The 5m chart is making for some nice setups. https://elitetrader.com/et/threads/...at-right-here-baby.343012/page-7#post-5327975
Low risk long entry. Price at strong support level. Looking to buy above 2617. Most likely ~month hold.
Whatever the forward contract is. I’ll look into it tomorrow evening. NG is in contango, so I’m not trying to pay for the roll. I really don’t hold out much hope for NG as a hold. Maybe. But right now it looks to me like it hits this trend line, spikes over 20ish trading days, and then falls back to the trendline (good 35%+ spikes). Will that continue? I don’t know. But it won’t cost me much to find out. It just shook everyone out who went long 2 days ago playing that game. It also has a shot at fulfilling a cup and handle (or triple top breakthrough) for a much larger gain. favorable r/r here as it won't cost anything to get into due to the tight stop. I'm not piggy. 25% daily ATR stop (which is declining). I love these setups.
NG day range has deteriorated since mid Feb 21. Now it is < 0.1 point and it is not that great for day trading.
It’s toast. It didn’t even whimper up. as for seasonality, it exists. >70% of the time from now until the end of April, natural gas closes up.