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Re: Dx, Ng/Lee
In Response To: Re: Dx, Ng/Lee/Trades ()

Hey Lee. Well regarding July NG a short term indicator I use only needs Monday to close at Friday's price or above for a 'short term' buy signal for the 1st time in a while that would likely take the price from 4.32 to possibly 4.80. No guarantee as this would still be a countertrend trade and we all know how trading against the trend tends to be hazardous to the trading account. But it is what it is and even NG has its bounces even if they are the dead cat type. And a trade is a trade I guess. But that's what I am seeing here and am considering it with UNG or GAZ type of ETF trade. But price would need a 'close' above Friday's close to 'confirm' it. And the best way to manage a trade like that if long is with a trailing stop and let the market decide when to get you out quickly without dealing with any sudden surprises back down again.

DX has cleared important resistance and the very overdue rally should continue. Still lots of short positions not covered yet with DX and just as many long commodity and stock trades not yet sold as well to complete the carnage. Should see another 2-3 pts on DX at least I think but not straight up unfortunately so we'll all have our work cut out for us to trade it's whiplashing trend back up for some time. It wouldn't want to make things easy for us would it now...........

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Re: Dx, Ng/Lee