HUGE rejection right off of 2.825 (July 11 high). Bearish setups are still in play as I expect a bullish move on Wednesday and EIA report (last two reports were bullish so I expect shorts to cover a bit). As such, I expect a retest of today's highs ~2.81-2.825. I doubt natty will break 2.825 unless EIA report is extremely bullish. Therefore, I'll be looking to go...
Natty has found a strong bottom at 2.7. An important thing to note about this price is that technicals supported this price as a perfect place to bounce as it served as May's monthly bottom and strong bullish RSI divergence on the daily reflected signs of a strong possible bounce. Anyways, going-forward, regardless of weekend gap (i think we gap down based on last...
These custom support resistance indicator lines show decent places to enter or exit. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long. If your instrument closes below the Red line, we think about Shorting. For Stocks, I prefer to use the Yellow line as my Bearish Trend setter...
Natural gas broke below the Red and Yellow indicator lines and should be shorted because it is in a downtrend currently My custom support resistance indicator lines show decent places to enter or exit. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long. If your instrument closes...
NATGAS is at a daily chart support, we want to see it try to find 3.000's again so a ABCD pattern may be happening soon. I am entering a LONG position and chase this reversal.
I think most of you who were trading Natty in the last few months had mentioned the title at least once or twice. It's toying with us. So there are 2 options : 1. Get out and find some other vehicle. 2. Try to trade it somehow because the consolidation will be over sooner or later. Those who follow me for a while know which pill I have chosen. At the last...
Setting up for the seasonal flow!
I got a few messages that we missed the NatGas rally. I'm not so sure about it... Yes we missed this pop, but it looks fishy to me. We are in the 2nd daily cycle of Natty and this daily cycle was not able to run to new highs. The previous daily cycle was a great run but the daily cycle decline was too strong... We got very close to the the ICL low at 2,4$. I was...
Not much to say here. It's been a very annoying "wait" for a short here but I "think" we got the beginning of a setup. Wait for a break of the lower trendline + flag. However, I think they might want to bring it up for one more push near the 50% retracement. GL
Just a quick observation here. This looks like a corrective structure. I'd LOVE to see the top part of trend line hit, BUT high volume was unable to break the "bigger tend line top" so maybe the fall starts now? I still think "natty" has one more leg down before a major buy.
I've labelled what I see with Natty. I think we see a short leg down in the next couple of weeks. The daily seems to be printing a flag right now. We need more time for confirmation however. After that, we probably see a really powerful impulse up that could last 6-12 months.
It's time to pay attention to NATGAS this week. The next big move up is soon. First area of interest is the 2.95-ish area. GL
Natty looks like on the verge of it's "potential" last leg down. I'm looking at that 2.95 area for a possible buy signal. GL
Been waiting for this line to get hit :) patience!
Good entry point here. TP1: 3.58 TP2: 3.75 TP3: 3.9 SL 3.38
easy down TL makes for a great short. Tight stop at 3.43, target 3.24.