NUGT trade ideas
NUGT - Falling wedge formation Long from current price to $57.37NUGT seems forming a falling wedge & at this moment reversing from the bottom of the Wedge formation. Ideal scenario would waiting for a break out of the wedge however we would consider a speculative long here at this area. Possible options play and am looking at $30 September Calls on NUGT 3.55 , $40 December calls $3.60
* Trade Criteria *
Date First Found- July 10, 2017
Pattern/Why- Falling Wedge formation
Entry Target Criteria- from current price ($28)
Exit Target Criteria- $57.37
Stop Loss Criteria- $23.23
Please check back for Trade updates. (Note: Trade update is little delayed here.)
NUGT more confirmed downsideI hope some of you made some money on this name. I mentioned for a few days if it stays under triangle, a short bias will work. I day traded it with the short side in mind today. I am not holding any overnight but I will look to short any ramp ups on Monday as long as there is no significant gap down. Have a great weekend!
NUGT holding below triangleI'll be looking to go short around the $28 level and really add if it can break 27.50.
NUGT down trend becomes more sure if we have another down dayNUGT coming below the triangle. Another down day and I will look to get short.
Bat Pattern on NUGT ( in a symmetrical triangle)We can clearly see that the stock is following a symmetrical triangle pattern. The stock has been oscillating between these two lines for months now. There is also a BAT pattern in formation at this very moment. I would buy in the 30$ area on monday and sell in the 34$ area few days later.
NUGT breaking down premarketNUGT breaking down from the triangle I mentioned yesterday. If it continues downtrend today, you can try it with small size. Don't add to the position until trend confirms as it could just have one or two candles peek out on the daily before sucking everybody back into that triangle.
NUGT still stuck in a triangle pattern but almost readyNUGT stuck in a triangle pattern almost all year so far but I think we are getting close to being able to see which side of the triangle it is going to break out of.
Gold Finger or Fat Finger?Basic idea that gold may go bullish soon. Nugt hit the 50 SMA daily today and bounced negative. Still, I think gold should go bullish shortly and nugt should go towards the 200 sma daily. They're blaming a fat finger trade on gold decreasing in price. I guess they ran out of other things to blame it on. Comical!
Butterfly pattern on NUGTIt might be time to go bullish on gold ETFs. The pattrern is clear and if the stock doesn't break below the 0.786 fibonacci level ( from X to A), the odds of a bullish rally are in our favor. It might not buy today because we are friday, but i will definetly look into it monday morning.
gold will be complicated the trend is not funnyInterest rate seem to be the trend changer. So i think i will waite the interrest rate to take a position. it is so easy to be out play by this market for now.
Sometime we just observe and follow a plan. for now i will wait th rate decision.
LONG NUGT 34.40Went long NUGT yesterday. low risk vs high reward with tight stop. Gold seems to be breaking out, potentially pulling miners out of recent few moth downtrend. Resistances in neon green lines. will add on break out of descending triangle . $NUGT $GDX $XAUUSD
Fewer non farmers may mean greater Gold prices near term. Expecting a positive reaction in the price of XAUUSD tomorrow from a negative NFP and lower move in DXY. Positive price movement in XAUUSD may break the current daily resistance lines and approach the longer term resistance zone for another attempt at breaking the downtrend. Will turn to DUST if GDM falls below 620, for now, in my opinion it is holding and forming a potential bull flag. Near the Money Call open interest sum 7262 Volume sum 5475, Put open interest Sum 5585 Volume at 1915. Hypothesis is that the difference between call and put volume today and all of the aforementioned reasons will cause an increase in the price of NUGT and GDM
Rise and shine, or snooze and loseGold had a pretty significant down day, resulting in a sell off in the miners to a prior support level. Will be using the opening position to determine potential path for tomorrow. An opening above 34.50 may result in a push towards the prior resistance above 36. A lower open below the prior support level of 33.71 may result in an initial upward movement into new resistance. If the lower open occurs will be looking for an upward movement in NUGT and enter DUST with a stop limit entry once the prior support level is lost. If a higher open occurs will be looking for the support level to hold and will be long NUGT with a stop loss at 33.71. Either way Gold and Miners are showing weakness but may move higher near term.
Thoughts for the rest of the week 5/19Uptrend managed to hold, but did not exceed the prior resistance level established on 5/15. Looking for a break outside of the open 39.54 or the close of 34.97 to confirm the momentum for the remainder of the week. Currently leaning towards a short position from the inside day. Will be looking for a break in either direction to confirm swing trade.
