NUGT
Short GDXJShorting GDXJ from $37.17 with a target of $27.86 to $30.00.
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I believe that with markets potential to fall we will likely see another round of weakness, even if briefly, for the miners and gold in general. The potential for more profit taking or selling for margin have been greatly increased with the rapid rise in GDXJ over the past week and with markets at approximately 50% retracement levels from the highs respectively. If you feel unsure about shorting gold in this bull market you are smart, this is for risk oriented traders. If you are not going to short you may want to take profits for the time being in hopes of buying in lower. I would not look buy back in until either lower prices or up trend is certified by price action as intact (potentially even breaking past prior high). One can short directly, via puts, or even through JDST. Happy trading!
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WEEKLY AND DAILY RSI DIVERGENCE (BEARISH)
WEEKLY CANDLE'S NOT LOOKING GREAT
DAILY CANDLE HAS GAPPED BELOW THE 200 EMA CONFIRMING A BEARISH BIAS
Trade Journal: Long $NUGT - 4/22/2020Gold has been consolidating right above the recent highs, since bottoming out last month, and looks prime for a breakout. I went long this morning right at the open on the gap up. Really like this pattern occurring in GOLD which could pick up some momentum near term. GDX is also a valid play for less risk.
Entry - 12.10
Stop loss - 10.90
Target - 14/17.50
Watchlist ideas - 4/21/2020 - $NUGT $APT $WMS $DISGold has been a very volatile commodity last month but looks like a recovery is in the midst, $NUGT looks good for another leg up here. Long above 12 with a stop loss at 10.48.
APT, a coronavirus play, has been consolidating right above the rising 5DMA. I think APT is right about to lift here. Good above 14.75 with a stop loss at 12.85.
WMS, a utility stock, has formed an inside day right below the 200DMA. Yesterday's up day was on very high volume so today's action would be a clue for further upside in the near future. Good above 36 with a stop loss at 34.20.
DIS has formed a very nice looking base on the 65m timeframe. In terms of relative strength, DIS has been relatively weak and beat up. Regardless, this could be a good long above 108.
NUGT: Time to Shine Gold (3X Bull)Time for metals to shine?
Extreme volume in a very peculiar bar.... seems to me like big ol´accumulation by smart guys.
Low Risk High RR Trade guys.
Gold Prices vs USD Index (Gold Prices correction)Gold prices will catch up USD index. For that, gold prices will drop to $1400 or below.
Gold corrective leg down?$gdx $gdxj $nugt $jnug $jdst $dust $slv $gld I'm bullish on hard assets- watching for possible leg down. A higher high will invalidate this.
GOLD mixed price action between GLD and Gold minersWeird price action for GLD last thursday, as gold futures were up 2% and GLD was only up 2.6%. While senior gold miners index were up 10%, such as NUGT or NEM exploded for 13%. Possible bearish triple top or bullish Inverse Head and shoulders? April 7 COT report was mixed as well, Non-Commmercials were Long, while Commercials were short. FOMC is not for 3 weeks, maybe pull back to FIB .236 ($153.69) Happy Trading!
GOLD (XAUUSD) preparing for MAJOR SELLOFF before true breakout!!Cycles analysis indicates one more major deflationary move to occur. A selloff approaching for XAUUSD down to support levels near 1380, as well as a retest lower for gold miners. To be followed by a longer term major buy setup for gold. Let's remain objective and not get too excited just yet!!
GOLD LONG )(NUGT)Whats up Traders
Im setting up a gold trade, using NUGT . .
Buy Stops Using the Bulkhead Method to catch the wave (more buys as price goes higher)
25% position purchases across 4 buy stops above the bull flag....is my method here
Set a tight Trailing Stop for the entered positions, up to 5-6%
Target Box Shown as Pink Rectangle.
I like Gold Sentiment, I like Gold to lead us off the bottom, I like Gold ;)
Good Luck.
GDX just got my attentionI believe the miners are undervalued and stand to do well moving forward. Gold and silver have shown their stability through history and remain solid in my opinion. I see a lot of potential in the miners.
(renko blocks are not playable so I'l have to post updates below)
Looks legit, anyone still in $DUST ? - $GLD $NUGT $GDX $GDXJ Gold miners are clearly worthless now that gold is down 10% from the high.
Does anyone know who planned this event?
I like the miners and the things they mineminers have re-entered my "I'm interested" zone. I think 2020-2021 has very good things ahead for the miners and the things they mine exciting $nugt $dust $gdx $gdxj $jnug $jdst sorry for the ugly chart
GDX - support zone3/1/20. GDX 4 hour charts
I issued a warning on 2/23/20 of Risk v Reward. At the Friday low, GDX was down a bit more than 20% and NUGT was down a bit more than 50%. I FEEL for all those people who jumped in at the last leg and getting burned but that's how it usually out. Identifying Risk vs Reward and Resistance zone vs Support zone is important.
Two target price ranges in $NUGT based on $GDX resistance levelsOverhead resistance for GDX is to be found at $35.50 and $39
Assuming that GDX reaches these levels over the next 2 to 4 weeks $NUGT could reach $53.50 and $64.80 respectively.
GDX will open above $31 to $31.79 resistance which puts $NUGT at $42.0 to $42.70
Daily RSI will indicate a hold long.
