I usually short term trade/swing trade so often trade support and resistance no matter market trend, this would be on 1H (1 hour) time view and below, long-term views will be depicted on the 4H (4 hours) and 1D (1day) view, like this chart.
Looking at the long-term analysis on the 4H and 1D view of natural gas, it looks like it has more or less finished an upside and headed downward some. There was possible revisit to 3.02-3.07, but market seems to be done going up for now. This is strongly supported by the evening doji star depicted on the 1D view which is a solid indication of market to head down.
I would say anywhere now is a good area to short the market, or you can look at 1HR view (intended for short-term trade) for a more suitable entry point to go short. Suitable entry point being when many indicators are corresponding a short for the 1HR view.
I suggest looking a 2.828 and 2.757 as possible exit points when shorting.
Please remember to look at what indicators are telling you if you can understand some, as they would likely help you determine whether to get in trade for a confirmed downfall. Also, do set stop losses but be generous with how much room you allow for this due to candle wicks.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
Looking at the long-term analysis on the 4H and 1D view of natural gas, it looks like it has more or less finished an upside and headed downward some. There was possible revisit to 3.02-3.07, but market seems to be done going up for now. This is strongly supported by the evening doji star depicted on the 1D view which is a solid indication of market to head down.
I would say anywhere now is a good area to short the market, or you can look at 1HR view (intended for short-term trade) for a more suitable entry point to go short. Suitable entry point being when many indicators are corresponding a short for the 1HR view.
I suggest looking a 2.828 and 2.757 as possible exit points when shorting.
Please remember to look at what indicators are telling you if you can understand some, as they would likely help you determine whether to get in trade for a confirmed downfall. Also, do set stop losses but be generous with how much room you allow for this due to candle wicks.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
Comment:
Looks like Market did go down to one of the yellow resistance lines at 2.758 and market is currently back to where it was at when I charted this to go down. After 2.758, I changed my direction to go long and i plan to stay in my long to above 3.0 ;)