Woke up this morning to a picture perfect setup - price action had soared above the Linear Regression Indicator at 6:30am in a 64 point move - pretty huge. That leads to a pullback (usually) so I put a Sell order in at 5.360 with my usual 20 point TP 5.340. Between 7 and 7:30am my order was executed and profit taken so another good morning.
Lots of news about price action for NG to actually climb higher over the next 6 months. This morning there was talk of a pullback in the near term as the daily and weekly charts are showing price in overbought territory, which usually means a pullback in price as people (companies) take profits. We will have to see how far price action drops before it soars for the winter - remember as soon as the cold comes people turn on the heat (NG), which depletes supplies therefore spiking price. Keep a close eye over the next 2 months as forecasters are predicting a mild Autumn season - just not sure if Winter will be mild or freezing :-)
Lots of news about price action for NG to actually climb higher over the next 6 months. This morning there was talk of a pullback in the near term as the daily and weekly charts are showing price in overbought territory, which usually means a pullback in price as people (companies) take profits. We will have to see how far price action drops before it soars for the winter - remember as soon as the cold comes people turn on the heat (NG), which depletes supplies therefore spiking price. Keep a close eye over the next 2 months as forecasters are predicting a mild Autumn season - just not sure if Winter will be mild or freezing :-)