ideaSure looks like a break out to me. Pick up some JDST as gold and miners drop into the next ICL.
JDST heading for 17-18+Consolidation complete. IHS and bull flag suggesting another leg up. Targeting 17+. Would love to see test of last month's highs above 18. Gold looks like ready for a 1450 test, possibly even as low as 1413.
