Golden threat or golden opportunity?

I continue to look at the charts from every angle  I can think of in order to avoid being surprised by market outcomes.  By at least acknowledging the potential for something to happen I can set up triggers and strategies that help me step over land mines and dodge bullets.

While the conventional wisdom is sure that the bottom is in for gold and thus for miners, I have not yet seen strong charting evidence of this.  In fact, let's look at the recent action in the junior miners. I can count this as 3 solid waves down which are now tracing out a 4th wave which could go lower in early January to finally find Avi's GLD 105 target.  No, I cannot forget that until I see strong evidence of motive waves going up and as of yet I have not seen this.

In fact, these look like internal threes.  From the low of 3 then a-b-c into blue a, a-b-c into blue b, etc. I personally see this as an opportunity to trade these internal wall bounces with JNUG because we are talking significant percentage swings here.  Also, we know the likely angle of the top line which is as shown.  If the chart stalls here, just sell.  If it can subsequently break out, buy back in.  It's that simple.  If it cannot break out and must go down again, wait for the bottom and hit it again.  Finally if you get the throwover and then break back down not only is it a sell signal but a "go short with JDST" signal because we should expect 5 more waves down if that happens.

Of course, a break out of the top rail with a gap, etc. negates this fear.  Or since I will have seen it coming a long way off, this opportunity. For the record, the very best thing that could happen is the 5th wave down scenario because of the super high probability that it would be a solid bottom.  The 4th wave is a key frame that, once confirmed, gives additional confidence in your bet that is almost impossible to find anywhere else in the wave count.