November 4, 2019 NGAS long position. Realized profit: 1%
Price was rejecting the level at $2,7 for the third time now on Natural Gas. During its 3rd attempt price was slammed down by the beard but the bears were unable to keep price down and make a lower high. In stead, price did exactly what we expected it to do. As part of you 4th strategy, many traders were caught on the wrong side of the trade. When 'smart-money' stepped in and took out all of these stop-loss orders price skyrocketed in the other direction. Hence, our 4th strategy got armed and ready to go if our entry criteria were met.
After the break-out with momentum, price pulled in such a way that meets all of our entry criteria and all our strategy prerequisites and bespoke indicators were giving us the green light that this trend would now continue its down-trend. The trade ticked off a clean 80% score on our ‘pre-flight’ checklist and is the 4th strategy in our trading arsenal.
Price would not continue to rally any higher so we took our profits for a quick and easy 1% within just a few hours. 1% might not seem that much, but considering you are trading a 100K account, this is a quick $1.000 profit in just one day with almost no work at all.
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