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Sold my DGAZ at 26.30 from 24.20...looking to load UGAZ at bottom, of this run! run!
I tried trading view and it requires a paid service to get 5 hr chart.
https://www.tradingview.com/chart/?t=1021015a0d79b81bde68e4b73d9001
ya 5hr on investing charts. Cannot see intra-day in Stockcharts and TOS defaults to 4hr when you change time frame to 5hr they do not throttle correctly. Will look in other chart apps later to confirm!
https://www.investing.com/charts/stocks-charts
NG
I think we may have a reversal pattern completed today. If confirmed 2.90 is my opinion. Could go all the way back to 2.84 Not sure.
How to identify Pipe Tops and Pipe Bottoms
The first of the two candlesticks is in the direction of the previous trend and often pierces a support or resistance level. The second of the two candlesticks reverses the price action of previous candle immediately thus rejecting the breakout from the support and resistance level. Thus the two bars stick out of the tops and bottoms of moves like a pipe.
Good article regarding high tech financial firms and trading advantage. The MM has been replaced by high end computer algorithms.
https://www.forbes.com/forbes/2010/0927/outfront-netscape-jim-barksdale-daniel-spivey-wall-street-speed-war.html
hmmm interesting thanksCC
lol yepper...If on Monday NG cant bust through 3.04 I see 2.90....
Absolutely, especially when UGAZ just ran for 18%..
hope your in! looks like a reversal!
Based on historical (seasonally-adjusted) and implied volatility,
there is a 68% chance that natural gas price will trade in the range between $2.86 and $3.12 per MMBtu over the next five trading sessions. A narrower, statistically adjusted range is $2.91-3.07 per MMBtu.
Starting to buy DGAZ low <24.20 think she may hit high 23's before reversal today!
Hey Herbster,
I think we are, but not before NG hitting 3.02/3.05 tomorrow. Could go higher if shorts continue to cover. I believe DGAZ/UGAZ completed their Dec Future rollover today. They moved NG toward the DEC contracts (3.14) and spooked the heck out of some shorts.
1-NG demand is still low.
2-weather still favors a bearish stance.
3-Seasonal charts point to NG downturn in later 1/2 of October
4-1 hour, 4 hour charts are overbought. Daily is not thus I think NG goes up tomorrow.
Caveat: Watch the 2.90/2.94 area they could bounce NG of that line and take it up into contango.. Future Expiration on 10/26/17. I fully expect (no guarantees) them to start moving NG up to the DEC contract price Monday 10/23/17 Then take it back down on 10/27/17, 10/30/17. It could go either way you have to be nimble but that's the way I'm playing it
https://www.investing.com/commodities/natural-gas-contracts?&page=optqte&sym=NGX17&name=Natural%20Gas
sold 25.20 from 24.60 looking for dip for re-entry
bought 24.60 keeping close eye on it
waiting for pit close or later 24.40~
Celsius says it is neutral to slightly bearish. So they can take it anywhere..has to come in over 90 to confirm bearishness. Im a buyer of DGAZ is they take her down!
GLTU
Based on historical (seasonally-adjusted) and implied volatility, there is a 68% chance that natural gas price will trade in the range between
$2.79 and $2.99 per MMBtu over the next five trading sessions. A narrower, statistically adjusted range is $2.82-2.96 per MMBtu.
Ah okay...Everybody is thinking Natty down to 2.70. I'd be careful with report tomorrow. Even if bearish they could take it up then bring it back down on Friday.
MHO
GLTA
Why you knew it was coming down! 2.70's next stop!
Still early for DGAZ going to 29/30
Good for you Herbster. I'm making some coin also. Scalping it until I see clear direction!
Note CS started their roll today.
http://www.velocitysharesetns.com/dgaz
Fut Rollover date:
Natural Gas Futures Contracts
Quote View: Merged | Split
Options Expiration: 10/26/17
Days to Expiration: 17
Natural Gas Nov 2017: 2.874
Price Value of Option Point: $10,000
18% with X3
Thanks WZ currently ~18%..
Nov - 2.876
Dec - 3.059
COT DATA:
Summary:
Open Interest down 146k contracts
Note Commercial Longs went down 154K contracts
Commercials are still short close to ~ 1 Mil contracts
Speculators are long ~ 1 Mil contracts
Not much has changed since June folks, shorts are still in control.
WX CDD/HDD DATA:
Summary:
Looks like warm weather for next 2 weeks creating a surge in CDD requirements. Wonder if its enough to cause a short squeeze eh?
Charts TA:
5 HR: Oversold could go down a bit more Monday to 2.81/2.83
Daily: Oversold could go down a tad more 2.81/2.83
Weekly: Not oversold, could go down to low 2.70/2.65 before entering oversold area!
My opinion:
Theory 1:
We go down to 2.80/2.83 then pop to 2.91/2.93 Cooling off short term indicators. Then back down we go to 2.65/2.75 area.
Theory 2: Warm weather CDD requirements initiates a short squeeze taking NG to 2.97/3.01
MHO
GLTA
Thanks
GLTA as well!
I agree with ya Citrati, Throwing different perspective on the table for discussion!
Im going to be cautious moving forward.
Bot JNUG @ 18.00
GLTA
An amazing group of peeps running that island. Unless they are making a tariff on everything moving in/out they are not happy. If you tried to circumvent the system they lock you up no questions ask. Canadian government has more authority/influence in Cuba than the USA...
Enjoy your weekend as well!
PS - Hoping Natty goes up on Hurricane fear next 2 sessions so I can short the heck out of it!