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Nglong

BOIL 3X / Triple Leveraged Natural Gas ETFon the 4H chart is showing a round bottom reversal at the bottom of the high voume area and rose over the POC line of the intermediate-term voume profile. Price now has room for a 50% move to the top of the high volume area at $ 52. The chart shows the relative volume indicator supports a long buy as does the dual time frame RSI. A speculative call option trade would be $60 in 4 months while a safer call option would be in the money @ $30 in 7-9 weeks. I am also looking at UNG, LNG and XNGUSD on forex.
AMEX:BOIL
by AwesomeAvani
4
BOIL / KOLD - a leveraged natural gas oscillatorHere on a dialy chart I have plotted the ratio of BOIL share price to that of KOLD, its leveraged inverse. They both react to and reflect natural gas prices which are currently rising. I have also plotted the supply demand indicator from Luxalgo and a better RSI indicator. As can be seen on the chart the ratio ascended from relative weakness last fall into a long head and shoulder pattern and then descended into its present range. The RSI bottomed abot 5/4/23 and increasing since then. I see the present pattern as similar to what occurred last fall. My thesis is that I should buy BOIL now as its price ascends until the ratio hits the supply zone above and then flip by selling and buying KOLD instead. I see this as essentially a natural gas buy and sell oscillator. To have more frequent trades and higher overall profits, I would need to decrease the timeframe for the analysis down to 1-3 hours and follow the ratio trending accordingly. At present, I will continue to accumulate further long positions in BOIL
AMEX:BOILLong
by AwesomeAvani
23
BOIL a scalp trade LONGBOIL had trended down from a high about May 19 until June 2nd when it reversed and gained for one week before resuming its trend down. This can be seen on the half hour chart. The The attached RS indicator shows the decreasing strength trending down from 65 to 40 over the past few trading days. Upon drawing trendline support and resistance. I note that a descending or falling wedge pattern is evident. This is a bullish chart pattern predictive of a price action reversal. A volume profile is added to the chart showing the highest volume of trading at the POC line corresponding to a price of $2.58. I will trade a long trade on BOIL by way of a buy stop at $ 2.59 with a stop loss at $2.57. The target will be the top of the high volume area of the volume profile @ $2.74. This trade will risk $0.02 compared with a potential profit of $ 0.15 yielding a reward to risk of 7.5. As it turns out, I did this exact same trade this past Wednesday June 7rh. Besides 100 shares I will buy one call option striking $2.50 with an expiration of 6/30 to leverage the trade.
AMEX:BOILLong
by AwesomeAvani
41
BOIL Natural Gas Price Recover and ReverseBOIL on the 2H chart has bottomed and begun the reversal as this leveraged natural gas fund sees a red to green in the HA candles as well as the volume. Price has crossedover the POC line of the long-term volume profile and exploded from a Doji candle below the mean anchored VWAP with consecutive engulfing bullish candles. The Luxalgo AI predictive indicator suggests a parabolic move higher and a correction in the first part of next week. I have already profited 700% on this trade that I have been in since my earlier idea on BOIL. I will add to the position now but be watchful for a reversal of the reversal while watching a volatility indicator to set the exit.
AMEX:BOILLong
by AwesomeAvani
163
UNG Natural Gas ( Unleveraged) ETF LongOn the 4 hour chart- UNG had a head and shoulder pattern in May from which it descended in a gradual fashion from May 25 to June 2nd and then reversed upward. The reversal occurred at two standard deviations below the mean anchored VWAP and so deep in the oversold area. Price has crossed over the higher VWAP line and so is in the band between the mean VWAP and one standard deviation below it. Volumes have been persistent. Importantly, the zero lag MACD shows the lines in parallel and crossing the zero horizontal line from underneath. I see UNG properly set up for a long trade. Fundamentally, the hot summer may bring increased natural gas consumption to make electricity for air conditioning. The dam disaster in Ukraine may close down the biggest nuclear plant in Europe because of cooling lakes potentially compromised. Natural gas may be an alternative fuel to make electricity. Compressed NG from the US may become more important to Europe, especially since the Nordic Stream pipeline issue developed. All in all, I think natural gas prices are likely to rise.
AMEX:UNGLong
by AwesomeAvani
3
BOIL Megaphone PatternBOIL on the 15-minute chart is currently in an upward facing megaphone pattern. I have drawn in the upper and lower trendlines which are a form of static support and resistance. The megaphone pattern is one of increasing volatility between buyers and sellers and indecision It is the opposite of consolidation in a narrow channel. The anchored VWAP shows BOIL to be between the mean VWAP and the first standard deviation band below it. This is generally considered the lower part of the fair value zone. The volume profile has a high volume area of in the price range of 3 to 3.7 while the POC line is confluent with the VWAP. The "better" RSI oscillator/ indicator shows values above 75 at swing highs and values below 25 at swing lows. My goal in this trade is to buy at the lower ( support ) trendline and sell at the higher ( resistance) trendline. I will be watchful for any fibonnaci retracements of a prior trend. At present, BOIL is at that lower trendline and RSI is showing weakness. I will add to my position now as I did in the whipsaw action some hours ago at the location of the bearish engulfing candles in the premarket and the opening.
AMEX:BOILLong
by AwesomeAvani
Can XNGUSD short squeeze?XNGUSD on the weekly chart showing two years of price action with weekly candles shows the rise in 2021 into spring 2022 then printing a head and shoulders pattern and the reversal to deep into the support/demand zone. The volume profile shows the majority of the trading during this time period to have been between $3.75 and $ 8.50. It would seem likely that there are a sizeable amount of short sellers holding positions with unrealized profits of 50% to as much as 300%. This past week had the best buying volume in six months and provides bulls with optimism If natural gas can gain some momentum and put in green candles with a decent price range for a couple of weeks in a row, the combination of new buyers with new interest and short sellers liquidating and buying to cover their unrealized gains might ignite a bit of a rally for natural gas. I will keep natural gas on watch. I will keep in mind that a breakout without a corresponding volume the response could be a fakeout. A stop loss would be $1.95 below the support zone while the final target would be $4.75 below the POC line. Interval take profits would be 10% of the forex lots every time the price rises by $0.50 for risk management and good profit taking while underway.
FXOPEN:XNGUSDLong
by AwesomeAvani
BOIL UPDATE LONGTERMOn the daily chart, BOIL price has never been lower and the relative volume has never been higher in the past five years. Being mindful, this is leveraged it falls faster than an the unleveraged counterpart of the same commodity ( UNG INL) However moves in the opposite directions are also amplified. Horizontal red lines are drawn in consideration of pivots on the 4H. Price was nearly $600 in 2019. Can you think of a fundamental reason why price cannot rise from the present price to something closer to that of 2019. To go from $4 to $600 is 150X in otherwords 15000%. Is there anything wrong with my math or the chart?
AMEX:BOILLong
by AwesomeAvani
4