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I don’t trade gold very often, which is kind of funny because I’m a gold bug at heart. I was joking with Jack the other day on the show about how if he and I were at a cabin together, he’d probably be out fishing while I’d be out in the dirt somewhere panning for gold.
I love the stuff. But even with that love, I’m extremely selective about when I trade it.
In fact, I’ve only made two really BIG gold trades in my entire career. Both were home runs and both came from the exact same pattern — a rare pop, retrace and breakout structure that comes straight out of the market cycle work I’ve done for years as some foundational parts of my repertoire.
It pulls from Elliott Wave concepts, Fibonacci levels and the way price reacts around my Market Roadmap line. It’s the core of what I do and when this setup appears, it tends to mean something big is coming.
The first of those trades carried a lot of emotional weight. Back in 2017, my mom lost half of her inheritance to a Ponzi scheme. She knew better but she trusted the wrong person and was devastated when everything fell apart.
She was embarrassed, hurt and wondering what she had done, and I told her I’d make it back for her.
In November 2018, I saw my reversal pattern setting up on Barrick Gold (GOLD) — which is now Barrick Mining (B).
The stock was stuck around $8 but the structure was unmistakable. I bought her a stack of January 2020 expiration, $12 calls — cheap, long-dated, high-conviction LEAPS — somewhere between 30 and 50 contracts.
The pattern did exactly what it should have. GOLD ran from $8 to over $30 and that trade made back what she lost. But that was just the start.
From Recovery to Life-Changing Wealth
In 2020, I rolled her out of those GOLD calls and into what became the single best trade of my career. As COVID hit, I went long volatility and short on iShares MSCI Brazil (EWZ) and other names that needed people to show up in person.
That one took her roughly $200,000 account and turned it into more than $1 million.
She was thrilled and relieved. More importantly, she trusted me after everything she had just been through. She even told me she would rather let me handle things from then on, which meant a lot after watching her confidence get crushed.
Fast-forward to late 2024. Gold was heating up again and my mom was about to give money to some gold traders. I practically begged her not to repeat the same mistake. I told her if she wanted gold exposure, I’d do it for her — but I’d only do it when the timing was right.
Then the same pattern appeared again.
The Same Setup, 6 Years Later
In November and December 2024, Newmont Mining (NEM) printed the exact same reversal structure I’d seen on GOLD years earlier. Same rhythm, same retrace, same pressure building beneath the surface. I bought the January 2026, $60 calls in December when the setup confirmed.
I grabbed 10 contracts for my mom and a batch for myself.
Here’s the part I’m not proud of: I sized my own position too big. When the stock pulled back in the early stages — which is normal for this pattern — I felt the squeeze and had to dump part of my position around breakeven. My mom’s account, though, was sized correctly so I kept her position on without flinching.
That difference mattered. When NEM surged into the $80 to $90 range, those $60 calls were worth $20 each. I closed her position for a $25,000 profit on 10 contracts.
That’s what proper sizing does. Even the right setup falls apart if you get greedy and place too much weight on it. I slipped, she didn’t — and the result speaks for itself.
And just like the first time, the pattern worked perfectly. But that’s the thing about this setup. It isn’t something you can chase every month or even every year. These reversal structures show up every five or six or seven years.
They’re rare — more like a Halley’s Comet event than a weekly opportunity — and they only pay if you have the patience to wait for them.
One more thing worth mentioning. If you compare SPDR Gold Shares (GLD) with the S&P 500 (SPY) across long stretches, gold has actually beaten the stock market at times. Most people overlook that. They assume gold is slow or boring.
But when it moves, it can move with power.
I nailed this pattern twice for my mom. The first time rebuilt what she lost. The second time rewarded her trust. And both times reminded me that even with experience and skill, discipline and sizing still make all the difference.
Jeffry Turnmire
Jeffry Turnmire Trading
I host my Morning Monster livestream at 9:15 a.m. ET each weekday on YouTube, and then 30 Minutes of Awesome at 5 p.m. ET each Tuesday!
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Important Note: No one from the ProsperityPub team or Jeffry Turnmire Trading will ever message you directly on Telegram.
I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.
I’ve been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it’s the Eagle Scout in me.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. CashBot Is Prepping the Next 3 1DTE Trade Setups!
I want to hand you the top-to-bottom rundown…
Of how CashBot was able to fire off high-frequency income trades like this…
