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.
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GDX double bottom stop run. Look for a reversal here.
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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.
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Next stop $1365 for gold XAUUSD. Resistance will be there, but we will push thru to a new high.
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GDX Outlook
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Looking for a 50% retrace of yesterdays gains to add to my NUGT position. BUY order in at $27.22
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Adding to NUGT and JNUG on this drop. Good spot to add 50% retrace of the big move higher. 27.22
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BUY the dip, NUGT and JNUG.
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H&S pattern in Gold, may see a dip before a bigger run higher
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H&S pattern appears to be breaking down. I will exit positions today
Trade 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.
