Natural gas looks to be forming a replica of itself, and if history repeats its in for a significant fall.
Looks like head and shoulder pattern on long term chart. break of 2.88 resistance area could see natural gas head to 2.5-2.6
Look forward for further NGAS downstream action.
I'm looking to short Natty Gas soon and need to see just a few more things before I'm satisfied. We formed a high-test on the monthly with May's close and that's awesome confirmation of the large weekly head and shoulder pattern. I'm now watching for a head and shoulder pattern on the daily and a pullback to the fibs for the right shoulder. That is where I'll...
Had a position in DGAZ which has done well. NG may drop more but I deciced to take profits after relooking at the chart. Here is another posible course and count as compared with previous post (link below). Take care.
So far, up +40 pips and looking for more! There is a nice "double pattern" here that also completes at a MAJOR S/R support zone. These kinds of setups are usually pretty strong indicator of a nice trading setup coming. For now, I've already issued a SELL for prices to get to that support zone and bank a few pips while getting ready for that nice trading...
The current price is 3.065 (this chart is delayed) and I have just entered.
Weekly head and shoulder pattern forming with high-test on the monthly rejecting fib retraces and 50sma. Checkout full analysis here: patstrades.com
Price is testing the sliding parallel of the upsloping pitchfork, where it seems that it's finding good support. Going long with sl and tp as shown in the chart is a nice idea..!
Price found resistnace at the sliding parallel above the median line, and dropped in an impulsive move. It's now in a correction developing a flag pattern. Use your own style on where to sell this flag pattern and try to aim for the lower parallel of the pitchfork.
I'm quite biased on NGAS by a bullish point of view. So when I see some breakup on daily timeframe I jump on the train! Normally, seeing at the 4H chart, trader should wait for pullback before entering long. But from experience, NGAS does not like to wait so if bullish trend there is, it's usually very sharp. From a technical pov, the daily chart is near perfect...
Creeping into short territory... risking all time high
Energy is very difficult to trade under present OPEC situation. Yet formation of structure is such that it tends to break down after Zigzag consolidation in form of ABC towards 61.8%. Look for bounce towards 3.2 as wave (2) advancing towards below 3$ in form of wave (3). I believe this completes the cycle by approaching $2.5 in five wave structure. Take your...
Hello, Disclaimer-I'm new to all this. This Up bar on daily had no volume compared to a previous Up bar we saw on 20 March 2017-(drawn for comparison). or 4 April 2017 I don't like to recommend anything but it's a requirement to post so , Stop loss -3.200 (if this seems too close, well it's a good placement so it'll make it clear pretty soon) Potential...
Extremely high probability opportunity to short Natural Gas.