I just share what I see & what I’m trading. Up to each trader to decide whether they agree with my analysis or not. I had spent quite a bit of time in this video as well as the two posts, including comments, on nat gas yesterday explaining the rationale for this pullback trade which is almost identical to the last time I posted a short “pullback” trade right when /NG peaked just under a week ago back on Oct 31st which was only expected to be just that, a pullback within a larger uptrend. (overbought rally into resistance with /NG set up in a fully-mature bearish rising wedge confirmed with negative divergence). The charts from that previous trade are posted below.

A 6% pullback in /NG (or ~18% in UGAZ) immediately followed that first post on Oct 31st so even if one doesn’t care to short, they could have side-stepped that rather sizable correction which probably would have ended up hitting most stops on any long positions shortly before the pullback was over.

Not conflicted in my analysis. Short-term bearish while intermediate-term bullish on nat gas although if we get much more than a pullback to my preferred downside target, nat gas could “confirm” the potential negative divergences that are building on the daily chart & if so, that would likely shift my intermediate-term outlook from bullish to bearish.

If you were referring to my 50/50 outlook for either more downside or the end of the correction off the Oct 31st reaction high in /NG which was the last pullback shorting opp that I highlighted shortly after closing out the long position then yes, I was conflicted at that time but more so only on the very near-term as to whether /NG had a little more downside left in that correction or if the correction was over (which it proved to be).

Hey Tommy – Same thing happened to me on Last ugaz trade. Made a very small profit for fear of a reversal. Anyway, UGAZ getting hammered in pre-market. I’m going to use it as an opportunity to pick some up. I’m just not seeing the upside on UGAZ over yet. Need to try to ride it to the top and see where it goes. I suspect we will see clear signs of a reversal before it tanks.