NUGT Bullish Breakout of Rising trianglePattern: Rising Triangle textbook breakout of resistance
Edge: There is bullish divergence in the money flow and it is breaking above the zero line. The "squeeze" indicator is firing today (red dots turn to green), which shows an expansion in volitily and indicates that price may start to move more drastically. It is firing "long" as the histogram is above zero line. Also, gold and gold miners tend to be more bullish when there is fear in the market as gold is a historical safe haven.
Risk Management: Bought at $5.19, stop loss at $14.15, PT1 is just below recent resistance high at $17 ish, and PT1 is at the gap fill around $18.80.
NUGT trade ideas
Positive Momentum Divergence and Uptrend ContinuationA positive momentum divergence ignited the uptrend channel we see in the gold market. After the drop it had yesterday we saw the support held right at the bottom of the channel, which is a bullish signal. Continuing on this direction a target of 21 is on the radar once the resistance is broken to the upside.
Long from 16.25Had anticipated a reversal in XAUUSD if the broader markets recovered and the VIX dropped with an increase in dollar strength, XAUUSD broke an hourly channel today and is now potentially forming a bull flag based on consolidation over the last few days. So if Xauusd continues higher I am expecting the Gold Miners to do so as well. Head and shoulders pattern on GDX has a target of 21.30 which is 7% above current value. Target for NUGT position is 19+ stop loss at current daily low of 15.50 as a positive open is expected based on XAUUSD breaking hourly resistance today.
$GOLD looking like a reversal bounce hereIf FEDs go back to the printing machine (further damaging of the monetary system), then would a sovereign hedge make sense?
I think the recent stock market volatility have made the FEDs think twice about being too hawkish. If my investment thesis is true then i think i'm seeing early speculation in #gold that indicates an alternative route to raising rates.
From a technical perspective i'm seeing a longer term rounding bottom/support and a most recent pattern failure (bear pennant). Underneath the price patterns i'm seeing high volume activity and so this could be early confirmation of a reversal. Let's continue to watch :)
Turning Point Coming.. ... Buy NUGT 3X Bullish GOLD ETF In important turning points in social and political behavior,
over the last 100 years, a fundamental sea change in
mass psychology which manifests itself seemingly almost overnight,
can and does impact financial investment suddenly,... with little warning.
I may be early,... and the technical pattern may not have turned bullish.. yet
but I am suggesting you consider an initial investment in gold right now.
Direxion's NUGT, 3 X Bull Gold ETF
is one of the most leveraged ways to trade
and participate in a potential bull market turn in the precious metal.
You must have the risk tolerance to trade a highly volatile deep liquidity ETF
and perhaps buy on weakness and hold position,
as bullish opinion on Gold continues to remain decidedly bearish,
Ultimately,, I believe you will be richly rewarded in time, by accumulating gold now, ahead of the crowd.
NUGT 12.95 Close 9/30/18
THE_UNWIND
Going for GoldI am not going to draw any lines on this chart but just to say that after the Jackson Hole surge on Friday, a solid follow through has failed to emerge on gold. The $1,200 psychological level is right here and right now. If this level holds, buy NUGT, JNUG or UGL (or GLD if you want slow and steady), but if it breaks, you may want to consider DUST or GLL. Review recent support and resistance levels above and below $1,200 for exit points of your triples. I suggest KITCO historical charts.
Gold Unprecedented Volume Spike - $1.7 BillionOver 82 million shares were traded in the triple leverage gold stock ETF (NUGT) on July 17, 76 million in 40 minutes, which is about $1.7 billion worth.
This is triple the previous record of 27 million on December 15th, 2016, after which NUGT doubled in two months.
Long?
NUGT 500% Upside Potential Long Term - Congested Wedge FormationWe're looking to get long this name in the $20 area although there's strong support in the $22 area we think it may overshoot before exploding up with a potential for 500% upside - please keep in mind that this is a LONG TERM trade. #trading #stocks #crypto #fintech #silver