Commodities - Natural Gas Reversal (S3)
Idea for Natural Gas Futures:
- NG is at the top of the Trend Risk Range:
- Price was rejected at confluence of Trend Resistance + Rising Wedge.
- Short at Re-test of Wedge Bottom with a 2N Frequency Stop Loss for TP1 Yields:
296 Ticks
3.25 R/R
- Look for Exhaustion Gap to begin new Trend and continuation of the short position for S1 Trend entry.
GLHF
- DPT
- NG is at the top of the Trend Risk Range:
- Price was rejected at confluence of Trend Resistance + Rising Wedge.
- Short at Re-test of Wedge Bottom with a 2N Frequency Stop Loss for TP1 Yields:
296 Ticks
3.25 R/R
- Look for Exhaustion Gap to begin new Trend and continuation of the short position for S1 Trend entry.
GLHF
- DPT
Trade active:
Price runs for stops, then re-enters the ML channel. 2N Frequency SL defended position:
Trade closed: stop reached:
It takes the upper channel, need to watch out for that on these setups: