NUGT is one of my favorite trades!
It’s a short-term trade that lasts about 6-7 weeks with a return of about 50-65%. I have been in a position since 12/26/17 at around $25.92 and it pulled back quite a bit this week but is still in the channel (see chart Below) but now shows early signs of support and I have adjusted my stop loss just below the new support today.
The one thing I like about this trade is that is has given me a 100% rate of success, and you can see more details of the stats for this ETF in my book.
The Federal Open Market Committee (FOMC) had already announced that interest rates will go up in 2018. And their next meeting is set for 30-31st of Jan.
ONE THING TO REMEMBER When interest rates go up so does GOLD! Looking forward to seeing the outcome of this meeting.
My Target is $42.41 in mid Feb.
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