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:

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
lighthouse u looking to test upperline of small wedge then down?
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Not to spam you but this is what I see.
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menorad Yahia.Awes
Good catch
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mkdeep04 Yahia.Awes
might test lower wedge line or even lower.. whats happen.. weather still warm ?
Reply
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