Tuesday, May 26, 2015 5:44:05 PM
Nat Gas- This is the post I made last Friday with an updated chart. See Linkback for original post.
NG/UGAZ
Below 2.964 I'm looking for a fill between $2.892 and $2.836. Can't get any closer than that until I see the trading in the morning. So as you can see I expect a lower low to finish this retrace and as long as $2.785 holds the upside count remains intact. I'm not trying to make this anymore difficult than it has to be because I don't want to intimidate anyone into not making this trade. This next move higher can top anywhere between $3.24 and $4 so I'm not going to start putting out targets that'll come back on me if I'm not here. I'll update the play as often as I can. Right now I'm leaning towards the higher target but if we don't hit the higher of the two grey boxes I do believe we'll still get another low in 2015. So right now IMO the most important thing is the entry. Again this is just my opinion but as long we don't get a sustained break below $2.785 this has the potential to see as high as $4.
NG/UGAZ
Below 2.964 I'm looking for a fill between $2.892 and $2.836. Can't get any closer than that until I see the trading in the morning. So as you can see I expect a lower low to finish this retrace and as long as $2.785 holds the upside count remains intact. I'm not trying to make this anymore difficult than it has to be because I don't want to intimidate anyone into not making this trade. This next move higher can top anywhere between $3.24 and $4 so I'm not going to start putting out targets that'll come back on me if I'm not here. I'll update the play as often as I can. Right now I'm leaning towards the higher target but if we don't hit the higher of the two grey boxes I do believe we'll still get another low in 2015. So right now IMO the most important thing is the entry. Again this is just my opinion but as long we don't get a sustained break below $2.785 this has the potential to see as high as $4.
Discipline is the Rock of Success
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