Front-month Natural Gas futures are continuing to rally above $5 due to further supply shortages across the globe. The natural gas sector is still seeing the effects of Hurricane Ida as 1.15 Bcf/d are still offline in the Gulf and Louisiana. This uptrend has been very strong the past week so I want to position myself for more upside ahead. The Average True Range (ATR) is currently @ 0.235 and rising for a Daily move so I’m targeting 5.500. Check out the chart below for my full technical setup. I recommend the following:
BUY GNGV21 @ 5.250 or @ Market
SELL STOP @ 5.170 ($800 risk per contract)
SELL LIMIT = 5.500 ($2,500 profit per contract)
The MINI contract is 1/4th exposure per contract = $200 risk / $625 profit per mini contract
*Risk/reward are calculated before commissions and fees*
Call me if you need assistance with executing this trade – 312-706-7639.
30 MIN NG – Yellow Exhaustion Candlestick + Bounce off Point of Control (POC) Level = BUY
Daily NG – Longer-term bullish trend + Light Green Vega Candlestick (Momentum) = BUY
Jace Jarboe | Futures & Options Broker:
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