BOIL (3X Natural Gas ) Overnight Trade Recap

AMEX:BOIL   ProShares Ultra Bloomberg Natural Gas
As a triple leveraged ETF BOIL is highly volatility and typically has a good range

even if the overall price changes only a small amount from one day to the next.

While these overnight day trades are typically conducted on the 3 or 5 minute time

frame, here a 15- minute chart is shown. Because BOIL is tracking natural gas

futures and the futures markets are around the clock , BOIL often has movement

after-hours and in the pre-market while futures markets are active.

In this example, the chart is dressed with double Bollinger band setup with

deviations of 1.618 and 2 618 which are Fibonacci numbers. Relative volatility

and relative volumes are indicated as well to be better attentive to reversals

or trending amplitudes.

In this example at about 12N on yesterday 7/24, price dropped out of the bands

volume and volatility went red to green and the candlesticks formed a morning

star pattern. This is the entry. The stop loss is placed just below the lowest bottoming

wick in the pattern. Today, in the premarket, when the price rose to outside the upper

trade zone and green bars on the volatility and volume indicators fell quickly, the

trade was closed for a realized profit of 4.7%. About 90 minutes later, another

long trade was set up for a more than 4% five hour day trade.

Rinse and repeat DYODD !

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