Looks like I sold a bit early lol, oh well profit is profit!
NUGT/DUST
- Thread starter fxwizard
- Start date
Looks like it will be quite boring waiting for the next real setup. As far as I can see, the next real one will happen in NUGT though I can't rule out a smaller one in DUST after a significant pull back!
Well, as long as the market provides me with two real setups/month in this ETF pair, I'll be a happy camper!
Well, as long as the market provides me with two real setups/month in this ETF pair, I'll be a happy camper!
Btw, that counts as 1 fluctuation below 3.1 and back to it again from 2.8-3.13 NUGT close.
There might be several more of these. Also, setups like these don't count as real ones b/c: 1. I don't have the superhuman reflexes required to catch 'em and 2. It doesn't meet my requirement of 20%+ per trade for the risk I will be taking.
There might be several more of these. Also, setups like these don't count as real ones b/c: 1. I don't have the superhuman reflexes required to catch 'em and 2. It doesn't meet my requirement of 20%+ per trade for the risk I will be taking.
$UDOW, $TNA, $SPXL – These ETF’s are great buys and worth watching when the stock market is dropping hard.
Hmm, methinks next time I should move up my target, use the Angelic point as the most inefficient instead.
Anyways, that was the most run this most recent rally will get.
New viewpoint: I'm going to wait and see if it makes a new base to piggyback on the previous trend. Last time NUGT went up, it had base - rally - base - rally then decline. Should be the same pattern repeating...
Btw, base I'm looking for is approx around 3.20-3.30. With breakout/confirmation point around 3.30.
Anyways, that was the most run this most recent rally will get.
New viewpoint: I'm going to wait and see if it makes a new base to piggyback on the previous trend. Last time NUGT went up, it had base - rally - base - rally then decline. Should be the same pattern repeating...
Btw, base I'm looking for is approx around 3.20-3.30. With breakout/confirmation point around 3.30.
Confirmation point/base could vary as I don't know how low the correction will go. But that's not important. I really couldn't care less where the base will establish itself, but more about where the confirmation price will be set after the base is formed.
Anyways, new target price is 20-25% from confirmation point. From then, that will be the intermediate top. Think of it as an inverse Dow theory where there are two major uplegs to a bulltrend... And oh yeah, base could take 1/2 a day to a full day to setup up. For all that matters the confirmation price could be breached on Monday not today...
Anyways, new target price is 20-25% from confirmation point. From then, that will be the intermediate top. Think of it as an inverse Dow theory where there are two major uplegs to a bulltrend... And oh yeah, base could take 1/2 a day to a full day to setup up. For all that matters the confirmation price could be breached on Monday not today...
I didn't go. Yes, there was a bullish pennant that sat between 3.23-3.33 and broke out at 3.33. But I could hardly see it in the longest intraday time frame. The theory is large bases beget large rallies. Anyone tracking that pennant and went in, all the more power to you!
Anyways, it looks like the bullish pennant might morph into a wiggly "sine wave" formation. One of the most detested patterns, it could give you a high return rate but also a high failure rate as well. But we're in a bull NUGT trend, so it is most likely to be profitable!
(Btw, when I refer to a chart formation, obviously I'm not including the initial rise, ie. the bullish pennant that was basing around 3.2-3.3 obviously began yesterday from 2.8 and ran to 3.5, just to clear up any confusions.)
Anyways, it looks like the bullish pennant might morph into a wiggly "sine wave" formation. One of the most detested patterns, it could give you a high return rate but also a high failure rate as well. But we're in a bull NUGT trend, so it is most likely to be profitable!
(Btw, when I refer to a chart formation, obviously I'm not including the initial rise, ie. the bullish pennant that was basing around 3.2-3.3 obviously began yesterday from 2.8 and ran to 3.5, just to clear up any confusions.)
Last edited: