In the comment section below today's Index & Sector Analysis video, in which I briefly touched on natural gas, member @murphydoc inquired: 'So is Nat gas a buy? What would be your target?' Although I'm personally long nat gas, I decided not to add it as an official trade idea because I'd prefer to see [...]
The UGAZ (3x Long Natural Gas ETF) Active Short Trade gapped below T1 to open at 35.26 today, which is where any standing BTC limit orders on the Active Short Trade would have been filled, thereby providing a 25.5% gain in just 5 trading session. Consider booking partial or full profits and/or lowering stops, depending [...]
The UGAZ (3x long natural gas ETN) official short trade has traded as low as 40.00 so far today in the pre-market session (not reflected on this chart) which is just below the 41.40 support level with $NG (natural gas futures) having hit my initial & minimum downside target of 3.55. That's a 15.4% gain [...]
The following charts & notes outline the criteria & suggested trading proxies for a swing trade on natural gas.
although the GAZ long trade is still profitable (about 10.4% from original suggested scale-in entry price) but shy of the first target, i am going to remove it from the active trades category as it seems to have stalled out on lack-luster volume since the breakout. GAZ was posted recently when i was suggesting a [...]
i have added a couple of sub-target resistance levels to the 4 hour GAZ chart for any active traders that took the trade and might be looking to trade around those levels (e.g.-book partial profits at the resistance levels and/or add to the position once those levels are cleared).
the natural gas etf, GAZ, recently made a new low (bearish) but quickly recovered and has remained above that level (bullish). however, prices are still just barely above that support level and anyone interested in this set-up (which has not yet triggered) should be aware this is a high risk, bottom catching play in a [...]