Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG)

[Sendme]

This is a follow up on one of my earlier posts regarding double tops and bottoms, looking for an entry (link back for original post). I work full time so I am not able to always catch these moves in action, but congrats to those that did.

I am putting together some trade ideas for a double top/bottom strategy, and this is what I am penciling in for now. (will be doing some more back testing to confirm the strategy) But for now I like how it works.

This is a great video that shows the double bottom/tops

http://www.beatsloop.com/video/GEv9k1v9u0s

Short position ideas


Long position ideas


Break out strategy and target. (I am studying the double top/bottom more now as it could be used to enter a position earlier, with a minimal risk/stop loss target).



IMHO GDXJ and JNUG are very similiar when it comes to charting


Daily gold chart, maybe still in a consolidation pattern?


Weekly gold is set up nicely now