NYMEX:NG1!   Natural Gas Futures
UNG
55 3 5
ung
Retrace hit c=100% a target and reacted overnight. Possible i-ii set-up formed during trading hours.
Earlier today I attempted a swing trade entry long UNG             Sep 7.5 calls. The difference in my green and purple count is academic for this trade as I'll likely exit on wave ( iii             ) of either purple 1 which might be wave iii             of (i) in green 3 (not annotated).
I'm out. Low confidence in the bottoming count at this time. If price takes out the pre-market high and I'll reassess.
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Nice reaction off the 61.8 retrace of wave i overnight. I added to my long position during futures trading.
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Need to clear 2.69 for added confidence. Safer entry at wave (ii) support, or on taking out the presumed wave (i) high afterward. Stops should be much more evident at that time.
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