Popeye usually occurs as a result of physical injury to the eye (like bumping into rocks or getting caught in a net). It is also aggravated by poor nutrition and poor water quality. Your nitrates are kind of high, you should work on getting them below 20. Keeping up with water changes will help. I don't think trace elements will help -- water changes will accomplish anything the trace element additives are going to do.
Usually popeye will heal itself and go away on its own. If it doesn't, the fish can often lose the eye. If this happens, they can be fine, or they could also starve to death because they can't hunt as well anymore. I have a pajama cardinal that got popeye when I moved him from tank to tank with a net. He ended up losing the eye, but it's been about 5 years now, and he gets by just fine without it.
You can also treat it using epsom salt (1 tablespoon per 10 gallons). That will help with the swelling.