After the morning gap on $NUGT, the wind has spoken. After a bullish engulfment, we got an inside bar or harami. Today, a gap up that took out the high of the inside bar is a confirmed bullish stance. Not only that, $NUGT also took out the previous high of two days ago. Based on these past few days of price action, I think the probability of gold finding a bottom is getting stronger and stronger.
Of course, I bought back my $NUGT despite the gap up. Sometimes, I’ve to go with the flow.
Below is the 15 min. chart of $NUGT. Isn’t it a beauty?
My 2 cents.
If you enjoy the content at iBankCoin, please follow us on Twitter
Oop! Spoke too soon on $NUGT. Nevertheless, I’m putting a GTC hard stop below yesterday low to give this one a wider berth.