Jason7sc
Long

Natural Gas - Support Held

FX:NGAS   Natural Gas (Henry Hub)
145 11 5
Nice confirmation today on the 4hr timeframe. It held the support area around 1.725, with a nice rejection candle, giving a wider bullish channel . Additionally, it completed a measured move at 1.803.

After today's move, we will be looking for a retracement, where support should be verified, and a long position can be taken. Targets ahead are 1.836, 1.854, and 1.880.

Breakdown of trendline yields targets 1.704, 1.681, and 1.647, where direction will be reevaluated.
Trade closed: target reached
any update on this?
Reply
Multi-day measured move completed. Waiting for pullback to reload.
snapshot
Reply
Jason, do you see sunday and this morning's price action as normal price action?
Reply
Jason7sc PangBlood
All markets are getting hit today. Tightened stop loss to 1.755. Watching reaction at trendline and holding.
Reply
PangBlood Jason7sc
thanks
Reply
Jason7sc PangBlood
no problem. measured move with this retracement is at 1.886
Reply
Jason, do you see sunday and this morning's price action as normal price action?
Reply
Do you think Friday's price action, was the retracement you were looking for?
Reply
Jason7sc PangBlood
The pullback only hit the .236 retracement during the European session; not as much as I would like to see. Using the 15min timeframe for the previous two days, we are currently between the .382-.618 retracement zone (multi-day). I'm looking for price action on sunday night and monday to fuel a multi-day measured move up to 1.912 (assuming a 50% retracement). Stop loss is situated at 1.725, where support was previously found. I've attached my updated chart.
snapshot
Reply
PangBlood Jason7sc
Thanks! Great analysis
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
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
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out