Idea for NatGas long traders

FX:NGAS   Natural Gas (Henry Hub)
929 14 28
I was in NatGas for a few weeks. It seems topped a few days ago. Now it's heading into an intermediate decline as it broke the trendline . MACD turning down and TSI turning down (had crossed down also).

For those who trapped here I think I would exit as the price is getting pulled back to 2.07-2.08. It's very volatile so I think there will be some kind of pullback.
I would sign 2 points as the end of this decline. I'm pretty sure commodity sector had bottomed so there's a very low chance that it would print a lower low.
Most probably it will turn between the FIBO 50(1.898) and FIBO 61.8 (1.829) level. If you enter here I wouldn't go all in, just keep some dry powder if it wants to print a double bottom around 1.6 and I would add on the position.
Comment: We just tested back the trendline. I don't suggest longs before we enter the green box.
And open only the half of the planned position there. Have some dry powder if it goes to 1600-1700$.
I don't think it will print a lower low. This is just an intermediate decline.
This is a very volatile vehicle so never go all in !
would DGAZ be a good play here?
BTW.. you are the best! Thanks for all your charts and analysis!
+2 Reply
monicaswkk PRO learningtotrade
Can't agree with you more!
+1 Reply
I havent found exactly that one in my saxo instruments... I have found NGAS:xlon , NGAS:xmil , NGASP:xpar . These are shares and are all bottomed - probably. I am just wondering why price of these shares have sunk to the same bottom ... Do you know them ? Are they worth buying these times ? Thank you !
Dymsha andrej123456
NGAS is a CFD. Try to find futures NG / NGM2016 as an example
Thanks, I have just found them under futures. But I am a beginner so I am trading just forex eur/usd and shares....
What's your thought on HG? it bounced up? or just correction? :)
Just a green day. Will be erased tomorrow. It will come down to the green box.
+2 Reply
learningtotrade chartwatchers
Thank you!
What is your prediction on natural gas for this week after the contract change?
Green box (1800-1950) is the main target.
After that we see what happens
Dear Chartwatcher, I found that you're very good at bull flags....will you consider recommending source of learning "Flags", please?
Hi Arpi, Can you provide an update on NGAS? I'm currently holding some DGAZ positions and was wondering if it's time to let go.

Thank you so much!
Good job. Do you think it could rally in short term ? Is it worth buying 3NGL shares ?
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