After closing out the /NG (natural gas futures) long just shy of the downtrend line + 3.60ish resistance earlier, I’ve decided to short it here on the full tag of those intersecting resistance levels with a stop somewhat above (& close out by end-of-day, win or lose) & just wanted to share the trade idea for those interested. Updated 120-minute chart below.

NG 120m 2 May 2nd

NG 120m 2 May 2nd

My preference to close the trade out by the end of the day has to do with risk management, as natural gas futures will close trading later today & not open again until Sunday evening, adding extra overnight risk & increasing the chances for a potential sizable gap against my position. By shorting here at dual resistance (and my final price target on the recent long trade closed out today), I can keep a tight rein on any potential losses with a stop not too far above the downtrend line. However, depending on the price action for the remainder of the day, I might decide to take home a fractional position while closing out the bulk of the position before the close.