I don't have a working cycle count in NatGas right now as I haven't traded it since it topped earlier last year.
This is a falling knife. 2 days ago we lost 3.300. That was the 2021.02.18 top and the Fibonacci 78,6% retracement level. As we broke below that level I see nothing until 2.442 and 2.267. If anyone wants to long this needs to wait at least a reversal candlestick pattern but I wouldn't try any long position before price drops between 2.442 and 2.267.
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Trying to bottom at 2.442 just as I mentioned a few weeks ago.
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We migh have a fast drop -stop run - to 2.267.
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The red arrow drop what I highlighted on the last picture is just a possible scenario what may or may not happen
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If you start to short it here for a small drop you might find yourself in a short squeeze because sooner or later a nice bounce s coming
Hi, I've been trying to find out how I can buy spot NATGAS 1:1 to buy low and hold without exposing myself to high leverage, any suggestions where I can start? I'm pretty sure we're at a great place to accumulate.
mkandy
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Can we accumulate from 1.8 to 2.2 for a target of 2.5-3.0?
mkandy
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Hi Arpi, You told NG is a falling knife :-). A s you told broke 2.0 and consolidating. Any possible bounce from here or more downside? Kindly comment!
pakchacha
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Hi Chartwatcher, what you recon now? did the reversal candlestick pattern took place? We have reached the 2.442 price. Thanks.
@pakchacha, the time to sell was mid December now we are waiting to buy
pakchacha
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@chartwatchers, I meant to say if I go long now, at what price should I take profit?
chartwatchers
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@pakchacha, first, we need to bottom. When the Low is in we are going to get a rally for a few days, maybe a few weeks. Only then we need to search for exit prices.
pakchacha
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@chartwatchers, thanks for your guidance. Looking forward to hearing from you when we reach the bottom