$KOLD one more leg up? Short Natural gas for 100% gain?

Really liking the look of the KOLD chart.

We've largely been in sideways consolidation since early February and with the recent test of the bottom of the structure, KOLD looks poised to move higher.

I bought throughout the day today with the average entry at $61.23. I'm looking for around 100% move to the upper resistance.

Risks:
- A reversal that goes through the bottom support of the structure
- 1 more retest of the bottom of the structure before the real move starts (if that happens, I'd be looking at price action having a tough time making it through $72 leading to a reversal).

Reward:
Upside 100% with an exit at $123.29

ความคิดเห็น:

Next stop $81 and beyond.

ปิดการเทรด: ถึงเป้าหมายการตัดขาดทุน:

I'm out of this for now. Still believe in the bearish natural gas thesis, but will have to reassess once we find a bottom.

ความคิดเห็น:

Next support level is at $44, could bounce there, but I'd rather watch from the sidelines

ความคิดเห็น:

I might add this back if it holds this support level. I think CPI could bring down natural gas tomorrow.

ความคิดเห็น:

Okay, KOLD is looking good here again. Might take another swing at this idea.