Natural gas dropped to a major key weekly structure support.
The underlined structure matches perfectly with 618 retracement of the major bullish impulse giving us a confluence zone.
On that, the price formed a double bottom formation on a daily time frame.
The neckline breakout confirms a coming bullish...
NATGAS on the 4h chart tested a few times the bottom structure.
The price is now moving to the resistance structure and according to Plancton's strategy IF the market will break above and satisfy the Academy rules we will set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵...
$BOIL Target 39.24
Alright… moment of truth, haha… will BOIL bounce up off of the red 35EMA and hit target.
I was tempted to take profits yesterday but I did not… so let’s go…
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I usually trade both ways, but lately I’ve been focusing more to the downside because of how high the market is. It makes more sense to sell puts right now, and...
NatGas is slowly leaving the warm realms of the south behind, aiming for the resistance line at $4.825. Once there, we expect it to rise even further north.
However, we also see a 42% chance that the price could decide to soak in some more warmth and go below the support line at $3.396.
NATGAS on the 4h chart tested a few times the bottom structure.
The price is now moving to the resistance structure and according to Plancton's strategy IF the market will break above and satisfy the Academy rules we will set a nice long order.
-----
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵...
NEW POSITION $KOLD Target 13.26 for 14.11%
Back in KOLD at the moment… in at 11.62
Sell Target - 13.26 for 14.11%
Or Double Position at 9.98
GL
If you're a NatGas Trader I'd love to hear your opinion on where it's headed!!
●● Preferred count
● NATURALGAS ( Currency.com ) 🕐TF:1W
Globally, the price of natural gas is driven by the third wave of the Grand Supercycle , within which the final wave (V) is developing. Wave (IV) that preceded it took the shape of a w-x-y double zigzag , although one should not exclude further...
Short on break - 1H close below trendline
Price Targets
3.980 - previous gap fill zone
3.536 - to reach this point is very optimistic lol
Alternatively, we can look for a bounce from trendline, same as what was posted in the IDEAS section
Prices and trendline drawn based on Natural Gas Continuous Futures listed on NYMEX, prices may differ from your broker
And with the winter, the price of natural gas is increasing, too! This means that the course is going to leave the support at $3.396 farther behind. What lays in front are surges past the resistance at $4.825 all the way up to $6.466.
Can you feel the heat?
Natural Gas might find support on the rising trend line if it holds or break through to the bottom if the trend line doesn't hold price. The past weeks we saw a very strong decline in price which even the 100MA and 200MA could not be able to hold. We will observe price once it reaches the rising trendline for bullish confirmations for long trades or bearish...
Bullish scenario:
Analysis based on pure technical - trend line analysis - Fib retracement (power of Fibonacci Retracement , so we can use as like our advantage in the future), I think now patience is the essential key. Buy the dip!
"Buy the dip" opportunity
News:
The US benchmark for the price of natural gas was in negative territory early in the December 14...
The natural gas markets have gone back and forth during the session on Thursday, hanging about the $3.80 level. Over the last year or so, I have been asked to do less analysis on natural gas, but quite frankly my email box has been full of questions as to what is going to happen with natural gas next. Retail traders have no idea, nor do some professional traders...
Natural broke the head and shoulder pattern and it had to gave a move of 3$.
With weekly COT data, larger trader are slowly increasing their position.
At this juncture, going for short is not a recommendation.
Hello Traders! Support me on Youtube and check 'Related Ideas' for market context!!
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action.
Thanks for the...
