Should be bouncing off its lows about these few weeks.
I'm a long term trader
I'm a long term trader
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Trying a buy here.
SL: Monitor of lower TL
TP: Will watch pivot and supply
Will add some if boucing on lower TLIgnored
Dislikeddarksorrow I dont mean to intrude but a daily perspective isn't long enough for natural gas to pop, UNG the natrual gas ETF has moved from ~$140 to ~$5 in 4 years. Your perspective must be very long term to survive whats coming up which is accumulation and basing at these lower levels or a decline to even lower levels. The reason this thread is deserted is that alot of guys tried to bottom pick and got whiped out, I would wait abit before considering it as there are other instruments that are moving that offer better opportunities while this thing...Ignored
DislikedThanks for your input. I only took a small risk and it would not harm me in any way. What i see NG is at it's exhaustion level. It will be difficult to get lower then this unless NG becomes abandoned product.Ignored
DislikedI have traded UNG for several years now. I should have learned from past years experience when UNG did an earlier reverse split - it just gave more reason to go lower. Should have waited for exhaustion, which I think is now here...
That said, I am still long from painfully higher prices. My stubborn personality has kept me in it since. I am willing to hold for higher prices, just like the VXX I still hold. One day I believe they will both be significantly higher. Sooner would be better.
I have seen the recent volume spikes get hammered back down...Ignored