Technically, we see the price is rejecting from a long term support:
On D1 chart the price made a false break and today opened with a gap. A nice chance to enter with a better R/R ratio. There is a double on in play.
The SL and target levels are for information purposes only because in such situations its better to trade using INVESTING STYLE. Off course we need to be well capitalized because this style is used by commercial and institutional investors.
Some details about this trading style.
- Enter the market with no stop loss and no leverage.
- If the price makes new lows we ADD new positions.
- The reason is simple. Unlike the forex market the price has a floor and can not be near "zero". We could already touched the floor.
- The oil has already rebounded, we expect the gas to do the same.
- According to the (commitment of traders report) the commercial investors (the "smart money") are heavily buying the gas.
This trading style is not for everyone, i just wanted to post for your information. I will return to this post next months to see what happened.