The natural gas ETF (UNG) is really testing my trading discipline as it closed two days in a row right on the confirmation level of my proprietary indicators, and also did not close above the upper end of the trend channel. So I'm a bit apprehensive here. With the heavy news hitting the wires this week, and the fact that this ETF can really move fast, I want to get some exposure to a long trade here. If I like the open tomorrow morning I plan to go long with with only half of my normal position size with the following setup:
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PLEASE NOTE: THIS IS JUST AN ELLIOTT WAVE ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.