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maguila057
Mar 23, 2020 3:41 PM

NUGT: Time to Shine Gold (3X Bull) Long

Direxion Daily Gold Miners Index Bull 2XSharesArca

Description

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.

Comment

On our way to TP 2

Comment

After clearing $13, we´re on our way to TP2.
Comments
millitrades
any update?
maguila057
@millitrades, Target Profit 1 was hit 3 days after the entry.

The recent pullback was done without major volume which may indicate sellers are not motivated to bet against gold... but also buyers are a bit hesitant or cautious.

If initial stop-loss is maintained Risk reward is still good and this may still be a big winner- $10 is a key level, if broken it can run more aggressively. Stopping volume was pretty high and it still can indicate another leg up will come.

Also important to maintain a close look at gold: $1700 level is crucial for the sentiment.

Nice trade- but remember to be humble, the market can do whatever it wants to....1-2% initial risk per trade is crucial, and at the moment of having a profit, you can add while adjusting the stop loss level to maintain the risk-controlled.
Malongs
Following this closely
transparent-fx
I agree, gold is interesting to monitor
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