NatGas is acting like a good textbook. started to decrease today as we are on the 2nd day of panic selling.
I'm looking forward to see more decrease tomorrow and the day after tomorrow also.
We can have our bottom next week Monday or Tuesday. I'm going to enter with longs somewhere next week.
I've uploaded the on this NatGas intermediate cycle. The 50% is at 2.450 $. The 200 is at 2.4$. So I think we are going to be all right by entering around 2.4 $ with the longs.
If something happens to NatGAs it still can drop to the 61.8 FIBO level but we can easily survive that drawdown and we can add to our longs.
Most probably I will close my shorts tomorrow or on Friday when we are getting close to the 200 .
So this post is a neutral post : who is short with me get ready to close it soon , but I don't recommend to enter here with shorts. We are getting too late...
If we close this trade at the 200 we are going to be near 30% profit on this trade. Who played DGAZ will be in 100% profit...
Waiting with entering longs though.
If I close I will update here.
only thing that worries me a bit is that macd didnt crossover yet