Golden Trees of the Forest

Edward Hunt Has Had Over 100 Followers Rank: 11 Followers: 139 Votes: 368 Years Member: 8 Last Update: 17 January 2017, 17:28 Categories: Trend Analysis
Chart Patterns
General Market Commentary

Jan 17 > Jan 17 > 9:55 am > Sold JNUG at $9.13 for 12.5% / 4 days (including holiday) using the 3 min scalp chart. JNUG should have bounced up over a buck and did not. Rallies should be used to sell into. I am NOT interested in buy and hold, but to buy and scalp. or buy and trade. If you miss a rally, not to worry, more coming but not to chase... Resistance for gold is $1207. So far this year, results are great, listed under chart #1. Have a great day... A vote maybe?

Jan 17 pre market > Good morning.... Another new week ahead though short. Keeping gold positions over the weekend was a great decision. Today gold has taken a $15+ move to the upside. Here is my take on the move. One main reason is that Import tariffs will make our goods cost more with more dollars worth less. This is called inflation my friend. Many large trading houses must cover their futures and options gold short position now or have huge losses. . Good for the metals.
Jan 13 > 2:45 > For what it's worth.... The $HUI has now turned positive and the Renko chart (3 indicators) have all turned upward as a buy to give earlier day purchases merit. The lows around $8 and below was where accumulation was filled. Weekend almost here. Am I holding positions over the weekend? Yes I am...Renko JNUG indicators show to do so and the $HUI chart looks constructive. Nice comeback in JNUG and NUGT today. Markets closed Monday...M.L.K. day.

Jan 12 > UVXY has had a 5:1 reverse split effective today at $30.60.

Less

! ! ! ! ! ! ! ! ! $HUI - 5 Min 15 days

Jan 3 >..... Since Dec 30, two trades, 70+% on JNUG and 40% as of today on DGAZ.
Jan 9 > 25% on JNUG in two days.
Jan 11 > 13% on a one day JNUG scalp.
Jan 17 > Sold JNUG at $9.13 for 12.5% / 4 days

TOTAL 160.5% January / no losses

! ! ! ! ! ! ! ! $ jJNUG - 10 MIN 15 DAYS

! ! ! ! ! ! ! ! $ JNUG - 10 MIN 10 DAYS

Jan 6 Noon > The back test of JNUG and NUGT is now in play. $7.17 / $7.00 is the new 10 min channel support. So if you didn't buy yesterday, you get another chance today. Now you know why I said yesterday don't chase. So if the turn has come with gold, this is the shake out that must take place to take positions from weak hands. This will happen from time to time. Nothing goes straight up. Actually this is a healthy sign if this is the beginning of a trend change. So was the back test successful? By looking at the JNUG channel chart as of tonight, the test looks successful. Keep on the UBIO and LABU trades....Never become a bag holder, a profit is always better than any loss.
This is why support and resistance is so important. Once support is hit, wait for the turn up. If it breaks support, leave it alone. The JNUG resistance / support channel is plotting perfect. The 3 min JNUG scalp chart today was also just perfect.
Hope you bought some JNUG under $7. Did I? Sure did...

! ! ! ! ! ! ! ! $ JNUG - 10 Min 7 Day

! ! ! ! ! ! ! ! $ JNUG - 2 hour 15 day Renko, 1280

! ! ! ! ! ! ! ! $ JNUG - Renko Trading - 1 hour 6 Day Renko, 1280

! ! ! ! ! ! ! ! $ JNUG - USE THIS - 3 min Area, 1280

! ! ! ! ! ! ! ! $ JNUG 5 min 3 day Elder Impulse System, 1280

! ! ! ! ! ! ! ! $ JNUG 5 min 9 day Elder Impulse System, 1280

! ! ! ! ! ! ! ! $ NUGT - 10 min 15 Day Renko, 1280

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