Short NATGAS based on warmer weather projections (builds in inventory), and bear divergence in RSI.
Comment
⋅
Happy New Years everyone!
Short is still in effect.
Comment
⋅
Dam...
Comment
⋅
I have not sold any portion of my position, as there was virtually no support or buying action today.
Target is $3
Trade closed manually
⋅
Had to close this trade since Horizon ETF's (HND) decided to change their name and I would have been unable to trade online for the next 5 days (caused issues with my trading platform).
Trade closed with 35% profit in 3 trading days.
PS. I was planning on setting a stop-loss for this trade and letting it run for the day, and then most likely close at the end of today, had this issue not happened.
Congratulations!! With all confusing forecasting data of late clouding the real picture-you were spot on this short..
GeorgeJimas
⋅
@leonarddavidson60, Thanks man, ya everything has been all over the place lately.
I just tried to take a step back with this approach. The drop happened a lot faster than i thought it would though.
kkvera80
⋅
hai ! nice short it@3818 my first tp=3.25/my view frist qeator bearish GLT
GeorgeJimas
⋅
@kkvera80, Thanks man, I took a ton of heat when I suggested this idea so I'm glad it paid off. My first TP is probably around that area as well, but I'm just going to see how this plays out.
verma667
⋅
WHAT WIL B NEXT POSITION BRO . LOOKS LIKE BUY NOW SUPPORT
GeorgeJimas
⋅
@verma667, I'm still short, I haven't seen convincing buying occur yet.
I'd wait for a strong bounce before I decide to go long.
That's just my 2 cents.
verma667
⋅
bro how to u calculate weather with natgas?
GeorgeJimas
⋅
@verma667, I don't calculate weather with natural gas. I was simply saying that this winter is expected to be a warmer one, therefore less natural gas would be consumed, thus increasing inventory.