BOIL ( 3x Nat Gas ETF) Reverses to Upside
Updated
On shown on the 15 minute chart with a VWAP band/line setup anchored to the July 1st
pivot high. BOIL is in a VWAP breakout since bottoming mid-day July 17th. Confirming
the reversal are the Price Volume Trend Oscillator printing a green histogram and an
upgoing signal line as well as the zero-lag MACD with upgoing parallel lines crossing
the zero-horizontal line. Price has crossed over the mean VWAP. On the dual time frame
RSI indicator both the lower and higher RS lines ( blue and black) are above the 50 level
and the lower time frame is higher highlighting bullish momentum.
I will take a long trade targeting based on the VWAP lines first $65 and then $68. I will open
equal amounts of call options striking the targets with expirations on July 28th. I seek a
100% ROI in the next 6-8 trading days. On an intraday basis, I may enter a low DTE call option
at the low of day ( typically mid-morning) and exit at the high of day the same or next day.
pivot high. BOIL is in a VWAP breakout since bottoming mid-day July 17th. Confirming
the reversal are the Price Volume Trend Oscillator printing a green histogram and an
upgoing signal line as well as the zero-lag MACD with upgoing parallel lines crossing
the zero-horizontal line. Price has crossed over the mean VWAP. On the dual time frame
RSI indicator both the lower and higher RS lines ( blue and black) are above the 50 level
and the lower time frame is higher highlighting bullish momentum.
I will take a long trade targeting based on the VWAP lines first $65 and then $68. I will open
equal amounts of call options striking the targets with expirations on July 28th. I seek a
100% ROI in the next 6-8 trading days. On an intraday basis, I may enter a low DTE call option
at the low of day ( typically mid-morning) and exit at the high of day the same or next day.
Trade active
BOIL has had good price movement. Idea validated. Stop loss raised to beyond break-even making the trade risk free. Call option contracts now 42 % in unrealized profits. I will take a piece off tomorrow late morning as a standard profit taking and carry the majority for the weekend.Trade active
Price continues its upward trajectory. The heat wave in North America and Europe and so electrical demand in part supported by gas demand adds momentum to the move.
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