UNG retraced to the 78.6% Fibonacci level before consolidating into a squeeze.
1. Solid orange compressed squeeze
2. Still has negative momentum.
3. No propulsion dots requires a more conservative entry.
4. Vprofile levels offer entry levels and resistance.
5. 18 Feb 22 13 Put Entries ($12.80, $13.20, $13.80)
6. Profit Target #1 @ 12.05.
7. Stop Loss is 25% of the option price.
1. Solid orange compressed squeeze
2. Still has negative momentum.
3. No propulsion dots requires a more conservative entry.
4. Vprofile levels offer entry levels and resistance.
5. 18 Feb 22 13 Put Entries ($12.80, $13.20, $13.80)
6. Profit Target #1 @ 12.05.
7. Stop Loss is 25% of the option price.
Trade active
Prices reached 12.80 today.Bot 18FEB22 13 Puts @ 1.07.
Continuing to watch for Moderate entry @ 13.20.
Good Luck!
Note
Bot 18FEB22 13 Puts @ $0.87 on the move to $13.20.Holding both Aggressive and Moderate Entries for a move back down to the bottom of the range.
Note
Prices jumped today to the Conservative Entry. I bought extra time with the 14April22 13 Puts. The February Puts are down to 39 days, which will start to increase time decay. Purchase Price = 1.03.Trade closed: stop reached
Prices hit both the 25% option price stop for the Aggressive and Moderate entries. In addition, prices have squeezed higher with increasing momentum through 14.00. I stopped out the entire position at 18Feb22 13 Puts @ 0.52 and 14Apr22 13 Puts @ 0.87. Lesson learned: I should have performed my analysis on the /NG futures chart instead of the UNG ETF. Price action on the /NG chart were less probabilistic and had different entry areas. Need to follow future charts and buy options on ETF charts.
Substack - The Bandito Review
@egrajek
@egrajek
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Substack - The Bandito Review
@egrajek
@egrajek
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.