08Apr11:17 amEST

No Dice on This One; Chess Moves

Honoring my planned stop-loss, I sold my UGAZ long (levered long natural gas ETF) at $2.20 from my $2.42 entry for a loss. 

On the UNG ETF daily chart, below, the upside breakout to the highlighted (in light blue) wedge failed to sustain itself for a tradable leg higher. Yesterday's initial rally was promising, but sellers proved to be too much for the move to hold. 

As I have stated before, stop-loss discipline is paramount in trading these levered ETFs in order for the big wins to actually mean something. 

China Wearing That Game Face... Stopped in Its Tracks


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