Waiting for $3: Patience Before Positioning in Gas

Yes, the attempt to catch the bottom in natural gas ended in failure. Let it be a lesson for the future. Just because something looks cheap and low doesn’t mean it can’t go even lower — and the question is whether your margin and nerves can handle the drawdown. In short — it's a bad path.

It’s too late to short, too early to go long.
I think we’ll most likely head toward the $3 level, and from there we’ll see: will it break or hold? Ideally, I’d like to wait for a proper long setup at that level.