Jnug to Gold 3/31/17
So I went ahead and measured the micro wave 1 and copy/pasted it to the bottom of wave 2. As you can see the purple line with the blue arrow pointing at it is the exact measurement of wave 1. So I believe that we should at the minimum reach that line by tomorrow. But I am really hoping we get to the grey box just below the #3 to end the wave 3. I am probably going to move my sell order price for Jnug down to 7.50 just to be safe.
This is very early in the day to say this, but it appears that we wont drop lower than the 6.75 - 6.73 level as that appears to be the top of wave 1. So I updated the chart to show where wave 5 could possibly extend to tomorrow. I once again measure wave 1 and copy/pasted it from the current bottom of todays candlestick. As you can see, that would extend to the 6.53 range. But don't get your hopes up that everything will work out perfectly. It rarely does. So if it appears to get close and is running out of steam, it may be a good time to sell and take profit. A real good extension to this wave 5 would reach the 100 DMA at approximately 7.65. Then into JDST. GL
But I actually do feel that today was wave four and that we have already started wave 5. So I guess tomorrow will let us know what is going on.
So back to Jnug. Depending on how strong gold moves the next few days will kind of dictate how deep (or shallow) the end of cycle drop for Jnug will be. So I will post a chart as to what we could expect. I highlighted the shallow drop Jnug had for the cycle that ended on 1/26. But at this point I am just not sure. So I will be watching to see how it works out.