Natural Gas Long Opportunity with Great Risk/Reward

Gas has just retraced and bounced off of the 2.65 Support level. It has also met with the lower end of it's uptrend that has been growing in strength since march. This is a good opportunity to enter long due to the strong support, uptrend strength and great risk reward ratio. My stops will be at roughly 2.45. Take profits will be spaced equally at critical resistance levels indicated on the chart as blue rays. 3.30, 3.80, 4.40 and 4.90.

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Best of luck to all and Happy Trading!

Kommentar:

Stopped Out, although my outlook on Gas has not changed. Will likely reenter the market at the same price level with the same stops.

Kommentar:

First Profit taken