Don't blink or you might miss the exact bottom on [GLD] [JNUG]

In the backlink I provided the chart below.



I continue to count the item within the blue circle as GOE.  This assumption drives everything in the chart below that point.  There should be 5 waves down from green B in order to get to wave blue 2.  I currently count black 1-2-3 and 4 or part of 4.  4 can do anything it wants to do here EXCEPT go back up into the range of black 1 so if that happens then this exact count for wave 2 is busted and we need to consider other potential wave 2 counts.  But if we get the move downward shown to either the 61.8% fib or the level of the prior 4th or even in a worst case the 70.7 fib, and if it happens in 5 waves down, then we have to accept that the model is correct.  In other words, buy something golden at that point.  And then, once invested, set your stops just below your buy point.  If you get taken out it will be for very small money and you can have another look to see where your count went wrong.  If however you don't get taken out then you timed the bottom perfectly and so you can just sit back for at least 2 weeks and perhaps up to 3 weeks and watch the C wave go in.

Keep in mind that the bounce targets are already in place in the chart's history.  After 5 waves down, the target is to retrace to the level of the prior 4th whatever it may be.  Well, if this is wave 5 down of a large motive wave then we should see a move to the prior 4th and in the case of JNUG that was $48.



If you are going to play this bounce with GDXJ or JNUG,  it is very, very difficult to catch the 5th of 5th of 5h.  There is in fact room for interpretation of 1 level of waves that I can see in the chart below.  So the rule of thumb I am following at this putting green will be to buy any sudden stab below the lower rail that subsequently comes back up into the channel.  Conversely, if it breaks out the top of the upper rail here then go on high buy alert.  If it goes above $7 that is pretty strong confirmation that the next upwave is beginning. 

Our BEST hope would be a clear 5 waves down in GLD as shown above that drives GDXJ and JNUG into  the dirt one last time.