UGAZ (3x bullish natural gas ETN) will be added as an Active Long Swing Trade on a break above 54.60 (i.e.- any print of 54.61). The price targets are T1 at 58.18 & T2 at 63.62 with a suggested stop on any move below 51.60. Due to the extreme volatility on natural gas prices coupled with the 300% leverage of UGAZ, the suggested beta-adjusted position size is 0.25 (¼th of a typical position size). 15-minute chart below:
UGAZ 15-min Feb 14th
I set the breakout level to coincide with a breakout above the downtrend line on the /NG (nat gas futures) 60-minute downtrend line that was highlighted in yesterday’s video. Also note that the price targets for this trade may be revised based on the charts of /NG.