If you have cash, and have been sitting on the sidelines, here's a low risk opportunity. I know its hard to chart NUGT (3x) its better to track GDX. BUT, the trend line looks to be support. GDX is having a stop run below a double bottom. Im buying NUGT today watching intently for buyers to come into the market and wisk this 3x higher at the close.
Note
GDX double bottom stop run. Look for a reversal here. Note
NUGT nicely moving higher. Looking for a 61.8% retrace to the box as the target. There will be pullbacks along the way to add on. May get one today. Buy the dips. Note
Next stop $1365 for gold XAUUSD. Resistance will be there, but we will push thru to a new high.Note
GDX OutlookNote
Looking for a 50% retrace of yesterdays gains to add to my NUGT position. BUY order in at $27.22 Note
Adding to NUGT and JNUG on this drop. Good spot to add 50% retrace of the big move higher. 27.22Note
BUY the dip, NUGT and JNUG. Note
H&S pattern in Gold, may see a dip before a bigger run higherNote
H&S pattern appears to be breaking down. I will exit positions todayTrade closed manually
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Im still holding this, the H&S pattern still intact.Trade closed: target reached
US Dollar pushing higher. Looking at the hourly chart, trend line break and higher highs. Looks like the H&S pattern is failing, and a bull flag AB=CD pattern may emerge.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.