The final bounce target on /NG (natural gas futures) has effectively been hit with a high of 2.924 in early trading today which correlates to a high of 69.44 in UGAZ so far in today’s pre-market session. UGAZ is still trading above the sole price target of 67.05, currently about 14% above the entry price of 59.91 just two trading sessions ago. When trading certain commodities, such as natural gas, my preference is to use the chart of the futures contracts to time entries & exits, even if trading an ETF or ETN such as UGAZ. Previous & updated 5-minute charts:

Trade ideas on RSOTC use regular trading hours for the official entries & exits although I would consider placing a limit order at or above the price target on this trade with the condition “allow to be filled outside regular trading hours” or whatever your broker’s designation is for orders that can be filled in the pre-market & after hours trading session. Should UGAZ gap above the price target of 67.05, the official exit price of the trade will be the opening price as that is where any standing limit orders at 67.05 would be filled as limit orders are always filled at the limit price or better. Should UGAZ open below 67.05, it will remain an Active Trade until & unless the price target is hit, revised or the suggested stop is exceeded.