Just wanted to update the chart a bit. This is what I see.
So the break out is near. I continue to hold my longs and accumulating more when the price drops.
The volume drop on the sell side suggest a reversal. I think it will be to the upside. Anyway, I am paying close attention to the lowest demand zone. (fingers crossed we don't breach it)
Comment
⋅
Well friends, what a dump we got. I am holding a little bit of of a bag, but I still anticipate a bounce. As you can see we retraced to the demand zone. I am not a fan of this price action, looks like every bounce is faded right the way.
I looked at the order book of the broker I am with and there are practically no short positions at these levels. Everyone is loaded up on longs. So let's wait and see what happens.
Comment
⋅
I added to my long positions again. I expect a bounce tomorrow. Major divergence on the 4H RSI and low sell volume.
In any case, nothing is for certain, so if we do end up cracking below 2.06 support I'll consider closing my position.
Comment
⋅
I am out of my position, unless I see a confirmation at least.
yes I have a bit in , ... warm Temps in Europe arnt helping the prices but injection season starting April 1st will be interesting... can be volatile.. can make or break
carefulRhino97368
⋅
@twin44350, Nice. Yeah we should see a spike in natural gas prices. Timing a bottom is never easy lol
twin44350
⋅
overall prices go up going into hot months due to power plants burning more gas
twin44350
⋅
should be getting close to bottom like last time , ready to make some money back
twin44350
⋅
you sell you longs yet or still holding ?
carefulRhino97368
⋅
@twin44350, I got rid of half in case we drop further. This looks like a good demand zone though. Jim Crammer said NATGAS is a loser, which means NATGAS is bullish so maybe we will finally see some action to the upside. But for the most part I have kind of given up on it. My main trading focus is on equities, this is just hope to catch the bottom thing.