Strategy Description: Pretty basic play that I have nailed quite a bit. But just wanted to add in some comments on this bear flag which made me somewhat uncomfortable despite having sized down, and then how the bear flag can be used to get more size.
$50 was a really key level on NUGT in the morning and it started to trend down consistently towards $50 so a perfect time to get short with 50c risk (or less). At least half was covered on the move to $48 as it was a bit extended. In hindsight probably should have covered a little more because pretty obvious would get an opportunity to reshort.
As NUGT rebound it starts to slowly defy the trend, but still well below $50 with the general idea in tact for a consistent fade off until the end of the day. The gearing action starts and then as it fails that is the opportunity to reshort full size. With a trailed stoploss.
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