As shown on the 4H chart, UNG has been trending down albeit with a triple top in April
and a head and shoulders in early May. It is presently at the bottom of the long term volume
profile and two standard deviations below the running mean anchored VWAP. This is
deep undervalued territory. On the MACD indicator, the K and D lines intersecting while under
the histogram which is positive portrays an early entry signal. I believe that it is inevitable
that UNG will have an uptrend in June as it did in April and May. The uptrends had a slope
of about 1.5-3% per day while underway. I will take a long trade in UNG and potentially BOIL
while leveraging XNGUSD on forex. For UNG, the targets are the POC line of the volume profile,
and mean VWAP , the final target is one standard deviation above VWAP while the stop loss
is three standard deviations below VWAP ( thin green line).
and a head and shoulders in early May. It is presently at the bottom of the long term volume
profile and two standard deviations below the running mean anchored VWAP. This is
deep undervalued territory. On the MACD indicator, the K and D lines intersecting while under
the histogram which is positive portrays an early entry signal. I believe that it is inevitable
that UNG will have an uptrend in June as it did in April and May. The uptrends had a slope
of about 1.5-3% per day while underway. I will take a long trade in UNG and potentially BOIL
while leveraging XNGUSD on forex. For UNG, the targets are the POC line of the volume profile,
and mean VWAP , the final target is one standard deviation above VWAP while the stop loss
is three standard deviations below VWAP ( thin green line).
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www.youtube.com/watch?v=T2hPuBXU...