LEONES
Long

NATGAS counter-trend trade (revised2)

NYMEX:NGG2015   NATURAL GAS FUTURES
125 13 2
Natgas (NGH15) reached support at 2.800 the first two weeks of Jan2015 and is currently setting up for a long trade towards the median lines intersection at 3.600-3.700 (expected on the 05Feb2015). At 3.60 the bear trend could resume.
We are long after poking it's head below the lows and clearing some stops. We were triggered late in the day yesterday. Entry 2.822. Stops will be below yesterdays lows.
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LEONES OffTheFloorTrader
I'm entering a bit higher goo gas!
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LEONES LEONES
I'm in
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LEONES OffTheFloorTrader
something not going here..I'm out
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NG is always a tough trade. We are holding out position with stops below the most recent lows.
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LEONES OffTheFloorTrader
should have moved up already, it is not convincing - I'll enter long only above 3.000 but ready to short short if we trade below the recent lows 2.760
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LEONES OffTheFloorTrader
still in the congestion zone - tomorrow report day...
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Now that's moved up during the day we will hang in on the trade. (Full disclosure: we are long the March contract NGH5). If they take us out they could flush it hard. Look at the weekly chart. Lots of buying on the lows so a lot of stops below the lows with us.
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LEONES OffTheFloorTrader
yes posted the FEB contract by mistake - NGH5 is the good one
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LEONES OffTheFloorTrader
tomorrow 29Jan is the natgas report. Unlikely that is gonna move outside that range before the report, They are all waiting for that!
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