Comments on: UGAZ Natural Gas Trade Update

By: joefriday

joefriday — Thu, 22 Dec 2016 08:39:42 +0000

In reply to GetItRiight. NG hit 3.645..almost top of gap...but re-treating a bit now..

By: GetItRiight

GetItRiight — Thu, 22 Dec 2016 01:46:16 +0000

In reply to joefriday. I am expecting the resistance area between the bottom at the gap at 3.583 and the reaction highs of Dec 12 and 14 at 3.59x to hold off any further advance, which would preclude me from layering in DGAZ in the gap, that's why I layered in already. Plus the hourly RSI is currently at 78 so I see little upside right now. Things might change in the morning. Although, the price already tapped that area 3 times, so at the fourth tap, it might break through.

By: joefriday

joefriday — Wed, 21 Dec 2016 21:50:56 +0000

In reply to GetItRiight. I'm trading futures... but if I were using DGAZ toshort I'd be layering as it moves up inside the GAP area.. Good luck!

By: GetItRiight

GetItRiight — Wed, 21 Dec 2016 21:08:47 +0000

I tried DGAZ first at 3.95. Stopped out at 3.90. Then entered again first batch at 3.83, second batch at 3.60, third batch at the close at 3.46. Average is 3.63 which is about 3.545 on natgas. Crazy day. Watch out for stop runs at 10:30AM tomorrow when the report comes out. This move was in anticipation of a ~200 BCF draw. Anything below that should drive a good sell off.

By: qlikely

qlikely — Wed, 21 Dec 2016 20:55:23 +0000

shorted at the close today

By: joefriday

joefriday — Wed, 21 Dec 2016 20:54:33 +0000

Natty at the 61.8% fib…now.. just below the GAP ;)