NUGT ready to break out NUGT is in a wedge formation and looks ready to break to the upside on the open. If gold shows weakness overnight, it bounces off overhead resistance and looks to test 28 one more time.
NUGT trade ideas
NUGT setting up for next leg up?RSI and MACD appear to be poised. With all the macro economic uncertainty and a slowing economy gold looks like its's ready to party like it's 2011. An accommodative fed and trade uncertainty also help. Great swing trading vehicle.
NUGT: If you followed me on my past NUGT plays...you would have made shit load. Acknowledge that atleast.
When sharing becomes load...sharing stops.
NUGT Slant Head-and-Shoulders Gold should break below $1500 in the coming week to complete the right shoulder and then collapse into the handle stage. Looking to buy back in around $19. After that the moons the limit...
Bounce comingDaily and weekly bearish just slicing through support like its not even there. Oversold bounce coming to create objective short term buying opportunity and after bounce potential objective bearish entry.
Roman Empire Returns In Gold Market- Binge and Purge Like the near-term short setup on OANDA:XAUUSD Gold here. The stars align for NUGT at a target price $32-$33 USD
having a look at the 30 min chart, we have a convergence of indicators and patterns at the 100% Fib + head and shoulders target price + recent low + trend line.
Good Luck. Nice entry point for a long positition at the TP as well.
NUGTNice supports down here 35 psychological and then 32.50. Accumulation remains decent compared to our previous low. If you have bear miners position maybe cover some.
NUGT/GOLDI absolutely love this area for a lower high/double top. Intra day action still favoring the bulls but eyes wide open for an entry...
I'd be watching for a clear bearish diversion/ a bear break of the recent tightening patterns up here. That would increase the odds of this being a lower high. Hard to be bullish at these levels, anyone agree?
GOLD bearsUnable to post from the 5m time frame so you'll have to look yourself. The first one was a bear flag. 2nd time was a trend change with no followthough.
GLD was still weak while NUGT probably had more shorts covering. This signaled that the trend change was just another lower high...
NUGT: ~44.91 by Late MondayGold has soared and broken downside consolidation & resistance based on what will eventually be a double cut (ECB/Fed) cut in September contingent on an extreme escalation in the USA-China trade war.
I will refrain from going into too much detail for my reasons and the specifics to avoid redundancy. Please check my numerous and incredibly accurate predictions on Gold in my profile.
My Monday target is 44.91 as a conservative value which represents a further 10.96% increase from Friday. A potential (but not for certain) target will be 47.38.
The race to the bottom for currency is on. Long Gold/Silver in a big way.
- zSplit
NUGT Round UpNUGT is forming a round up pattern, looking to complete at the old high of $41.5 range. It had a strong day movement upward as it closed over the 9 and 20 day moving averages. Looking for this to keep its momentum for a potential 12% move, being that this is 3x Gold ETF mover I expect it to happen in the next several days with the low of today as my stop alert.
NUGTNice pullback, need to hold 33.61 to keep uptrend intact. Dollar strength is not helping gold today.
NUGT SnapbackNUGT just broke out of resistance and went parabolic to the upside, making it overextended. It is overextended in the Bollinger band and the stochastics on the daily as well as the weekly timeframes. It also ran into its 200 sma at the $36 level on the weekly chart. I'm expecting a cool down with a 2-3 day pullback. This should only be a 2-3 day hold to catch pullback profit, beyond that it can rally again to the upside.
Gold stock index bottom late May and projection Sept 2019 highocillator projections, late May low predicted in march looks correct now, so rally into late summer should unfold now.
