UNG Trade on Mar 17, 2016 10:08 from ToqueX: Tradervue User Stock Trades.

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ToqueX

 

Swing
Grade=D
P/L=-1.5R

Entry: Entered based on the daily chart for the swing trade. I saw some support forming at 6.50 and the bottoming pattern looked like a very distinct V pattern with significant volume coming in for the rebound and the beginnings of a higher low being put in.

Stop: 6.35. Below 6.50 and 6.4 with a bit of room.

Result:

3.23 Stopped out. I can see that my entry was late and was depending on the ETF having a lot of strength to rally further to the upside when the market and commodities were getting a bit tired across the board. I still like the idea of buying value in nat gas, but I'll wait for another entry, and perhaps it will put in a double bottom formation on the daily befor rallying again. I will gauge it in the coming days.
3/18 trade still open, in profit. I'm looking at 7.50 as an initial target and am willing to let the other half run with a generous trailing stop.


Execution detail:

Date/time Symbol Side Price Position
2016-03-17 10:08:17 UNG buy $6.659 long
2016-03-23 14:01:49 UNG sell $6.350 0


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