MbernieC

SMA-EMA50&200 Play NATGASUSD 30M

Long
OANDA:NATGASUSD   CFDs on Natural Gas
Hello traders, I just completed a trade on NATGAS using SMA_EMA50&200. We can see that the price consolidated above the 200 day average for quite some time, meanwhile the 50 day average and SMA crossed each other earlier. When the price breaks out the consolidation area, it trades between the 50 day average and SMA line, our entry point was on the SMA line which was below. We waited and as the lines got narrow another breakout would occur. We can see that the price broke out from the lines and respected the lines, then we had a clean upward momentum. The reason I like those kind of plays is because I have the ability to have a tight entry point and a tight, identifiable stop loss, and of course more room for profits. the holding period was 3 hours and 40 minutes whereas R= 2.71:1. a really decent trade

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