PRS LIVE TESTING #11/100 NATURAL GAS REVISITS $1.50 BY AUGUST
This a write up for my buddy FomoFutures who trades natural gas. His wife is hot and she already bought double life insurance policies. Again, I've said this many times before. It's not called widow maker for nothing.
PRS is batting over .800 right now, so definitely has some room to get this call wrong.
PRS is batting over .800 right now, so definitely has some room to get this call wrong.
Uwaga
Honest to God, my 3-day says there's no reason to suspect natural gas will not take a second drive to 1.37.Uwaga
It's just not quite bearish is enough, there's no true capitulation. What would be capitulation? Maybe $1.20, $1.17?Uwaga
But the call here is NOT FOR NEW LOW, for all intents and purposes and out of respect for many people who have fought the natural gas battle, PRS will only call 1.50 in late July or early August.Uwaga
I willl rarely say this in my live testing ideas, but:This idea is for the test. Don't trade it. It is because i
Uwaga
... I really don't like natural gas.Uwaga
FURTHER MORE. IF IT DOES MAKE IT TO 1.50, DO NOT GO LONG!! I'LL SAY IT RIGHT NOW THAT I WOULD ABSOLUTELY NOT GO LONG NATURAL GAS UNLESS I SEE 1.17. AND THEN I WOULD STILL NOT DO IT BECAUSE ONE DAY THAT HABIT WILL CRUSH YOU.
Uwaga
NG moved up a little over the weekend. It has 2-3 more days of gas in the tank before it gest rug pulled.Uwaga
Monday 1.86 A decent short. But 1.95 is better. Why? It's NG. There's no reason.Uwaga
Uwaga
If u like to tranche go four tranches. Lets say you trade size 1000, I would do: 100 200 300 400, roughly speaking. Tranche 1 now 1.89.Uwaga
Wednesday 6:26 AM Tranche 2 1.855
Uwaga
Uwaga
For what it's worth, we are up since short entries posted above. Live at 1.763.Uwaga
FRI 10:07 AM THIRD TRANCHE 1.829Uwaga
No tranche four bc its NG just in case of shenanigans. 7/14 today. This sucker expected to tank next two weeks.Uwaga
Uwaga
Tuesday 7/14 4.55 PM CTJust posted thatchart above. This may take 3 weeks to complete going down. HOLD THAT 4th tranche just in case it spikes to 1.83 again. If its worth a 4th entry I will post.
Uwaga
So 1.71 on Friday 7/17. Finally under where we started. But our 3 entries doing fantastic.Uwaga
All updates go here for part 2:
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