This is my rinse and repeat trade for now and why I still like trading it. Yes NG is still trying to find the bottom but it's getting closer and closer and I want to have some skin in the game when it does. All these 3X ETF's are for short term trading for the most part unless you have a serious trend change that holds. My trading plan includes NG going down to $2 or lower so I will continue to practice risk management with that in mind. I already closed my position and waiting to get back in lower. I expected a small bounce at least after the big frop earlier now it is a matter of testing the new lows. I may add a small position below 7.35 again just to have some skin in the game over the weekend but probably will just wait for Monday and see where the market is before I get back in the game. If NG drops down below 2.06 I may hold some over the weekend.
Sold 1/2 @ 7.53 to be safe. BOIL still wants to hold above 7 for now and this looks like a great scalping zone before the next sell off or who knows maybe even a squeeze. I can't wait for the squeeze because it could be historical when it does happen. I am ready to load up again if NG drops back down to the 2.06 zone again. BOIL decay will should take it below 7 is what I think. GLTA