Well, you've obviously got 4.52 and 4.39 just below, which should at least provide temporary support. (4.60 was arguably the important one in the 4.52 vicinity, and it held the past two days; doesn't necessarily mean shit for the next test, though.) You're also coming up on natty's favorite time to rally, October and November, as it tends to make its annual highs in either the Nov or Dec contract. Commercial hedgers are near record net short levels so they can buy the shit up ahead of the winter. So, overall, depending on your weighted average price, I think you have good R:R here, but naturally, that doesn't mean it will work out. Natty is a fickle mistress.
varrious entries over the past 40 days. high 9s, high 8s and today's prints. equity prices range from ~19.50 to today's prints (epex)
I think we're ready for a rally on natgas but, I'm not sure if I'm willing to take that risk just yet but I dont' think it's a bad trade - YET. dont go down in flames with natgas though (no pun intended)
There was a guy on CNBC this morning saying it could go a lot lower and in fact was trading under $2 in some western/mountain states. This caught me by surprise. I have no idea what he was talking about. Is there some regional exchange that NG trades on out west?
Yeah I don't get this. You bought ng at 9 dollars? what the hell? Wasn't that an all-time high perputated by predicted demand hysteria becuase of supply turmoil. Now that Iran's not invading the US again ng should stay around 5 of 6 dollars for quite some time. I'd like to see an account statment or at least an excel file showing balances. Maybe you could even make a graph for us!
what can i say - im KRAZY! when i enter a trade like this, i start out small and increase the lot size of each trade as i buy in. time will tell.....