Comments on: /NG Natural Gas 1st Target Hit, Now Backtesting Resistance

By: wrrouman@gmail.com

wrrouman@gmail.com — Mon, 18 Jul 2022 15:09:00 +0000

In reply to Imadaytr8r. We all win some and lose some. This is a powerful-looking move on /NG, id be careful shorting just yet, and there might be a lot of short covering fuel left to run this up. The 61.8% would be the ideal spot to short with a stop above the 78.6% fib. The support resistance areas are lining up very well with the fibs I like to play.

By: Imadaytr8r

Imadaytr8r — Mon, 18 Jul 2022 14:11:31 +0000

In reply to TJS. UNG is like playing Russian Roulette with a loaded gun! Take a bat to my head for shorting UNG with Germany on the verge of collapse because the can’t get UNG!!!! SUPPLY/DEMAND ALWAYS TRUMPS CHARTS!!! ALWAYS!

By: Imadaytr8r

Imadaytr8r — Mon, 18 Jul 2022 14:07:55 +0000

In reply to wrrouman@gmail.com. Clearly you’re on the Right Side of the Chart on this one for sure! Send Randy your formula …

By: Imadaytr8r

Imadaytr8r — Mon, 18 Jul 2022 14:06:00 +0000

In reply to toddabauer. I’m out! Basically, my impression from Randy’s video is unless Putin gets assassinated this has nowhere to go but up. Looks to me like it’s burning through the negative divergences. Watch the last 10 minutes of Friday’s video and let me know your impressions

By: toddabauer

toddabauer — Mon, 18 Jul 2022 13:03:25 +0000

@rsotc can we get some thoughts on NG? Held short over the weekend. Busted trade or will this reverse soon?

By: TJS

TJS — Fri, 15 Jul 2022 22:38:42 +0000

In reply to Imadaytr8r. NG swings wild. Big ups and downs. So white knuckles and bourbon are the only way to make it through.

By: bunyz06rabbitt

bunyz06rabbitt — Fri, 15 Jul 2022 21:56:32 +0000

In reply to toddabauer. I’m looking at those yellow arrows suggesting a short trade in NG but getting/got slaughtered following those arrows. It would seem to suggest that KOLD is the instrument for a short swing NG position, but NG rallied huge today?!?!?....

By: budgetny

budgetny — Fri, 15 Jul 2022 18:37:41 +0000

NG has been very very good to me all week. Down 1,700 on the last trade, still up for the week. Moved my stop wayyyy up. Willing to ride this out, just let us know if or when we should stop ourselves out. Great week, despite the last trade.

By: wrrouman@gmail.com

wrrouman@gmail.com — Fri, 15 Jul 2022 18:35:33 +0000

In reply to Imadaytr8r. UNG hourly chart tells me we have more room to the upside short term based on a few things I look at. My objective short entry is in the red box, especially if RSI starts to diverge.

By: toddabauer

toddabauer — Fri, 15 Jul 2022 18:32:26 +0000

In reply to bunyz06rabbitt. Ouch. What's the plan here. Trust the process. Are we still heading down. Or is this a busted trade.

By: wrrouman@gmail.com

wrrouman@gmail.com — Fri, 15 Jul 2022 18:26:29 +0000

In reply to Imadaytr8r. What's your strike and expiration on your option contract?

By: bunyz06rabbitt

bunyz06rabbitt — Fri, 15 Jul 2022 18:22:18 +0000

I need NG down there at $5.93 where the yellow arrows are pointing.

By: Imadaytr8r

Imadaytr8r — Fri, 15 Jul 2022 18:00:03 +0000

Hey Randy, I blinked again this morning to sneeze or something and bam, lightening struck and I missed the few seconds NG glanced off T1! Now it’s almost $7.00!!!! Now I’m $300 down in a heartbeat!!! If these dang things are going to be one and done then please stop drawing arrows to T2 T3 T4!!! Hell, a switch to long at $6.40 made more profit on the “bounce” then the initial trade! So now, once again I’m out here in no man’s land curious if I should book yet another loss or wait to lose the other half of my options contract!

By: budgetny

budgetny — Fri, 15 Jul 2022 17:14:11 +0000

Rallied a dime since my entry. We didn’t break any resistance, did we? TIA