BEAR MINNERS 3X GOLD ETF (DUST) finishing bear flag trend keeping sell positions in high prices and hold
DUST trade ideas
Gold bear watchGold has broken down from a clear descending triangle formation and just made a bearish retest.
Fundamentals are strong going forward but can't ignore the worrisome technical picture here.
I Hedged my miners portfolio with DUST. Miners could have a violent break down as they have been lagging gold.
I do not think we will reach the more bearish targets, but I am thinking we have a higher than 50% chance of going sub-1400.
DUST .. in complex hard corrective wavewe are watching this minners etf 3x bear gold in crazy moves because gold is in range dancing between levels 1480 and level s 1520
Deep decline bottomless swamp,Why you buyI don't know how far it will fall
No wonder it's said to be 0.25
DUST . about to fall soonin this time this bear minners gold etf 3x making it s last push up .. then open the door to the hell
DUST/miners tightening rangeGold miners lacking clarity lately. Wait for a clear break of this pattern and it could see considerable follow through.
DUST Bullish Bat??.886s on top and bottom with room to fill. oversold on the hourly and slight bearish divergence coming into macd
DUST Reverse Head-and-ShouldersGold is about to complete the right shoulder which will send DUST into its upward shoulder. Looking to sell around $10 as first wave.
DUST - LONG Symbol: DUST
Position: +200Long
Entry : $7.69
TP: $10.5
Stop Loss: $6.68 (1.5x10DAY ATR)
R/R: 2.47x
Notional Risk: $202
Technical: Trend reversal Multi-day RSI divergence. I'm looking for GOLD prices to tuck back under 1500 the bleed off to July prices. Running a tight initial stop as I'm a bit late to the party.
DUST - The thingGold is holding up quite well today despite the strong dollar and the weak euro.
One could think the reason because gold is ignoring the dollar strength.
I think gold is just propped up to let smartmoney exit their miners positions ahead of the holiday weekend.
The dollar will break out next week and the euro is heading lower . This will move gold into its DCL or ICL next week.
DUST might print a 50-100% rally in a few days.
possible correction in miners, hedge with dustreeee,
the 17th is the fed meeting, thinking powell might not cut rates or just .25 in attempt to hammer metals???
Short Term: DUST Target $6.9 to $7.10Dumps and climbs 50% Fib.Volume looks strong and RSI has room before hits resistance. We can re-evaluate future target once we hit resistance.
US and China trades news painting good picture.
Double positive momo divergence in dailyW bottoming momentum in weekly in oversold area $GDX, $GDXJ, $NUGT
Time to buy the gold miners bear ETF?Usually gold and the dollar move opposite directions, but both XAUUSD and DXY are up since late June. The dollar index is holding above its upward trend line and poised to possibly bounce higher in the coming week.
Meanwhile, gold is in overbought territory on the RSI and making bearish divergences.
Usually, gold outpaces the dollar, and miners outpace gold, and the 3x leveraged miners ETFs outpace them all. So if you want to maximize your gains from volatility in this commodity, the 3x miners ETFs are the way to go. Lo and behold, the reverse RSI indicator is flashing a buy signal to day for DUST, the Gold Miners Bear 3x ETF. Besides which, look at that volume! That volume is huge. It sure looks like big money is positioning itself to short gold.
Some technicals to look for when choosing an entry point: 1) XAUUSD should close inside the reverse RSI channel. 2) XAUUSD should close below the Hull moving average. 3) XAUUSD should close below the critical 1500 support level. 4) DXY should hold above its upward trend line.
I should underscore that this is a risky play. I find that gold is one of the least predictable commodities. Buying volume on the bull side is still pretty strong. Gold is higher against the dollar than it's been in three years, but its well below its highs from 2011-2014. The dollar's MACD is below its signal line and its RSI is below its upward trend line, so we could easily see the dollar return to weakness and another upward surge in gold.
