NATURALGAS - Accumulation Is Nearly Over ❗
Pumping here and growing in strength out of this accumulative area ❗
I think at some point we will see a third and bearish wave, but it may just be a shallow one before this really gets moving on up.
Its currently in the retracement 0.618 Golden Window and so perhaps it happens here but it could also make a higher high.
Our deeper buys at the higher time frame 0.618 are looking great now 👍.
Nat Gas is heading Up Up Up 🚀
I think at some point we will see a third and bearish wave, but it may just be a shallow one before this really gets moving on up.
Its currently in the retracement 0.618 Golden Window and so perhaps it happens here but it could also make a higher high.
Our deeper buys at the higher time frame 0.618 are looking great now 👍.
Nat Gas is heading Up Up Up 🚀
Comment:
NG1
Natural Gas Futures has not been printing the same as the CFD and looking a bit more bearish.
Although there was a bullish Creek descending channel, that now appears to be within a higher time frame bearish ascending channel.
This is only on the Futures chart, on the CFD it looks much better.
Its had quite a slump today and if that continues then we may even see another wave back to the lows or even to hit support below.
This disparity is quite annoying because it is effectively doubling my work but obviously without double the reward.
But there's no two ways about it; today's price action has printed an engulf of the previous uptrend.
And that is potentially bearish.
This Futures chart is a bit all over the place here, but it looks a little dangerous in the short term.
Its fine so long as you are ready to buy the area if it goes deeper.
If it becomes corrective then this area may hold just fine 🤨.
Natural Gas Futures has not been printing the same as the CFD and looking a bit more bearish.
Although there was a bullish Creek descending channel, that now appears to be within a higher time frame bearish ascending channel.
This is only on the Futures chart, on the CFD it looks much better.
Its had quite a slump today and if that continues then we may even see another wave back to the lows or even to hit support below.
This disparity is quite annoying because it is effectively doubling my work but obviously without double the reward.
But there's no two ways about it; today's price action has printed an engulf of the previous uptrend.
And that is potentially bearish.
This Futures chart is a bit all over the place here, but it looks a little dangerous in the short term.
Its fine so long as you are ready to buy the area if it goes deeper.
If it becomes corrective then this area may hold just fine 🤨.
Comment:
Nice pop today 🚀.
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The pump above the high has seen a whipsawing sell off liquidity trap to slump back down.
So now the third wave is more likely to be that of a bullish Running Flat Correction before the bull trend resumes.
The correction could also extend further into complexity...
But a 1:0.618 extension @$1.93 could be a useful place to top up if required 🤨.