Elliott Wave Option Signals - Closed UNG Long at 31% Profit

I closed my long UNG position this morning at a respectable profit, but nothing near the type of gain I expected.  Natural gas can really explode, and that's what I was expecting, but it just chopped and grinded higher, which didn't help my position.  I got out when I saw an over 5% rally this morning as it is close enough to the $7 target, but will probably continue higher to the $7.15 range.

I entered at $0.32 and exited at $0.42, a gain of 31%.

HERE IS THE ORIGINAL TRADE SETUP

The UNG popped big this morning almost 4% and I definitely didn't want to get long there. It has since pulled back almost 1.5% so I got long a full call spread position as stated in my previous post:

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:

Long Call Vertical Spread:

Buy April 29 call at 6.5 cost of $0.46

Sell April 29 call at 7.5 collect $0.14

I'm looking for a move to around $7.30 which will target a 100%-165% profit on this spread.

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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.