DUST - Ascending Triangle Pattern FailureI was looking for continuation to occur, but NO. Broke down right away and continued all day. The down trend continues.
DUST trade ideas
DUST long ideaFairly obvious the US Dollar DXY is rallying here. Will probably last a week or so. Im taking a starter position in DUST as a hedge against my NAK position.
Will bear miners form a J-hook?Basic idea with a possible J-hook forming. I like Dust's bottom curve formation and the fact that it gaped bull 3 days ago. Stop is the gap area.
This idea breaks if Dust fills the gap, can't stay above the 10EMA and it loses it's curve like feature turning into a J shape.
The markets are wild so you need to make your own calls. Market forecasts (charts) are best guesses and not investment advice.
Future idea for bear bounceSediment for miners has been bull and you can try bull miners on the flip side. Dust is riding down the 3 EMA daily and will need to find an oversold area then check back in with the 10EMA. I'm thinking it should ride down the RSI to 30 or a bit lower. This is a bounce idea and not a long term trade.
I think gold will be bull and top out near 1280-1320.
This is one to watch for now and when the 3ema daily and 10 ema daily gap becomes too great is the time to buy bear miners OR sell your bull miners.
I'm seeing this movement following a 5 wave like structure. This last wave may be the largest wave down.
Bear miners playBull miners appear to be overbought and the same goes for spot gold. Simple in and out play. Stop below buy.
The 3EMA and 10 EMA gap is becoming too great. Price needs to check in with the 10 EMA daily with a bounce or sideways action. After that miners and gold will determine the direction.
Side note, miners have been ultra choppy.
DUST Break HigherDUST broke above and closed above a previous resistance zone. I'll be looking for this to head higher. I don't want to see a false breakout.
DUST - Double or NothingI think this is starting now finally.
I launch this idea based on the previous GDX short idea.
I don't want to chart too deep in DUST as it is 3x ETF....
But you have to know my target in DUST is around 60$ in the following 5 weeks...
DUST Trend ReversalDUST Appears to be setting up for a trend reversal. Look for this to move to previous highs.
DUST Trend ReversalDUST has been teasing this trend reversal move for a couple days now, after a failed push of sellers to move lower, I've opened a long position.
Bearish Miners Part 2This idea works off of bearish gold. Gold had a nice bull run, but it looked like a strong correction. If you look at the gold chart you can draw a reversed "J" in the price action. That should be a continuation pattern of the prior bear trend. All this should take miners bearish. To me, I feel this move down will be deeper than the 1st bearish move. I've seen most gold targets lately near 1150ish per oz.
Stop near $28.50 as this should be a strong move not falling back on it's self. Gold moving bullish breaks this idea.
DUSTLooks like we could profit from DUST opening it while we have jnug opened, it would be a locking of profits in one side while we open a short. Afterwards we turn around to full jung/ nugt.?
Formation of a Bat pattern on DUST (daily)We can see the beginning of a bat pattern on the daily chart. Furthermore, XAUUSD is boucing back on the 10 EMA ; going for a potential pullback. Won't enter yet, but will be watching carefully.
DUSTDUST targiting 32.5 on a short term it may keep climing up to 37 -40 since gold still in down trend direction.
DUST DUE FOR BOUNCEWe are due for a bounce up. Double bottom is forming between 23 and 25. If it breaks 23 then it negates the rally up and further weakens is anticipated.
