I have spent a great deal of time the past 4-6 weeks watching NG, UGAZ, and DGAZ charts, reading boards, twitter feeds, deep diving into the mechanics of contango and backwardation, watching the day to day effect of NG rolling into the next month futures contract, watching the day to day effect of UGAZ and DGAZ rolling into the next month futures contract, reading weekly storage reports, weekly flow into storage and draw out of storage reports and prediction reports, year over year comparison reports, watching and reading near term and long term weather forcasts, and other elements of this trade.
This is all a lot of work. I have come to the conclusion your use of charts with different time resolutions achieves similar results and with a lot less work.
Here is a UGAZ 4 hour chart side by side with a Daily chart
Here is the similar inverse DGAZ chart
I realized a long time ago I am not a day trader. Due to my day job, I don't even like having to get into and out of a trade the same week. I am not always near a computer when I need to act and I miss things. My comfort zone is swing trading.
The four hour chart can produce some false signals, but if I use the daily chart for confirmation, or soon to be confirmation, I believe I can act 2-3, maybe 5 days faster than if I use only the daily chart.
3xETF's do not trade like stocks. 3xETF's are a derivative of futures contracts. Futures contracts do not trade like stocks either. The forces pushing them around are different. However, if I use a swing trading time frame, I find this to be minimized.
Anyway, I thought I would tell you that your use of charts with different time frames is helping me too.
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