Mar 7, 22 NG Falling, but how far?

So today there is a pullback on most commodities as everything went through the roof last week.

I almost put another Sell Order in at 5 early this morning, but I didn't - cold feet I guess being Monday. So I still have my order in at 4.5 and I will probably take a loss on it this week. Not sure if price will actually get back down to 4.5 anytime in the near future.

Russia looks like its not going to stop this war anytime soon.
Biden is still thinking Oil Sanctions against Russia.

With these 2 'facts', who knows what's going to happen over the next 2-3 months. What I can guess is that there is more of a chance NG will go up then down. So the faster I get out of my losing position the better. I am closely monitoring for when price action looks like it might reverse. If I can get out at 4.7 or 4.8 I will take it. It will be a small loss but better that then lose my shirt.

There are other opportunities and I will post and keep you updated.

Heiko

İşlem elle kapatılmış:

So I took the close at 4.8 just to get out of this trade. It's a little below that now but I decided to take the small loss as I took those 2 trades with Wheat and Corn.

Sometimes you lose - this one I lost. Sucks but it is what it is - onto making money again :-)

Heiko