Direxion Daily Gold Miners Index Bear 2X SharesArca
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If you belive gold will correct and the dollar will go up first half of 2023. Buying dust might be a opportunity. The setup and cyles looks nice.
I am waiting for volume and a swing low with short term avrages and oscilators confirming the move. Also the dollar must show strength. Last COT data must show signs that the smart money is flipping the trade.
For more simple great ideas fallow and like. I have had alot of sucsess in markets for many years and want to share my simple approch trough my ideas. NO BS, No selling you course and stuff like most of tradingview.
My style is based on cycles of diffrent authors, like bressert, gan and so on. Also the investing case must have fundamentals to support it.
Lets invest not gamble.
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We been fallowing the price for a while. I took a small position today. If it goes downs to the 10s i will add to my position. The timing band is verry close to a cycle low. Getting entries is always tricky. I sometimes enter and exit many times.
Price is very stretched below the 200 (4hours)ma and price always comes back to the mean, when stretch to far from avrage. That will be my target.
Majority is becoming bullish gold again, but cycles show otherwise.
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Be patient, we will get a nice enry with 1-2 weeks. But its getting closer and closer to cycle mautring.
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Price is now in our buy zone and soon in the timing bad for a low. I am looking for entry with price breaking the 21 MA.
Hopefully you guy didnt get in to early and sold off when it went a little lower.
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We got the break now and we look for a pullback to enter.
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Need to watch the pullback and the closing price. We enter with a pullback. Remmember if you get stopped its not big deal if your stop is tight. Just ry to reenter. Once you catch the big trend the small stoplosses wont mattter.
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I belive we are in the prices of making a short term bottom. The 21 ma needs to be broken. But it can go lower short term. The bottoms are choppy, and alot of pople lose their positions because of tight stoploss. If you have tight stoploss, then remmember thats normal. Your stop will get hit as you catch the wave up.
If you dont cathch the wave you need to look at your stoploss and position size and ask yourself if the stop is to tight, can you take the risk for a bigger stop, if not then you should trade something else. These 2xETF have alot of volitility.
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We need to watch the strength of the move next two weeks. Cycle is maturing and if its no strength the ods of the opposite trade increase into april.
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Closed the short dust idea with a 12% proffit. Alot of repporting coming in and there will be alot of volitility. I did not lik the price action and belive the downside will be limited going forward.
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Also the for two weeks now the COT data was not repported. On the offical site it says its because of technical issues. I just find it strange and i am staying out until they fix the issue and i can see what the big players in the markets are doing with their positions.
Remmember we dont belive this is a start of a beark market for gold. Longer term gold is up until june, shorter term we have some dowside pressure until march.
hey , do you think we can get it under 11:00 ?? gold ping pong /and dxy not strong at all =/
TradingIsNotGambling
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@TORNADOF5, Be patient, we do not need to be first. Gold is trending and alot of people will be sucured in a last phase. Sometimes the best trade is not to trade at all. We need evidence of trend ending. The entry is a tricky, but let price do the work, we do not want to lose money, awlays protect it.
And yes i think there is a chance for price testing 11s. My cycle system is saying high chance of dollar bottoming next week. So thats something to watch.
Also you can always enter and exit positions each day if you get uncomfortable, when you hit the entry, its going to be a bigger return anways.
TORNADOF5
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@TradingIsNotGambling, most my trades get to my stop :{ rarely i get to sell limit sadly /maybe cus i move my stop us as well / im still a noob , and hard to control emotions for me / thanks for you help :}
TradingIsNotGambling
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@TORNADOF5, Do not leverage your trade to much, its a trick the industry made to steal your money. Max 2x leverage and consistent gains every year. And never all your capital in one trade. Longivity is key. Remmember its a win for us if we dont trade or lose money. We must protect capital. Tops and bottoms are always hard to trade its very volitale, let others lose money and we go in when we are convinced. I will post when system generate date and but entry. Wathc some netflix and chill :)
@TORNADOF5, yea still waiting thanks spx got bullish omg how high they want to push them /crazy market
TradingIsNotGambling
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@TORNADOF5, Yes COT data will be important the next 1-2 weeks. We want to catch a trend to the downside or upside. No point in headech for small gains.
TORNADOF5
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@TradingIsNotGambling, your amazing man , thanks ,with every new teacher i get new hope