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Price Targets for NUGT GDX Trade Idea

price targets for the NUGT short will be based off the GDX chart as follows:

T1=23.32, T2=22.39 and T3=21.52 with a suggested stop on a 60-minute close above 26.10 GDX. Additional charts & updates will follow soon.

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May 18, 2016 2:37pm|Categories: Completed Trades - Short, Gold & Commodities|Tags: , |3 Comments

3 Comments

  1. snp May 18, 2016 3:32 pm at 3:32 pm

    congrats on a great trade

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    • rsotc May 18, 2016 8:37 pm at 8:37 pm

      Thx snp, although I try to avoid giving or receiving congratulations on a trade until it is closed out. As we all know, paper gains can evaporate faster than a water droplet on south Georgia asphalt in the middle of July.
      With that being said, profits are all but assured as I was fortunately enough to (so far) nail the top on the NUGT short the day it topped, back on May 2nd (began scaling in that day, as posted here in the trading room: http://rightsideofthechart.com/members/rsotc/activity/8104/ )

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      • snp May 19, 2016 11:38 am at 11:38 am

        understood. a nice big red candle is vindication and technical damage.

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