Bullish gold, Flag on daily chart. Fib level .238Bullish gold, Flag on daily chart. Fib level .238 $1225, Possible US vs Saudi arabia tensions. QQQ and SPY barely holding 200 DMA. FOMC Nov 7-8
NUGT
13.26 (48.9%) JNUG - Monday Oct. 15 PredictionIn relation to all my predictions, I believe people will panic buy JNUG as a reaction to -13% drop we might have on Monday, Oct. 15th. In my opinion and not financial advice, I would sell it and go JDST after taking profits at the ~48.9% pop.
Jnug to gold Well I havnt done gold for a while now but it appears to me that a nice setup to go long is presenting itself. This ICL has been stretched but that just makes me more confident that I have a safe Jnug play here. I am not about to try to guess what kind of wave count we are in. However, If we have started our move down into the larger C wave then this move up could look like what I drew. However, It could also be the beginning of the end of the B wave which would take us higher than I drew. I will be just fine with a move back up to the 1300 range before reassessing the pattern. Jnug will do well. but I will be watching its movement along with gold to get a feel for how powerful this move will be.
Jnug chart
Surf the correction wave on NUGT!NUGT is ready to go up in a C correction wave as it is finding support around 1330. We can aim for an entry at that level and a TP around the 50-61% retracement.
For details on GOLD, refer to my previous idea, it is very detailed.
xauusd forecast based on broadening formation$gld $nugt $dust $gdx $gdxj $jdst $jnug $dxy
Strictly based on technicals, gold has a lot of room here over the next few months
Capitulation?I see the signs of capitulation in the PM minder markets.
$Nugt could go up 80% like previous time, with a target of around $24.
However, I'm aware we haven't seen real capitulation yet, but from a technical perspective, things looks quite safe to go long.
GDX long idea long set up here as it hits a multi month support. Would get bullish over 22 with increase in weekly volume $GDX $GDXJ $NUGT $DUST $GLD
Record volume on gold etf 3X bull everlargest volume
on gold -0.32% etf
reminds me of btc 1.09% at 4k
super move in
plus bull divergence
Silver/Gold Triple Three Pattern? HelpSpent a silly amount of time on this. Every Combo pattern seemed off until I came across this one.
Wanted to focus only on Elliot Wave Theory. I'm trying to learn more about combination structures WXY and would welcome an expert opinion if any have one.
There's some sort of double corrective structure going on here in Silver, I can just smell it. But can't put my finger on it.
I'm reaching far out on this one so it could easily get invalidated, but it corresponds nicely to what I was originally thinking would play out in Gold/Silver over the next year. It took me a very long time before I realized that we might only be half-way through this corrective period, and this is the only structure that fits given that we only have half the price action to speculate off of.
Just throwing a stray metals post out into the ether of bitcoin posts.
This is the link to the idea:
www.google.com
Gold's Giant Wedge, Just Interesting for ReviewAs always, I try to keep the larger picture in mind. This is a very interesting overview.
Gold Time is nowThe timing on the GOLD chart XAUUSD is certainly right for a major reversal. Could happen any day, when it does, it will be very rewarding. JNUG and NUGT should really run higher.
GDX Miners CautionHere's my 2 cents on the miners. Based on the last 7 months or so, it looks like we had 2 cycles and are currently in a 3rd. They range about 109-137 days. In each of these waves you can see three minor waves. If we are currently in the 3rd wave of the 3rd cycle then I would expect it to be LT and drop fairly soon. It shouldn't take out the highs of April unless there is a new trend higher happening? The peaks at "1" have each been lower than the previous, where the lows have all been about the same. I'm really not sure what to make of all this, just sharing...........
NUGT at a Crucial Point on the charts NUGT is completing the handle of the cup in orange. Also we have a head and shoulders that favors the bears. Still a good chance that the hanlde of the bigger cup which happens to be a inverted head and shoulders plays out to the upside. I have been bullish on NUGT and will remain until we break down.
Bump-and-Run Reversal BottomsXAUUSD is finishing up the Bump phase and about to break out of the downtrend to start the Run phase.
Cheers!
Jnug to GoldJust a little update to how I am currently seeing gold price behavior and the pattern that lies ahead. It makes sense. This next push should bring gold up to the $1400 range and then be the end of the large B wave. You know what comes next right!? The big C
Dollar support area and weekly bull divergenceDollar support area, bull divergence, and possibly #6 of a broadening formation (megaphone). Will it be enough?
GDX Long IdeaWell here we go again. GDX is at the lower side of the trading box. A buy here with a stop directly below should produce a good risk reward trade. It won't be a straight line higher, but could reach the top of the box eventually.
