Top and Bottom analysis on Natural Gas (NG) by ThinkingAntsOk
Use this as a guide to develop your view on the Chart.
Main Items we can see on the 4hs Chart:
a)After the breakout of the Massive corrective structure, we saw the beginning of a new bearish motive wave
b)Our main target for the end of the bearish trend is the Daily Support zone at 1.650
c)The main structure for the down move is a descending channel, is very important to pay attention to it and see if the price keeps respecting it.
d)If you have a short position opened the support zone can be an excellent target
e)If you want to open Long positions, wait for the price to reach the support zone, and give at least one week to see a formation there.
Daily Chart
Main Items we can see on the 4hs Chart:
a)After the breakout of the Massive corrective structure, we saw the beginning of a new bearish motive wave
b)Our main target for the end of the bearish trend is the Daily Support zone at 1.650
c)The main structure for the down move is a descending channel, is very important to pay attention to it and see if the price keeps respecting it.
d)If you have a short position opened the support zone can be an excellent target
e)If you want to open Long positions, wait for the price to reach the support zone, and give at least one week to see a formation there.
Daily Chart