123Tom's TA study group

[123tom]

That sounds like a good idea.


you want to do NUGT/DUST ? I can study the charts some more. and set up my paper trade.
I looked at them yesterday for a while. My current bias is thinking upward for GDX /NUGT to hold support ,and try to rally again. IF I want a short term trade,lets say one good day in and out. youre basically looking to buy that pivot low somewhere, and if you timed the guess right, the good bounce gives you a nice pop and you sell at the end of day if its the target area, and be happy with it. even though the patterns show that the fuller move might play out over the next 2 or 3 days. you just want that first day/best day, something like that. is that right? (My swing pattern mind would be hoping to see one more good day with maybe a neutral day in the mix. (The patterns seem to play out this way, why not trust the patterns is the question)but I do see the value of having profit to take and be happy with the money.

I saw a few good bounce days on the NUGT chart in recent months. they dont happen too often, maybe once every 2 weeks . If a determined active trader wanted to stay on the roller coaster up and down they could probably find a few trades a week, some DUST some NUGT.
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For a short time frame one day trade,I'd be wanting to use the kind of indicators you use, the 4/8/10/14 EMA's that sort of thing. and confirming entry with the very short time frame candles 1 and 5 minute. do you also watch the open and close points on the 1 and 5 minute as well? I usually use candles, for swing trading patterns, but I could use OHLC if those work better.
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Do you use a combinatiom of EMA and SMA ? (I'm sure youve posted your set up here somewhere, I can try to find it again...)

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Do you watch any news that might affect the gold and miner sector? like the recent Iran mideast skirmish events?
They seemed to spook the metals and miners this past week or so.
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I'm going to maintain my swing pattern mind set as my main focus, but to play the NUGT/DUST for a day or two, I'll narrow the vision to the very short time frames. and then show you my set up.

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From looking at the charts the other day, I'm thinking the GDX may pullback to retest the key moving average area around 27.50 ,as the area I want support to hold and I would enter a position there. On the swing pattern, this support zone, for GDX is a major swing pattern support zone that could hold and begin a major swing upwave to the target around 35 and 40 area. The major bottom around 26/27/28 is what I'm looking at in the swing pattern, with rally target peaks around 35/40/45/50 area. in the next bullish cycle, and as Gold continues higher in 2020. I could bewrong of course. and if it stalls out in a sideways pattern maybe the range will be 26 Bottom and 36 top with 30/31 in the middle and alot o sideways zig zag for 2020. Thats a possible pattern as well.

Last year, I was looking to see the pullback retest GDX 25 area, but it held support at target 26. The pullback pattern did what I forecasted but just didnt drop as low as I thought it would.
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I Do think the bottom zone at GDX 26 looks like a solid bottom formation. I;m looking for 27 to hold and an entry maybe around 27.50/27.75 area if it makes another drop down. a bounce here at 28 to resistance at 29 area and the next drop down from 28.75 area to 27.75 area would be the swing pattern here. a finished pullback, that targets the 27.75/27.50 area and the entry there for the next upwave to climb in 2020 to the 33 and 36 target zone,

Swing pattern heading upward after developing the bottom base at 26