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NYSE ARCA GOLD BUGS INDEX

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HUI trade ideas

Ending diagonal in the makingGold and gold miners have been on the uptrend since Oct 2022. I would label the rise as the 'C' wave of a larger expanded flat (ABC), red label. The correction from Oct 2024 to Dec 2024 is labelled as wave 4 of wave C. As it is widely known that C wave consists of 5 waves, with the overlapping of wave 1 and wave 4 as depicted in the chart, I will label this C wave as an ending diagonal. The drop afterwards will be swift and steep to complete another 'C' wave ( blue label).
NYSE:HUI
by brown_maverick
1
GOLD👑 (XAUUSD) KEY LEVEL TO WATCH 👀AND WHY 15 MAYTraders, in order to buy and sell, make decisions based on price history and use patterns to identify future price movements. Successful pattern trading requires the acknowledgement of identifying trends, consolidations, support resistance levels and reversal to place stops and targets to forecast price movements. Here i will discuss one of the key reversal patterns and present you examples of them: The basic ABC pattern has been a continually reliable trading signal. The ABC Chart pattern comes into many other patterns. If you look at the Elliott Wave, the beginning form of 0, 1, 2, (0A, 1B, 2C). The ABC is also named 1-2-3 waves. The ABC—exists in other patterns such as Gartley or the AB=CD, and can also be found in pennans, triangles, rectangles, head and shoulders, double tops, double bottoms. Anybody can learn how to recognise this ABC pattern and then trade it. They can actually use this knowledge to create a dozen more patterns because of its basic structure, which exists in a dozen or so patterns. Traders would be able to use the ABC Patterns knowledge in all market conditions across the board. That’s the critical part of trading success. When you identify the ABC pattern, you can embed it into other patterns surrounding it. Those are the patterns. For example, the pattern with the highest success rate that I’ve got in my research is the 121 pattern, which is like two ABC one after the other . The 121 can be a continuous or reversal pattern, and when it forms, the success rate is high. The ABC is one of the superior patterns to trade. ABC BULLISH PATTERN See example below: another example fiferent market Like I mentioned above, we can embed the ABC into other patterns surrounding it. For example: The ABC Chart pattern and its related AB=CD Chart Pattern are prime examples of "Symmetry" in the markets. These "Harmonic" patterns help traders to identify buying and selling opportunities in all markets and in all time-frames. The AB=CD Example below : OK, you may be getting overwhelmed by these patterns. Let's talk about DXY and why? One of the most popular indices to watch for gold investors is DXY. We all know or at last the majority of traders can use DXY in correlation with Gold, this means: if Gold price goes down, DXY price goes up. Let me put this into context... Yes, more patterns... DXY Double Bottom: Gold AB=CD Bearish We have identified our patterns and their correlation with other markets. Here, the analysis of gold could be beneficial in order to forecast the price movement. Let's take it further... what about relative to Gold? What other market could help us put everything in context here? HUI: again one of the most popular indexes to watch for gold investors, but different to DXY. HUI which consists of a basket of 15 gold mining stocks. The index is positively correlated to gold. This means if Gold goes down, HUI goes down. What do we have with HUI in terms of patterns? Well, since HUI relatively correlates in a similar manner, the price structures are very similar. HUI Chart Below: HUI chart we can identify a 121 pattern emerging, basically 2 abcs one after the other, with a price completion zone around 200. ​Let's take it further: Silver 121 emerging below This is my conclusion to look for beariness in gold next week from 15 may 23' Gold AB=CD Bearish, DXY Double Bottom HUI 121 Emerging Silver 121 Emerging
NYSE:HUIShort
by TradeChartPatternsLikeThePros
3
Expanding ending diagonal (extended 5th wave)Here's my analysis of HUI, gold bugs index. . In my analysis, wave (1) , (2), (3) and (4) all have 3 wave structure, with wave (4) more complex and time consuming than wave (2). This phenomenon usually points to a 5th wave extension. Another observation is wave (4) overlaps with wave (1), which leads to the possibility of an expanding ending diagonal. Following through this thought process, wave (5) should also be a 3 wave structure and it will usually be 1.618 times the entire move measured from the beginning of wave (1) to the end of wave (3). HUI has completed the AB wave and is now in the C wave of this extended 5th wave. I have used the end of wave (4) as the starting point for wave (5) and the target price is 1.618 to 2 times the entire move, more inclined towards the latter, around 100 price point. That's all for now
NYSE:HUIShort
by brown_maverick
Strong underlying momentum in Precious MetalsMy 5-7 year outlook. Amazing fundamental and technical picture for precious metals and for the gold & silver mining companies. They are very undervalued relative to the underlying metals they mine and the fundamental picture gets better and better. They're growing cash flows and making very large margins of over 35% on average. Inflation is here and the Federal Reserve & Government are trapped with rates near zero as the economy is beginning to roll over. Large debts of over 130% Debt/GDP necessitates interest rates remaining capped (Fed funds below 2% for at least 6-10 years). Fiscal spending to grow the economy with yield curve control and currency devaluation to devalue the debt load with ignite a commodities and precious metals bull market and cycle that hasn't been seen since the 1970s.
NYSE:HUILong
by Alexander_C_Lambert