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Sorry guys I haven't written in a while (Royal College specialist exams and whatnot) but natural gas is putting in a beautiful ascending wedge. To take full advantage I would short now with a stop at the upper overhead resistance. With regards to the bigger picture this is a higher low so I actually expect the trend to continue up shortly thereafter, but in a...
We have a new higher low in place and its sitting right at overhead resistance! This could be the start of a breakout (even if its a small one).
How low can she go?? LOL UNG hit an all time low of 8.58 a few days ago.. When price is this low, I am like "Why not" But I guess it can go even lower..only time will tell.. This got my attention on Chartmill as they have a page that shows large player activity using the effective volume indicator. I do recall this one can be volatile Not a recommendation
Got one thing right, now we'll just have to see whether it breaks out or continues down the trendline.
Possible scenario for UNG. I have no position. I bot an option based on what someone told me it would do earlier this month and I lost my $25 (🤣🤣🤣 That never happens!!) Anyway, I'm thinking about revenge trading it so I started looking at it closer. Not really positive this is a broadening wedge.
Our bullish declining wedge broke today foreshadowing further loses and declines in UNG. I advised all prospective and speculative day traders to wait until their was a clear sign up and no to pre-empt the trend because the collapse through support could mean further loses to eight and some change (I've drawn in the new lower support level). Let's keep an eye on...
I've been doing well watching this bounce back and forth in this triangle, but now the moment of reckoning has arrived. About 30% of the time these wedges don't follow their pattern and breakdown and this might too. We have to watch very closely but if it moves up it could be good for all of us!!
Buys some AMEX:UNG for a quick bounce. No particular reason. Looks over sold. Don't forget to sell on an up day
Additionally there's a breakdown of a bear flag which I noticed several months ago but at the same time it looks like a declining bull flag has been created!! We will continue to short UNG until the lower limits where we anticipate a bullish reversal.
I've been following a declining wedge in UNG for sometime and we just had a breakout! I really like this sign (so far) as its also coincided with a lower support limit so we might be able to ride this for some time!!
Hi guys, this is the best of the week! 2weeks, 8% strikes, implied volatilty is very high, IV rank>75, so this is a perfect scenario to trade this iron condor, because our odds match high IV. This means I feel confy highering a bit the size of the opration, usually my risk is 2-3%, this time I can risk a little bit more. Enjoy your wallet! Tari.
I was expecting an uptick but not quite to the degree that we saw yesterday, it was very impressive. I'm expecting a march towards the overhead resistance's shown in the near term. Long-term I'm still bullish on natural gas.
We had our first green candle in a while after I called an intermediate top after the breakout a couple of weeks ago. We are still in a strong uptrend and the turn yesterday (despite opening down over 2% at the open) is a bullish sign. Today I am looking for a confirmation signal or one in the coming days.
I still love it. Seriously. But I have to wait and you can see why - the stochastic indicators have only turned up on the daily time frame and we are now caught in this downtrend channel. I've show the lower limit which will hopefully hold, but I would be reluctant taking bearish bets on natural gas from here on in.