UNG trade ideas
Natural Gas Countertrend Rally Position PlanningThis chart is position planning based on the Daily Cycles Target and Countertrend Rally charts published last week.
Patiently waiting for this rally to fail.
UNG puts take advantage of the expected decay.
Enter on confirmed bearish hourly trend change.
Exits:
extreme bullish reversal, exit if hourly down trend fails
bullish daily higher low, exit on hourly uptrend confirmed
bearish continuation, assess situation at each price target
$NG trading in bullish descending wedge on weeklyNatural gas is setting up as a long, with positive divergence on weekly chart. Will look for higher prices.
UNG at supportUNG at long term support should hold easily , can be a trade with 20% upside. next stop UNG 18.7
Got gas? Natural gas? Long till end of winter!Chart says it all, with freezing temperatures Natural gas will go up. Perfect entry here, min price target into 19's with much more upside!
whats it called..Love the fact that this chart went as i called but i was not expecting how we got ther ..
PPrice of underlining is malleable for the moment.
Buy opp
Flatulence is naturalColder and more snow than normal in the areas that drive demand, but is that enough to eat the surplus?
Daily
Support is holding @19.21, 9cent's below the daily setup trend @19.30
Weekly
mostly negative to neutral
Monthly
Patterns
Inverted Hammer on an 8 downtrend = Bullish in a downtrend
Star Doji = Bullish in a downtrend
Gravestone Doji = Bullish in a downtrend
Weather Forcast
UNG (natural gas ETF) 16% up 24% down... My intention was to analyze the NG exchange rate. Even so, I still chose his ETF. The fractal motion is much more visible in this. That is why I would like to present this. It is clear from the movement of the exchange rate that Friday's big fall (7%) was an expected process. The figure clearly shows that a fractal sequence has been completed. It is also clear that the original fractal is copied in a 2: 1 ratio. This copy has been slow for a month now. Therefore, I assume that further movement follows similar regularity. This means that NG and its ETF will turn north in the coming days. The ETF may increase by 16%. But from that level, another decline may begin. Nearly 24%. I am expecting the bottom of the ETF to be 15.44 usd. Then the most interesting thing happens. I assume that NG can start an amazing rise after 14 years. I also recommend this for a longer term investment.
UNG - strong volume near resistanceCurrently pulling back after testing top-trend / supply level. I'm watching $21.40 area to hold as support for another attempt at a break. The strong volume and indicator confirmation has me bullish, provided we stay above that. $21.40 area.
Seasonality at its BEST!! Natural Gaz Spike coming SOON!!Disclaimer: The above are just my opinions and should not be construed as trading advises.
UNG Long ideaseems like second foot down, trading volume is high for these two days, price near former support area
TRADE IDEA: UNG JAN 22/24 LONG CALL VERTICALMetrics:
Max Profit: $164/contract
Max Loss: $36 (assuming mid price fill)
Break Even: 22.36
Delta/Theta: 9.03/-.07
Notes: A seasonality play put on at /NG lows ... . UNG's not my favorite instrument in the world, nor is it the most liquid that far out in time. It's also possible that /NG could trundle lower, since seasonal peak injection generally doesn't occur until later in the year on average.
The pictured setup prices out at .18 bid/.36 mid/.53 ask and would pay well if we get another Polar Vortex. If we don't, we'll you aren't out much ... .
