I've been trading in last 2 months very actively NATGAS. I have noticed there is very powerful level which we just crossed again. If 4h candle stay above then according to historical data we should have strong move up. Apart of this we have news about cold weather hitting Europe. So let's see. I'm long from friday and SL way above in profit but Im looking for adding more to my position. Under the actual price is sitting volume spike where we could rebounce even we had such a big move after todays opening. If not then I will look for entries for long. I'm not interested in short at the moment even I had most of my good profits from shorts.
Good luck! M
This is not any financial advise, always check the market before entering any position and like it if you find it useful
I'm out. I closed shorts too early. Then tried to long but this can go deeper
Muzaaa
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I trade on XTB so to get data in real time I use NATGAS spot chart from Pepperstone to avoid delays I get from NG1! chart. On spot chart you can see there is rejection on very low time frame. That's why I don't open long yet but I'm in short with small SL.
Muzaaa
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As you can see we are at the bottom of the channel. On 1h VMC you can see the signal. Now if you switch to 30 min you will see there is potential buy entry. Bu I will wait little bit to enter long
Muzaaa
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This is the first time I see price moving above and below the mentioned level so I think I will delete it. I didn't want to short but when we didn't continued moving up I opened short towards to 50EMA 1h and there switched to long which I closed to early.
Yesterday afternoon I saw forming parallel channel which I trade lately a lot and there was nice signal on 1h from VMC to the bottom of the channel. I got kicked out few times but at the end could enter on 30 min. I opened two positions last night after opening 6.866 and 6.812 (NG1! prices) and closed them already 6.639 and 6.584. If the channel doesn't hold the price then we can go to 6.3 - 6.4 there I expect bounce if not now. I watch RSI and VMC
I'm in another short in the case we go lower but with very small SL.
ProjectSyndicate
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let's get it seems logical
Muzaaa
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Entered at 0:48 GMT time.
Muzaaa
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I don't look on 1 minute chart usually but I'm interested in this level. There are 2 rejections from it. Lets see in the morning when volume eters in the market. It looks very early to add longs but the mentioned level is so powerful that it could work. I added already and placed very tight SL.
Skipper86
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Thank you for this great financial advice!
Muzaaa
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If we break down volume levels below price, then I'm looking to enter long on 0.618 fib