Yet another bearish 1 2 3 4 count trade to the downside.
On the daily time frame the price chart of NATGASUSD has formed a bearish set up called the 1,2,3,4 trade count to the downside. The most important part of the bearish move is that price must close below 2 to indicate the major move to the downside. With the use of the fibonacci extension raito, the first target is close at $2.035, looking to push lower to $1.911 down to $1.849. All targets pointing at the extension ratio. Opening a short trade to the downside with a potential 5% stop loss is advised.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
On the daily time frame the price chart of NATGASUSD has formed a bearish set up called the 1,2,3,4 trade count to the downside. The most important part of the bearish move is that price must close below 2 to indicate the major move to the downside. With the use of the fibonacci extension raito, the first target is close at $2.035, looking to push lower to $1.911 down to $1.849. All targets pointing at the extension ratio. Opening a short trade to the downside with a potential 5% stop loss is advised.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.