Now that gold seems to have completed 5-waves down I am asked repeatedly what you should buy. This blog cannot give advice because, for one, I have no idea who you, the reader, are. A basic tenet of the “know your client” or KYC philosophy. Having said that and assuming you are highly disciplined, a totally hypothetical case as neither you or I are, then these two ETFs come to mind.
Gold dropped from a high of 1922 to a low of 1140 or so, a total of roughly 800 points. A normal retracement target would be roughly 38% or about $300 which would bring us to 1440. Applying that to gold ;
we find that that brings us back to roughly August of 2013. This just happens to coincide with the high points in both the triangles on the HGU and ZJG. Keep in mind that the HGU is supercharged being levered 2 to 1. If you are confident what is there not to like? I have left the charts at similar sizes so you can move them around and compare.