When they do, you must recognize them for what they are,
and wait patiently for the chart story line to unfold.
UGAZ Velocity Shares 3 X Bull Natural Gas ETN
is the opportunity I am writing about here.
Using historic low temperatures in the Northeast
this Thanksgiving weekend, traders have broken out
Natural Gas Futures to Multi Year Highs, during the Month of November.
My own chart read of UGAZ , using 60 Minute OPEN Chartis that the ETN has broken out,
.. in a potential PARABOLIC ADVANCE !
UGAZ has traded from 78 up to over 250 in November
a 300 % + ADVANCE...., from Top to Bottom in the ,
as Natural Gas Prices soared this month.
Currently in pre-market trading. UGAZ is pulling back to the 135 area,
representing a 50 % pull back from the first parabolic peak above 250.
Some may view the spike high to the 250 area in UGAZ as a blow off top.
I am choosing to look at it as,,
AN INITIATION THRUST BREAKOUT ,EXTREMELY .
FAIR WARING,,, UGAZ is an EXTRAORDINARY VOLATILE ETN
LARGE PRICE GAPS OCCUR EACH DAY ON THE OPEN.
To say that this ETN is not for "widows and orphans"
would be a huge UNDERSTATEMENT.
However, if you are the kind of trader who can recognize a rare opportunity,
WATCH UGAZ closely in the days and weeks ahead this winter.
I am using $75 as a STOP, in case I am wrong in my evaluation,
Any kind of Unforeseen Prolonged Arctic COLD DOME in the Northeast part of the US this winter,
could send this ETN ..UP, in an Extraordinary Chart Measured Move up to........ $500 !
by my reading of the PARABOLIC POTENTIAL NATURE of its Chart.
If you are a believer that the price breakout in Natural Gas is for real
then look for a chart position to enter, and BUY UGAZ,
REMEMBER, PULLBACKS IN PARABOLIC BREAKOUTS LIKE UGAZ
ARE..... BUYING OPPORTUNITIES.
UGAZ 137.50 Last Pre-Market DOWN $20
11/23/18 500 AM
Disclosure: The above is my own proprietary analysis.
It is NOT meant to be given as trading advise of any kind.
I suggested that in a potential Parabolic Buy,
that one must use sharp pullbacks to purchase.
Case in Point; UGAZ
UGAZ was trading around 137.50 in pre-market trading this morning.
Currently UGAZ is UP... $30.00... from that level, up 9% today, to 167
That's $30.... of stock appreciation in less than 3 HOURS.
YOU DO THE MATH.
UGAZ 165.68 Last
11/23/18 1015 AM