Jnug to Gold "nearly time for gold to drop into yearly cycle low

2 Dis 2017

I am not going to go into depth as I have in the past. I am frustrated like many have been with the weakness in gold and with this sideways chop. This is the worst kind of market to trade. That being said, I see the yearly cycle drop about to occur after we complete the short lived minor "e" wave in the wedge that we are in. I have my price target for gold. I do not think that the Rate hike in December is going to drive gold up much at all. So if I can remind you, there was a rate hike a few months back where gold actually dropped and did not rise like it usually does. I remember saying that I was wondering if the lowering inflation combined with a rate hike would have the opposite affect to real rates and tank gold instead of the other way around and that's what happened. So I am wondering the same thing this time. This hike could be the trigger for the yearly cycle low to begin. SO now lets look at the Jnug chart.


I believe that we started the new daily cycle for Jnug on the 30th and should have some upside for the next week or two. But after that, I think this thing will tank with gold into the beginning of next year. At that point it would probably be a great one to two month buy as it has been in the past with the beginning of the new yearly cycle. I am looking for the Jnug gap to fill down at $11.87 and probably bounce/bottom at $11.60 ish range. After that I will have to reassess the upside potential for Jnug. As some of you know, I have for the longest time now, been thinking that we are in a very large corrective B Wave for gold since the 2015 low. If I am correct then what comes next is the C wave down. I brought this idea up to a youtube guy named Ronnie Fatel. He disagreed at first which was over a year ago. Then as this B wave took shape over the last two years, I made the suggestion again. And low and behold he is now making videos about my idea. I kind of would have liked for him to have mentioned me but he has a business to run. You should check out his videos. They are pretty good for Elliot wave analysis.

The next chart is a cleaned up GLD chart which is essentially a trading platform for gold. This chart is the one I use to show my long term idea. This chart is also much cleaner.

So how low do I think gold could go. I am looking at sometime in late 2019 to 2020 for gold to bottom around the $612 range. Ronnie was guessing as low as the $400 range. The point of all this is.....if after the yearly cycle low occurs, and we get a short 1 - 2 month bounce only to start crashing, then at least you can consider my idea at that point. So lets see what happens to price in the early part of next year and go from there. You can hate my idea and have all the bias you want. But lets just wait and see what price does. In the end, that's all that matters. GL

10 Dis 2017

Nota

Gold on track following my yellow line

I do believe that we will move up just a little bit for a couple days after the rate hike but after that Gold will finish its yearly cycle low down in the box. That should finish with the "D" wave and begin the "E" wave (which I believe will be a zig zag again). I am looking at gold topping around the 1305 mark before turning down. We will have had three very long intermediate cycles when gold bottoms in possibly the first week of January and I am expecting a few shorter ICL's to follow.
(SIDE NOTE). I feel its important to say once again that a lot of big names are calling for gold to launch from hear and bust through 1400. They are saying that all gold has been doing if forming a rounded bottom and have shown similar patterns to fit this narrative. That's fine. I am not going to say "Absolutly not" to those ideas. Lets see what happens in February and/or March time frame because that should be the approximate time when gold either breaks out or turns down like I have been saying.

So for the short term...IF you are long and underwater.....you could sell for a loss a rebuy at a lower price as to try to get a better position for the E wave or just hold and ride this wave down and back up. I will probably buy Jnug when I feel gold is bottoming for the year. But I will be selling the zig zag move up and especially be out of gold in March to wait and see which way it will finally go.

Lastly...like I have said in the past...IF IF I am correct about gold falling...the move down will be super fast in my opinion. Everyone believes that gold is in fact in a bull market and will not drop below the December 2015 let alone the December 2016 lows. If we do in fact drop below the 2015 low...the amount of people who will be panic selling will be enormous. Either way I am excited. I kind of hope for it to tank to be honest. Not only because I would like to see my idea being correct, but also because I will be absolutely sure of what will follow. And that is one of the greatest gold bull runs in history. Also I would love to buy physical gold down at $600....maybe even lower. Ill cross that bridge when we get there. GL

Jnug chart below

Looking for Jnug to rise to mid $13 range and then drop to $8.20. GL