Direxion Daily Junior Gold Miners Index Bull 2X SharesArca
Description
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JNUG is ready for a strong rally. Trade red circle where horizontal support and channel support meet is the holy grail for this trade to be successful.
I suspect it may drop down and hit the lower channel support and bounce back Also, it may hit the lower support in RSI and bounce up. After the bounce up, BUY! if it breaches the support and breaks out, Do NOT buy.
*If either RSI or price channel is broken, we do not execute a trade.
Comments
updownnorthsouth
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Great spot on trade. Saw it at 10.20 but thought it would go lower. Now bounced .
danbar
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any thoughts on Jnug next move?
tonyra
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There is a gap from 10.10 to 10.50 ish, that has never been visited. Could it pull back to cover that range?!
JoshKou
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@tonyra, I honestly doubt it. But if it does, that means we would not buy since it would have broken the support levels I use to judge rallies.