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UGAZ Swing Trade Setup

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

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.

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2018-02-23T11:36:51+00:00 Feb 14, 2018 10:04am|Categories: Completed Trades - Long, Gold & Commodities|Tags: |1 Comment

One Comment

  1. rsotc February 14, 2018 10:08 am at 10:08 am

    UGAZ long entry was triggered while composing the post for the trade setup. As such, this is now an Active Trade (with a more favorable entry price trading at 53.80 at the time the post was published).

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