Replies to post #14156 on Friends sharing thoughts...

[Sendme]

GM pickspicks1 Hope UGAZ puts some money in the bank for you today!

I am still doing a little paper trading on this one LOL

It is such a gapper every day makes a pattern trader like me nuts, haha.

But I really like the overall moves on this one. Gonna get my feet wet if NG gets down under $2.00

Best of luck my friend.

I am in TVIX and JDST today.

[Sendme]

Hi pickspicks1, are you still in UGAZ.

I have been trying to spend a little time each day looking at NG to see if there are any patterns or divergences that may be giving a signal one way or the other.

I have been watching the potential target 2 of a Butterfly pattern coming off of UGAZ that could put price around 12.50ish

https://www.profitf.com/articles/forex-education/harmonic-pattern-butterfly/

There are some divergences on the 60 minute chart that are bullish



Daily chart on UGAZ really shows a nice consolidation pattern that IMHO needs to be closely watched as NG is approaching all time lows.



Looking a little closer at the daily, I would like to see the RSI bounce off oversold one more time and the MACD start to cross over bullish again and then break above the zero line.

This is all for an early entry, I think that once price breaks above that top red trend line it will still be a great trade.



I think that there is a possibility that NG could retest the 1.95-1.98 lows, but I don't want to miss out in case I am wrong and the charts are suggesting a buy before then.