Trade Idea: Buying Natural Gas
Reasoning: Buying natural gas at a support level, currently in a strong uptrend
Entry Level: 8.909
Take Profit Level: 9.980
Stop Loss: 8.620
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Gazprom, the russian state-owned energy giant, cut indefinitely the flow of natural gas through the Nord Stream 1 pipeline into Germany citing an oil spill in a turbine.
This looks like the weaponization of energy flows by the russian authorities.
Russia will not restart gas supplies to Europe until western sanctions are lifted, official said.
US natural gas prices posted their worst daily performance since mid-November 2018 today, plummeting 17% to $7.2/MMBtu, as of writing, after Freeport LNG announced early Tuesday morning that it does not expect the export facility to resume full plant operations until late 2022 due to the explosion occurred on June 8.
The Freeport LNG facility has a production...
I am still bullish on NaturalGas, as we are in a bullish market structure and we can see how the price rejected from bullish orderblock + psychological level 8.00$. I expect the price finally to fill that H4 imbalance, also to take out BSL (buy side liquidity) and liquidity above PWH (previous weekly high), then we can see a retracement until PWL (previous weekly low).
Expecting bullish price action on this pair but simply on a fundamental reason, price tapped on 7.0$ institional figure taking out some retail stops below this price area and for now we are going for the ATH - ALL TIME HIGH.
What do you think ? Comment below..
Russian President Vladimir Putin is demanding foreign buyers pay for Russian gas in roubles from Friday or else have their supplies cut, a move European capitals rejected and which Germany said amounted to "blackmail".
Putin's decree on Thursday leaves Europe facing the prospect of losing more than a third of its gas supply. Germany, the most...
📉 Expecting bearish price action on NATURALGAS, and we could try to short a market top on this area. We have a lot of bullish imbalances on the NATURALGAS that has to be filled into the incoming week. Also we had a big expansion move and the price should make the retracement move from there.
RSI is overbought in this area meaning the price is very...
📉 Expecting bullish price action on NATURAL GAS as price is in a clear bullish market strucutre on D1/H4 timeframe, price made a breakout above the weekly highs retraced back into the H4 imbalance testing the weekly highs and clearly reject from that area. I think we will see 6.0 ASAP.
From a market seasonality standpoint we are very bullish as naturalgas should...
XNGUSD LONG - Buy Entry - D1 Chart
Buy @ Market
Symbol: XNGUSD - Natural Gas
Entry Price: Buy @ Market
TP - Resistance @ 6.0262
TP - BE - Resistance @ 5.1223
H4 Support @ 4.6713
W1 Support @ 4.3370
PP Y1 - Pivot Point Yearly @ 4.2167
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📉 Expecting bullish price action on NATURAL GAS from a medium-long term perspective as we are in a HTF BULLISH MARKET STRUCUTRE, price kept the 4.5 psychological barrier without breaking it to the downside, we have bearish imbalances somwhere around 5.0 that should magnetize price back there, Market Seasonality is very bullish on chart as we have a BULLISH CYLCE +...
There was a big ending diagonal and the price broke out from top and there is pullback you can see in the chart. another reason is fundamental analysis, Russian war and sanctions can grow the price of NATURAL GAS.
After Bidens announcement I put in a Stop Buy Order at 4.6 to see if price action would come up once 9:30am hit - Sure enough it took less than 15 minutes.
This of course is all due to Biden, who later today is said to ban Russian imports and/or the purchase of Oil and NG from Russia. This could put a supply issue into the world which will push the price of both...
Natural Gas - Weekly
Bottom Line : "Big-picture" Bullish.
Repeating : The higher probability view is to label the Primary wave ((C)) decline as an ending diagonal to complete Cycle y . Ending diagonals are terminal structures. They are typically followed by swift reversals that retrace the entire length of the pattern. There’s not enough historical price...
Technical Analysis Summary
We have 1 Downtrend in red color
We have 1 Uptrend in green color
Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend).
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of strength of levels...