Take a look at the daily chart below.
Can you see the “triple-bottom” with a slight angle to the upside on the trendline? This triple-bottoms can only be confirmed if price does not penetrate the low of Sept 13th. For me, this represents a low risk trade. I bought a starter position today with a GTC hard stop below the Sept 13th low. Let’s see if I can hit the ball over the park “again” this time.
My 2 cents
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like it,,,the exact spot as the last “easy” trade in NUGT great risk/reward
Yes, the risk/reward is great; however, look like I may get stopped out tomorrow based on gold price being down $15 buck now… but the wind can shift dramatically in the land of gold miner. I just have to wait and see.
Thanks for the comment.
Cheers!
Good call, Zenhunter. What’s that – up 26% in one afternoon?
Thank you Hammer. Indeud! Let’s see if price action will allow me to sit on this one for the $100 roll.
Cheers!
still holding or did you take profit?
Regarding $NUGT, I sold it Friday morning so I was able to keep some profit; otherwise, I would suffer a losses since price action practically gave back all the gain from Wednesday jump.
You can see the posted trades at my twitter account if you are interested.
Cheers!