ThinkingAntsOk
Long

Long Trade Idea on Natural Gas + Weekly view by ThinkingAntsOk

OANDA:NATGASUSD   CFDs on Natural Gas
Use this as a guide to develop your own setup

Main items we see on the 4hs chart:
a)Price is inside a descending channel
b)On MACD we can see a bullish divergence in the inner waves of the descending channel
c)On a closer look, we can see that the price broke out from the descending trendline and now is leaving a Pin bar on the zone
d)We will wait for a retest of the broken descending trendline and an ABC structure (like flag patterns) before taking long setups
e)Currently, this is just a trade idea we need to wait for more confirmations before opening positions.

Weekly vision:



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I think it may falls more, what are your thoughts?
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@Mgbotoe, We think that there are 2 possible zones in which the price may find support, the most probable just for being a more relevant trendline is the lower line of the descending channel and is an exact copy of the slope of the highest trendline of the descending channel. our approach will be to see the reaction there and take a look at MACD histogram for divergences, that would be a strong signal in favor of the Bullish Thesis, If that happens we will develop a new setup to look for entries, otherwise, our bullish thesis would be canceled

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