Long-term trendlines are not compelling reasons to take a trade on their own, however, as participants begin to acknowledge them, the idea is more likely to gain traction as a socially constructed phenomenon. In this case, Nat Gas has broken a technical trendline, that for many market participants is a *technical as an idea*.
NATGAS - Potencial Libra Pattern This is a good chance to Long NATGASUSD Possible scenario on the chart.
The unstoppable NGAS may have finally peaked. Tight stop at top of channel. TP1 3.4 TP2 3.3
I believe that Natural Gas is in a strong corrective move upwards. It is trying to join the uptrend again. However, it has not completed its total correctional move yet and should re-visit the 2-area since it forgot to do so in its rush on the way up.
found a H&S on the daily, targets on chart. Looking for some range/consolidation before the next leg up to the $3 seen in July, and then plummet just in time for a global warmed winter (maybe?) MAJOR KEY for long is breaking $2.87 this week or next!
What an epic fall on natural gas lately. The commodity tracking ETF $UNG has collapsed from $9.65 to its current $7.00 in the last month. This is a whopping drop of 27%. I love collapses like this because it means there will be a big bounce. If an investor or trader can analyze the commodity chart correctly, there is huge money to be made. I did it. After...
Upside movement was 5-3... time to turn up. Will see it is an impulsive or just a corrective move to the upside. Levels are on chart.
Natural gas has retraced 50 % with a very steep drop-curve and is oversold. The momentum indicator is flat and has turned. This is a good place to add first long position. I will add 50 % here.
Hi guys! This is my idea of NATGAS, being on a support area i think rebounds and you cane take long position.
Details on chart. Little drops of water make a mighty ocean.
Take a coffee, sit down and study this chart... Did I expected such a pullback? No way, but - it followed the rules of Nature, of Newtons law and Babsons and Andrews research. What to do from here? Bet small, however you play it. P!
SPY ELECTION UPDATE: SPY Still trading between red resistance line and the dotted black support line. Even though it tried to break several times the black line but slowly and surely its going down and will breach soon. SPY upper limit is $214.71 and lower limit is $185.20 (even though it may not reach on pre/post election but the hype will be there)
QQQ HOURLY CHART ELETION UPDATE: Upper limit is $119.72 and lower limit is 109.12. Unlike SPY QQQ is very strong and doesn't show weakness sign yet in the price chart but technical are weak though. Need good options strategy heavy on the short side and less on the bull side. But looks like it will move either way in pre/post election days.
I bought this Widow Maker spread where I thought it was at a low. Apparently it's lower. I sold a PUT to reduce the cost basis. Nothing to do but hold through the draw down. My cost basis is 0.210