Direxion Daily Gold Miners Bull 2X (NUGT)

[Rastignac]

I'm trying to figure out what the dollar is going to do. One possible scenario is that we'll get a right "shoulder" in H&S formation (or "short dick formation" as I like to call it).


On daily we have this ascending broadening wedge and a descending channel starting from the beginning of 2017.


Gold failed yesterday to break above its trendline which, in my opinion, explains the sell-off into the close.


GDX still inside this wedge but on the lower bound.


It's either a great time to get in or stay out :D I'm not selling my entry because I'll have more dry powder soon to average down if GDX pulls back.

GLTA!