Looks like a Fibo 361.8% extension shown that Wave 3 has finally finished on NG1 incredible bullish run. Now, I would expect a retrace and, to find an area to where the price could go, I used an Andrew´s Pitchfork. It shows a Fork line is located near the value of 2.800 which is also a 50% retracement Fibo.
Shorting Natural Gas futures from current value may look a good idea. Stops would be above today´s max value which is 3.750 and our TP is 2.850 which gives a very good Risk-Reward ratio. Targets of 3.050 and 2.630 are also perfectly valid
Shorting Natural Gas futures from current value may look a good idea. Stops would be above today´s max value which is 3.750 and our TP is 2.850 which gives a very good Risk-Reward ratio. Targets of 3.050 and 2.630 are also perfectly valid
Trade active:
Shorted 3.600 with a limit order, it activated on asian session. Moving to breakeven now
Comment:
NatGas is making it difficult.. Was closed at breakeven and shorted 3.65 again. Now at breakeven. Again...
Comment:
Is this it?..
P.S. Breakeven again
P.S. Breakeven again
Comment:
Tagged the median line and now bouncing back... Somebody really likes it with gas =)
Comment:
Watch 3.380 level: if it holds, adding shorts is a good idea
Trade closed: target reached:
Trade closed at 2.85
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!
