Replies to post #17701 on Velocityshares 3X Inverse Natural Gas Etn (DGAZ)

[Sendme]

I wanted to post this earlier, but had to get my little girl off to school.
Anyhow, same MO as before. 5 minute chart scalp set up. Reason for entry, Divergence set up, looking for a .05 above a previous fractal and above the 8 SMA. Reason for exit, Stop loss trigger or price hits the top purple trend line or RSI breaks below it's trend line.


Not able to be at computer all the time so I didn't take the trade, but will check in to see how it is progressing. Again, these are all scalp trade ideas in case any one cares. Buehler Buehler ....



I often hear of traders managing their positions on the next time frame down when looking for an exit or possible entry.






I prefer to use the 60 minute chart when trying to spot a reversal and use the same principals. Look for divergence then a break of the 8 SMA as a signal to watch for a higher break at least 3 candles later (to help avoid false breaks)
Not much to say it is time to go long DGAZ yet. This is obviously not a strategy to try and catch the exact bottom.