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NUGT P&F Bear Trap Slams Shut!


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#1 Rogerdodger

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Posted 29 July 2021 - 10:53 AM

This may have a lot of stored energy.

Nugt-Bear-Trap.jpg



#2 hhh

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Posted 29 July 2021 - 10:56 AM

What does "P&F" mean in this context, thanks.



#3 slupert

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Posted 29 July 2021 - 12:18 PM

What does "P&F" mean in this context, thanks.

https://schrts.co/sSEdsDyn



#4 hhh

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Posted 29 July 2021 - 12:26 PM

Thanks Slupert, I get it now that it's P&F levels transcribed to a candle chart.



#5 Rogerdodger

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Posted 29 July 2021 - 01:22 PM

Sorry that I didn't explain P&F. (I call it Caveman trading because of it's simplicity in seeing breakouts and breakdowns.)

If you scroll down to the very bottom of Stockcharts,com charts you will see:

 

PnF.jpg

"The old-school charts with Xs and Os that automatically filter out financial market noise"

 

https://school.stock...arts:pnf_basics


Edited by Rogerdodger, 29 July 2021 - 01:23 PM.


#6 steadyquest

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Posted 29 July 2021 - 01:24 PM

Does gold need a wakeup call?

 

gold.png



#7 Rogerdodger

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Posted 29 July 2021 - 02:43 PM

NUGT moves a bit differently than actual gold or miners.

I think it is more inhabited by short term day traders.

Obviously NUGT is at a resistance that might be broken...or not.

It could be reflecting the scorched shorts from yesterday's FED blab still exiting.

Today it stopped at that resistance and retreated a bit.

GLD had a "High Pole Warning" back on June 17th and is currently meandering.

 

Gold is up today ~$20  but is also drifting in a range.

(Yesterday's GOLD close:)

Gold.jpg

 

Edit:

Today's close  shows the next 2 resistance levels at 1840 and 1850.

Gold.jpg


Edited by Rogerdodger, 29 July 2021 - 06:39 PM.


#8 Rogerdodger

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Posted 06 August 2021 - 12:46 PM

Looks like yesterday's open was a bull trap on Nugt.

8/5/2021 P&F: High Pole Warning


Edited by Rogerdodger, 06 August 2021 - 12:48 PM.