I placed 4% of my trading portfolio capital into a long UGAZ position, at $15.28.
My protective stop-loss is if the triple-levered long natural gas ETF loses $14.60, below.
I have been outlining my thesis on natural gas for a long trade for several days now tracking the sharp breakout and then pullback in recent weeks. The UNG, straight-up natural gas ETF, can be seen below breaking up and out from a bull flag pullback pattern.
I am playing for natty to make a meaningful higher low here, in effect making another push to fresh highs.
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