Natural Gas - Bearish Bat

Commodities peaking my interest this week, we've got a textbook bat pattern on the 4h chart for Natural Gas that's in the final stages of the CD leg.

The measurements for a valid bat pattern are detailed below.

XA Retracement: 0.382 - 0.50
AB Retracement: 0.382 - 0.886
BC Projection: 1.618 - 2.618
XA Retracement: 0.886

There's a butterfly pattern on the 1h chart that aligns with this larger structure, we may utilise this for a lower timeframe entry once the bat pattern PRZ has been confirmed.

Looking to jump on this by the end of next week!

Safe trading everyone :)
Comment: Natural Gas has now confirmed the bearish bat pattern but it completed far sooner than I expected... My advice would be to hold off, don't execute just yet.

Price recently broke out of a 6-7 month long descending channel on the daily chart as shown below.

My initial expectation was a short-term pullback following the breakout, which the bat pattern provides but as of right now direction is not clear. I'm waiting for price to develop further whilst watching the 4h and daily chart for strong indication of a reversal.
📉 Learn How to Trade With Precision: https://www.sixfigurecapital.com

📘 Download the Harmonic Mastery Ebook (Free): https://www.sixfigurecapital.com/harmonic-trading-ebook

💬 Join me on Telegram: https://t.me/SixFigureCapital
could be due to south african applications being fast tracked? ie increased supply coming from that regoin?
I believe it will move up starting 11th September
@qbangash, it's on track just now, too early to tell
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out