In my last post I said price action would go up to 9.5. I didn't think it would hit 10. However, in hitting 10, you know it has to come down - and down it came crashing, all the way to 9.2.
Anyone sell at 9.5? Good idea to me - might find support at 9.
What do you think, starting from Tuesday, should it go below 9? Last week I have shorted it at 9.7 and haven't closed it yet :)
HEIKOTradingSystem
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@MariusPopa, I agree with you, might be Wed but yes, I think by week end it will be around 9, so we should be in good shape. :-) Good call btw at 9.7.
MariusPopa
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@heikotrading On a longer term, October - December, we should easily go over 10, at least this makes sense... crazy crazy times :)
HEIKOTradingSystem
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@MariusPopa, Agreed - will probably go ATH as the weather gets colder. Definately crazy ass times.
McG16
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I was doing some research on NG and oil during bear markets. It seems there’s a repeating pattern. NG and oil pump during the majority of the market dips. When the market makes its largest drop, it is led by a collapse in the previously pumped oil and NG. Just something to watch! Good luck all!
HEIKOTradingSystem
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@McG16, good observation... something to backtest for sure
MariusPopa
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@McG16, That's because the economic activity slows in a depression and, as consequence, less oil and gas is consumed by various industries.. but we are not there yet, maybe next spring? for now, with the good weather and decent gain in storage, I do expect (and hope) the price do go down in the next 2 weeks..
HEIKOTradingSystem
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@MariusPopa, NordStream 1 pipeline shut down for maintanance - time to close our sell orders?
MariusPopa
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@HEIKOTradingSystem, I really don't know, I still hope it could go to at least 8.5... I know autumn is approaching but there is still time for a decent price fall..
HEIKOTradingSystem
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@MariusPopa, ok....I will keep a close eye on it. 😁