moneymaking
Long

NGAS: LONG OPPORTUNITY BASED ON VALID 2618 TRADE SETUP [4HR] !!!

FX:NGAS   Natural Gas (Henry Hub)
Hello Traders,

We potentially have a LONG opportunity on FX:NGAS             based on the 2618 TRADE SETUP. By looking at the current price action, market is clearly in a DOWNTREND. But do notice that the market has placed in a DOUBLE BOTTOM at a VALID TREND LINE (IN PINK). So analyzing this further we can see that this similar situation occured near the TOP HORIZONTAL LINE (IN PURPLE). I'll post a chart for this situation after this description to make my point clear. In that situation market placed in a DOUBLE TOP, which was a POSSIBLE signal of weak strength in buyers. That was certainly the case and we started a nice downtrend from that level.

We have a similar situation in this setup, with DOUBLE BOTTOM showing a POSSIBLE sign of weakness in sellers. With market able to BREAK STRUCTURE, shows that buyers might have more strength than the sellers, at least for the short term. The RISK:REWARD ratio is 1:1 for the 1st target. See the chart above for further details.

Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)

snapshot

snapshot
UPDATE #1: Trade is ACTIVE now !!
Reply
UPDATE #2: Hello everyone, we just got our first target filled. Stops moved to break even :)
Reply
UPDATE #3: Hi everyone, 2nd target has been reached. All positions are now CLOSED for this setup. Good Trade :)
Reply
TahirAli moneymaking
Nice.I love 2618 trades.
+1 Reply
moneymaking TahirAli
Hey Tahir, yeah mate. They work really good, only if you spot them at the right time and location :)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out