Hi friends, Sharing one day chart of Natural gas for my trading idea in it, As we can see that price is consolidated in parallel channel from many weeks and now trying to break channel resistance so if it will break resistance and if close above resistance we can see above marked target can arrive in coming sessions, Price has come here so far by making higher lows and now trading above from last swing high so we can assume it is starting of trend reversal in it One Triangle breakout already occurred inside in channel.
I don't think there is any need to write a long description because charts have their own language, you just have to understand it.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
I don't think there is any need to write a long description because charts have their own language, you just have to understand it.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Comment:
Not able to break channel resistance so far mates, it feel more comfortable and good to trade on certain decided levels and by this we can avoid impulsive trading also. Will update idea for trade active it will break and close above do not want to stuck before a breakout.
Comment:
I think today it will give highest closing after swing top marked on chart mates, if close above it will give more strength for breakout
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Finally it break channel resistance and sustaining above let see will it close above resistance or not today, happened after highest close sharing in update above
Comment:
Nice move mates, Awesome captured
From this we can learn that how a parallel channel breakout works after a long consolidation breakout and how spike can come when after price sustaining good above resistance, from here we can't deny a breakout retest too mates so keep an eye too for fresh entry i will update my fresh entry accordingly
From this we can learn that how a parallel channel breakout works after a long consolidation breakout and how spike can come when after price sustaining good above resistance, from here we can't deny a breakout retest too mates so keep an eye too for fresh entry i will update my fresh entry accordingly
Comment:
After a long time price try to clsoe above 200 EMA on daily chart, i tried to cover maximum snapshot in this update to show where it breaks and close below that 200 EMA so now if it will close above we can see that this breakout will get more strenght and it will pull focus of moving average base traders
Comment:
Hello mates sharing weekly chart in which we can see that price gives highest weekly close after where it finished bottom and made a swing high after so i counted that level as resistance and now it close above that resistance, i am sharing this update only that weekly chart also improving after wanted breakout we can see mentioned targets soon after getting strenght on weekly chart too
Main update which retale to above update
Price manage to close above 200 EMA on secong consecutive session too
Main update which retale to above update
Price manage to close above 200 EMA on secong consecutive session too
Comment:
After breakout now price makes a range sharing on smaller time frame for better chart picture, If break this resistance can move quickly to the target and if break this support we can see breakout retest in that condition mates. By the direction, sentiments and strength it seems it is ready for a flag and pole breakout according to this update. Still having fair gains
Comment:
Price moving towards it's breakout zone now i assuming that it going to retest it's breakout and will bounce from there will update accordingly if it will happen, Long positions still in gains mates. If this retest will success will add more on reversal
Comment:
Price rebound near to it's breakout retest zone, And started moving towards target one again, marked a resistance between if break and close above we can see a fresh buildup of momentum in price guys. Marked consolidation by parallel channel and measured depth of consolidation too i asuume after breakout of marked resistance it will can do measured target too which is near about to target one
Comment:
Price breaking resistance after consolidation (shared in above update) it would be the highest closing we can get if closed above marked resistance in update and can see the consolidation based target or marked target one in idea very soon, as closing are the one of the most important part in technical analysis and that resstance is based on closing basis as we can see that at 3.5772 price it got failed many times to close above so if today it will close above we can see a buildups of fresh momentum in natural gas and can consider as fresh breakout too, 17% gained so far after published breakout friends
