I have been extremely bullish on Natural Gas.
I am trading UGAZ. Pattern is one of gap down morning opens, quickly reversed
followed by vigorous rallies that seem to stall at the upper end of the trading range.
Thanks for the following. I am now following your work as well.
I am interested in your updated opinion, on natural gas as I see you are on the other side of the trade.
Thanks
THE_UNWIND
PowerOfCapital
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@The_Unwind, Thanks for your input, that was great. As for gas, i was finishing my trading by sale short UGAZ for a few thousands dollar a few days ago, sorry i forgot to update.
I am more focusing on SPX500 currently and i read your updating for that,that was really helpful. Just a kindly reminder: Trump will meet China president Xi instead of Premier Li. In China Xi is boss If you have to pick one for stock market , what will be for next Monday? up or down? If you think that's a too aggressive question, just forget it Many thanks.
The_Unwind
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@watsonzou26,
S+P Flip of the coin Monday.12/3 Buy the rumor sell the news possibly, unless big breakthrough at G-20.
Please update an opinion on UGAZ. It would be appreciated. Thank you, as well.
PowerOfCapital
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@The_Unwind, Thanks and i just updated my trading. Just a reminder again: Trading UGAZ is quite risky and i prefer to sell short it. You may see UGAZ as high as 256 on Nov 14 while the gas price go back to as high as 4.8, Ugaz never touched that leval.
Based on the RSI, i uploaded some shorts /SPY short for next Monday, a little bit crazy, hmmm?
The_Unwind
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@watsonzou26,
I recognize the risk. Position size, and not holding overnight..help reduce risk.
I think UGAZ could be in the beginning of a Parabolic advance,
Arctic Cold Dome over the US this winter could trigger UGAZ. breakout
UGAZ is the only ETF/ETN that comes close to replicating the moves in the Natural Gas Futures ( Jan.19 NGF) currently top shelf.
I will take that all day long.
PowerOfCapital
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@The_Unwind, You'd better trade it VERY carefully in my opinion.
The_Unwind
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@watsonzou26,
I always do, I realize the risk. I trade off the 15 minute chart, But the volatility is amazing
The_Unwind
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@watsonzou26,
If you read my recent posts on UGAZ , you will see I have an outside target of 500 on the parabolic spike.
If it gets past 256, its off into space.
I think being short UGAZ ultimately could potentially blow up on the shorts. face . That's the over bullish bet , as I see it.
PowerOfCapital
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@The_Unwind, Good luck and i also hope UGAZ will be touching as high as 500,lol
I am trading UGAZ. Pattern is one of gap down morning opens, quickly reversed
followed by vigorous rallies that seem to stall at the upper end of the trading range.
Thanks for the following. I am now following your work as well.
I am interested in your updated opinion, on natural gas as I see you are on the other side of the trade.
Thanks
THE_UNWIND