JDST Headed Lower?Looking for some good day trades in JDST coming week. Doesn't look like it has another direction to go.
JDST trade ideas
JDST - idea, Columbus week aheadI expect USD to increase over the next week or so and with that in mind gold prices will be lower. My idea would be to choose one day to buy JDST and sell at the end of the day. I don't like to hold 3X Leveraged ETFs for more than one day (overnight) because of re-balancing, Once my target price is reached I may sell and buy JNUG for the ride down. It is always better to wait for a clear confirmation signal before jumping in.
This is not a recommended trade, only an idea. These are highly volatile ETFs and I have had some good haircuts before... Lol...
Pay attention to the miners PA before any eventThis is nothing really related to the chart analysis.
Earlier this afternoon, Brainard had her dovish speech which stopped the bear gold for now. I was doing some scalping on JDST (bought in at $25 and sold at $25.5, around 11 am central time) By that time, gold was dropping from 1324-1322, theoretically, $JDST should've rise a bit. But no, both JDST and DUST were stucking there, $JDST even dropped down to $24.5 and almost triggered my SL. It all appears that miners are not buying this drop or they are waiting for the event. Then we all knew that Brainard spoke, gold got boosted.
Besides, if you trade Miners a lot, sometimes miners can be an indicator for the gold PA direction, it happened several times before. Miners acting against gold during the NY and gold follows the miners during the Asia market.
Just saying~~~~
Here's your potato~
