FullTimeTrader
Long

NGAS-Great opportunity to buy gas with low risk

FX:NGAS   Natural Gas (Henry Hub)
576 4 8
Hello, from my point of view gas and oil             already bottomed.
Four months ago i published and idea on NGAS long:
NG1!-buy and hold the natural gas - investing style

That idea is still valid, price didnt break last D1 lows and now is consolidating forming a series of 1-2 s
Last ugly consolidation is wave 2, i saw this structure on other charts.

We have also:
- AB=CD pattern tell us that correction for wave 2 has finished
- 0.786 fib retracement (deep retracement for wave 2)
- price is bouncing from corrective channel
- nice diamond on H4 chart, this pattern usually means trend change
- Oil             has already rebounded (corrected), we should expect the same for gas (correlation information is useful!!) but not to the pip off course.

Most important the R/R ratio is good. The invalidation level (stop loss) is near 2.55

Best regards

***********************
Diamond pattern visible on H4 chart
snapshot
Not to spam you but this is what I see.
This has not bottomed yet, broke down from big support!
Reply
menorad Yahia.Awes
Good catch
Reply
mkdeep04 Yahia.Awes
might test lower wedge line or even lower.. whats happen.. weather still warm ?
Reply
lighthouse u looking to test upperline of small wedge then down?
Reply
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