Bloomberg Natural Gas (BOIL)

Asset Class: Indices
Income Type: Daily
Symbol: BOIL

Trade Type: Long

Trends:
Short Term: Up
Long Term: UP

Trade idea:

-Price rejection from a major Daily demand zone, forming an upward channel.
-Waited for a demand zone to form on a lower time frame (30m) .
-TP set at the SZs with a 7:1 RRR
-Consider trailing your SL or place different orders for each target.
-Apply proper risk management. max position size is 1% of your capital.


Set-Up Parameters:

Entry: 8.92
Stop: 8.53
TP 11.67 (7:1)


!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.

Trade management:

**When price hits 1:1 or T1, consider moving stop to entry in case of pullback for a risk free trade.

**Disclaimer**:

The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.