We are almost there. 0.13$ from the 200 SMA. NatGas is acting like a good textbook. Volume started to decrease today as we are on the 2nd day of panic selling. I'm looking forward to see more volume decrease tomorrow and the day after tomorrow also. We can have our bottom next week Monday or Tuesday. I'm going to enter with longs somewhere next week.
I've uploaded the Fibonacci retracement on this NatGas intermediate cycle. The 50% Fibonacci retracement is at 2.450 $. The 200 SMA is at 2.4$. So I think we are going to be all right by entering around 2.4 $ with the longs. If something happens to NatGAs it still can drop to the 61.8 FIBO level but we can easily survive that drawdown and we can add to our longs. Most probably I will close my shorts tomorrow or on Friday when we are getting close to the 200 SMA.
So this post is a neutral post : who is short with me get ready to close it soon , but I don't recommend to enter here with shorts. We are getting too late...
If we close this trade at the 200 SMA we are going to be near 30% profit on this trade. Who played DGAZ will be in 100% profit...
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If we close in the green I will close the short position today. Waiting with entering longs though. If I close I will update here.
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I haven't closed it yet. I will set a stop for the whole position above yesterday's high.
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Sorry today's high...
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Stop loss hit
トレード終了: ストップロスに到達
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Looking for a long entry
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jolu
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hi arpi ,
what are we doing with UGAZ ?
is it tome to go long?
MrRick
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Whilst I wait to go long, I've saved 18%. I think I'll take my lady out for a bite.
MrRick
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After I vote
jolu
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I do not know how you can open a position on UGAZ now as you see this contradiction and nonsense behavior . I had love to know what happened yesterday and today that caused this trouble . I am thankful i adidnt went long yesterday ! It would have been a lose of 20% .. It is frightening even though we are getting very very vlose to the 50% fibonacci retacment which could act as support , but with this who can guarantee ..
What is your opinion Arpi ?
I admire you not falling yesterday unto the bull trap in opening a long trade !
MrRick
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It's probably best to stay sidelined for a few days.
Cheetsbaby84
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Any update here?
jolu
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Hi arpi
are you buying today?
On the 4h and 1h charts ,macd is suggesting more downside coming and other indicators are not very positive ..
it seems we can't fly off the fibo 50..
thanks a lot
nexuz
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went long in ugaz @20,30 and 2,62 dezember contract. unfortunatly my broker doesnt support oanda natgas so i only got about 17 days before they are closing that long. moving on to januar contract then. target for ugaz will be around 60-65 (EMA 200)
only thing that worries me a bit is that macd didnt crossover yet
closed down ugaz (small profit) and market position (breakeven) - seems like we are building up a h&s on H1. guess we are going for one more leg down before the party starts. lets see
what are we doing with UGAZ ?
is it tome to go long?