chartwatchers

Idea for NatGas long traders

FX:NGAS   Natural Gas (Henry Hub)
929 14 27
9 months ago
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.
9 months ago
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 !
snapshot
learningtotrade
9 months ago
would DGAZ be a good play here?
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learningtotrade
9 months ago
BTW.. you are the best! Thanks for all your charts and analysis!
+2 Reply
monicaswkk PRO learningtotrade
9 months ago
Can't agree with you more!
+1 Reply
andrej123456
9 months ago
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 !
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Dymsha andrej123456
9 months ago
NGAS is a CFD. Try to find futures NG / NGM2016 as an example
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andrej123456 Dymsha
9 months ago
Thanks, I have just found them under futures. But I am a beginner so I am trading just forex eur/usd and shares....
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al.calgary
9 months ago
What's your thought on HG? it bounced up? or just correction? :)
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chartwatchers PRO al.calgary
9 months ago
Just a green day. Will be erased tomorrow. It will come down to the green box.
+2 Reply
learningtotrade chartwatchers
9 months ago
Thank you!
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ladyyy
9 months ago
What is your prediction on natural gas for this week after the contract change?
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chartwatchers PRO ladyyy
9 months ago
Green box (1800-1950) is the main target.
After that we see what happens
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gcplau
9 months ago
Dear Chartwatcher, I found that you're very good at bull flags....will you consider recommending source of learning "Flags", please?
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learningtotrade
8 months ago
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!
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andrej123456
8 months ago
Good job. Do you think it could rally in short term ? Is it worth buying 3NGL shares ?
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