My last call/trade on NG1! hurt last Monday at open... But I held all week til yesterday to cut my losses for just 5%, which is a lot better than what I started the week at ! So here we are ! Our drop broke out of a major trend ! We appear to be forming a small bear flag on the 4hr. (along with the approach underneath of baseline on MacD), Top of this bear flag, another test of the major trend line, 100 day SMA, and a key reaction level @ $2.37(check past reactions to this #), are ALL about to converge at this point ! Multiple reasons to make a "short sell" at this area seem like great trade/choice !
Trade active
Trade active:
Still in this trade with a target of 2 or 1.95... Appear to be forming a bear flag now with a possible ''top" @ 2.20..? Up 23% and can bail with good gains if it breaks ! Looking to flip long soon for some actual "colder weather" and technicals/price action to confirm ! Thinking we at least go to "retest" bottom of previous major trend @ 2.45...