April 29: Pt II

The 3x Gold Miners ETF (NUGT) sets up as an aggressive entry either above the four-day ledge high at 72.56, shown below, or above Wednesday's high of 69.96 (preferred). Notice how the last breakout of a five-day ledge held up and the tightness of price during the last two consolidations.

It has been a challenge to find attractive setups among the sector ETFs due to their runaway nature. If need be, I am prepared to use more than one entry in NUGT in order to gain a foothold into this vehicle. If you are interested in this setup, please manage your risk accordingly.