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Saturday, February 8, 2020

Direxion Daily Gold Miners Index Bull 3X Shares (NUGT)

NUGT 60 minutes

Use 8/21 EMA crossovers to buy/sell

Confirmation V/S Price
NUGT moves around a lot and the EMA crossovers can create false signals/whiplash. One can wait for an entire 60 minute candle to clear the 21 EMA for confirmation, but that will not give you as good a price. The trade off is confirmation versus price.
After the 8/21 EMAs' cross, I do not wait for any further confirmation, rather I take the signal at that point.


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