I think you should just chart the underlying instrument NG and let the subs make their calls on UGAZ/DGAZ. Charting the 3x can be very difficult and more often than not there will be those momentum overshoots. IMO.

Congrats! Quite often when nat gas perks up like this (sharp rallies & corrections that are pretty clearly telegraphed in advance by the technicals), it will continue to provide adding swing trade opps on both the long & short side so maybe we’ll get another setup that makes the cut for an official trade on nat gas again soon. For now, the R/R isn’t very favorable for a new long entry even though we hit my target as I am slightly leaning towards a continued move down to the 2.30ish level on /NG so if the charts confirm if/when it gets there, I might add a UGAZ long trade idea, official or unofficial, depending on my convictions.

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Congrats on those previous trades & g-luck on the UGAZ long. I’d put decent odds on whether /NG will bounce off this 60-min uptrend line or continue down to the 2.30ish support before reversing for a tradable rally. To quantify it, that would be a drop of about another 1.5% from current levels (2.329 in /NG) if so. Should /NG bounce off this TL & rally, the 2.39ish area is likely to come into play as resistance & could be used for an upside target, although you’d have to just correlate that level with the UGAZ chart.