Trading the trend: short natural gas
Since the natural gas downtrend is well established we would like to go short but only on a bounce to 2.302 with a stop loss above the late May low at 2.560 and a downside target around the 2.000 mark.
(AI Video Summary)
Previous trading outcomes
In this week's episode of "Trading the trend," Axel Rudolph recaps recent trades, starting with the lucrative long position in spot gold that began in early June, hitting record highs near the $2,500 mark.
A short position on the US dollar index turned profitable after initial losses, showcasing the importance of strategic stop-loss placements.
Rudolph also revisits the short position in New York sugar, which, after being stopped out, was re-entered at an optimal level, bringing potential gains.
Additionally, a long trade in Brent crude oil was mentioned, which, despite an initial rise, required vigilance with an unchanged stop-loss.
This week's trading opportunity
The episode concludes with a recommendation to short natural gas futures but only on a bounce to 2.302, with a stop loss above the late May low at 2.560, and a downside target around the 2.000 mark.
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