we just finished a bearish butterfly, means down from here
Today we start a downtrend with the ending of a bearish butterfly
Looks like NatGas is going to test the low level
I have been trading these larger swing over the last few weeks and have been pretty accurate. Todays reversal was a happy site. But this pattern is anything but simple. I don't think we are in a typical short term, ABC due to the pattern. And there was a bullish divergence that appears to be starting to play out. The BBands on the daily are very very tight. ...
NAtural Gas going to $2.84 before a drop
This is the monthly chart for Nat Gas. As you can see I think we are nearing the next push up to finish a large B wave. But if you look at the time frame...it could be a while until such a big move happens. Short term thought....I think we are going to be starting a 3rd subwave up soon. Hope this helps a little bit.
There is a cup and handle developing on the MONTHLY. The blue rectangle is the support in which the cup cannot break to remain valid. This ratio could, of course, break down, but statistically, it will likely rise in value over time. How could this ratio go as high as the 30s or 40s? Or even higher? A) Oil would have to go into the 100s while nat gas remains...
Too much risk to short at this point, but I'll start accumulating for a long term play at $2.17 if it gets there,- all the way down to $1.90 in 5 cent increments... Will then hold into mid January 2019 or $2.95, whichever comes first..
Interesting Adam-Eve bottom pair potential. Also, here are the levels that I'm watching. Anything could happen here, and would not be surprised to see it hit the bottom Green line or break above the resistance Red Line. Short term support at black line. Current position at Black line. Will continue to accumulate more if we come back to the black line, and...
trade # 18 ng direction l Mar 2 entry price 2.698 trade # 13 ng may l 3 call direction l Mar 2 entry price 0.025 trade # 6 ng mat s 2.5 p direction l Mar 2 entry price 0.026
Lets see how this plays out ...but....I think that grey area that I had previously talked about was squashed today. I am hoping we close above the first trend line. A close above the next one is super bullish. I think a little flag consolidation just below the next trend line would be a great sign.
Here is the Natural Gas 4 hour chart. I still think we are in a grey area and some type of confirmation should be waited upon. We could very well be in a zig zag corrective pattern. We will know in the next couple days. If it drops again into that red zone then I think I will buy UGAZ again. On a side note....if by chance UGAZ dropped below the red zone then...
Natural gas is simply killing me. I left up the possible cycles just in case for some strange reason, NG dumps into mid January. But it sure does not look like its going to dump. It appears that we have started that winter rally. If this is the real winter rally, then a brief pullback would be a great opportunity to get back in this thing. NG left a large...
I am shocked everytime this returns to this level of support. But i see nothing to support this continued weakness. Someone is playing the volatility and just buying selling the clear range.... I have a strong LONG and hoping for the best. I am now into my MAX position and looking for payoff in 1-3 weeks.
Everything mentioned in the chart Best of luck :)
Looking back over previous few years price action we can see a sharp trend this time of year for natural gas futures. The technical measurement Williams%R shows a strong Bear trend is either in play or is pointing to a very strong reversal. The prior 2 days of movement NG printed a nice spike upwards followed by a strong retracement hitting new lows. This most...