chartwatchers
Short

NatGas - Panic selling

FX:NGAS   Natural Gas (Henry Hub)
3748 46 62
I underestimated this decline. I thought we get a bounce before the panic selling. Didn't happen though.
I read the panic selling phrase on the chat at different vehicles. I use the panic selling only at the intermediate declines when price breaks through an important resistance. This time this resistance was at 2.88$.
Yesterday we sliced through that level like hot knife through butter.

A lot of people were doubting when I set my target a month ago at the 200 SMA on the daily chart .
We are now closer to the 200 SMA than to the highs at 3.4$. Interesting how things are changing in a week....

The next important resistance around 2.5$. This is the last DCL and the 2016.01.11 high. (Also Fibo 50)
I'm 100% sure ( yes 100%) we are going to break this level before this decline ends. The panic selling will end next week. And I'm pretty sure we will tag or maybe marginally break below the 200 SMA .
TSI and MACD are supporting this short. RSI is oversold but it will print an oversold zigzag before this decline ends.
So we are on day 1 of the panic selling . If my calculation is right it's going to bottom next week Tuesday or Wednesday.

Don't forget when this decline ends I will enter heavily in longs , this will be a fantastic buying opportunity.


Comment: DAY 2 of panic selling.
Lower low again.
snapshot
Comment: At the end of this panic selling nobody will be long.
Everybody will be talking about sub 1$ NatGas prices.
Comment: I'm trading CFD in Natural gas. Above on the picture is the Henry Hub Natural Gas.
Yesterday before the close we had a pop in US NAtural Gas December. But it was only an hourly pop from 2.960 to 3.060. The continuous contract doesn't contain today's big green candle on my trading platform what we have in Natural Gas (Henry Hub).
We are still in the panic selling.
Comment: It's the second day when we print a green candle.
In the panic selling should not be more than one green candle, and most of the cases not even one.
Though I still think this decline not finished I'm going to take profits on half of the NatGas positions.If we have a bounce NatGas could be very volatile so I will book some profits here. I will update NatGas on the weekend.
snapshot
Comment: Working on the update here.
Just give me 10 minutes.
We will be entering to the panic selling soon.
Trade closed: stop reached
GM Arpil... now that you have closed your shorts, is it a good time to go Long ?
Reply
Hi Arpi, we really need an update from you, please.
After a spike, it seems we're back in the bearish channel
Reply
hello sir, any update on the gas? Thanks
Reply
Better to say CRAVING your update :-)
Reply
Waiting for your update, Chartwatchers
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We see NG rolling into Dec. contract yesterday.
NG: rolling into Dec.
Reply
Thanks for the update. I was getting nervous about my profits too and bailed out. Good profits - thank you for all your advice on this one! Looking for the next "clear" move up... :)
Reply
how do you think of the GAS for next week? Is still there a room to drop? Thanks~
Reply
Have your thoughts changed on this at all? We had a daily swing high, RSI, MACD and Stochastic have turned, are we still going down from here you think or is it time to take profits?
Reply
Always trade with the newest contract. Regard the pop/contract expiration as opening price. The short train is already gone.
NGAS bull is back on rail. Long FTW.
Reply
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