Natural Gas Startegy (Part I)

FX:NGAS   Natural Gas (Henry Hub)
154 0 4
This could be premature for a breakout, but the risk is worth it to for me. Several things could unfold here.

1) Nat             gas lifts off from my entry (low probability)

2) An advanced pattern could be in play and will take nat             gas lower into my pink region, then reverse lightly or definitively.

3) Price could fall into the high 1.60's for a libra pattern, then reverse.

4) Price could double bottom on the monthly time frame before rallying higher (Most conservative strategy, but often misses entry).

5) Nat             gas prices break down below the 1.60's (Unlikely).

Keep the long term support in mind.

Trade active: @ 1.94
Trade closed: stop reached: Stop was too tight in hindsight. This is a perfect example why the daily levels are so important to see before placing stops on a 4 hr - 12hr time frame.

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