UPDATE #2: Stop loss hit. All positions are now closed on this trade.
UPDATE #1: Trade is active now. See the chart in the comment section below for exact entry price.
Hello Traders,
It's been quite some time since I've posted any new idea, especially in Forex. That's mostly due to the situation in Greece and the uncertainty that it has caused in the...
UPDATE #3: Hello traders, finally got my trailing stop hit. All positions closed on this setup, a good trade overall.
UPDATE #2: Target #2 achieved. Majority of my positions on this setup are now closed. I only have small position left for the 3rd target with stop loss moved to 2.812 (previous LH). Just trailing the stop loss until target #3 is achieved.
...
Natural Gas could be working on putting in the right shoulder of a inverse h&s.
Above 2.71 would give added confidence to a likely retest of the noted neckline. The timing of this retest could occur within the next 2-3 weeks. Confirmation of this inverse h&s would have an implied target of ~3.7 with a completion likely this fall.
Below recent lows at 2.6 and...
This is just a simple technical chart showing the area that I'm keeping on my watchlist to potentially be on the bid for Nat Gas which is the support / demand area highlighted around the 2.500 area. This is still bearish on higher time frames, and well below the D1 200 Moving Average so do keep that in mind. Seasonally this is around the time when suppliers /...
NGAS Natural Gas Pitchfork Break Down
Natural Gas price has broken down out of its pitchfork channel from the peak of $3.1
Charting further test of support levels at 2.534, 2.471 and 2.437
I'm currently long and will be looking to reduce the average cost of my position by short selling.
Gotta play the waiting game here but leaning to the short side either at confirmation of the break of trend or back at the to of the speed line (likely tomorrow on inventories if that occurs)
I am a litlle bit late with poblishing but as you can see these is why i think market is retracing.
First there is ABCD pattern " witch normally is retraceble up to 38 % of the AD leg
Second we have divergence on stoch while the market is going up.
Third - structer is verry importent.
UPDATE
FULL target hit. Looking back for a long now.
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NGAS met heavey resistance we have a bearish divergence in RSI and MACD, looks like it is going to retrace some, before further upmovement.
The blue line looks like a level to respect in my opinion, because of the double bottom it made there and from there it went steeply up.
Waiting for Friday to close outside of blue trendline.
If so, I will open a position on Monday (shown on the chart).
Note the huge symmetrical triangle. But don't be hasty - wait for confirmation of breakout.
Long term view:
Friends,
Natural gas ($NGAS) is coming to a technical floor per Elliott Wave count as well as predictive/forecasting model.
WAVE ANALYSIS:
- ELLIOTT WAVE:
Price action in this 8-hour chart illustrates a recent down-swing consistent with an Bearish Elliott Wave impulse, whose internal construction suggests a near completion, as price appears to negotiate a...
Natural gas (03.12.2014) made high round $4.6 on unexpected cold front in November month while upcoming mild weather forecast forced trader to book profit on higher levels.
On fundamental side, mild weather in US expected to continue for coming 2 weeks & will put more pressure on prices. On other hand current inventory level of natural gas is 3432 bcf which is...
Winter months are here. The East Coast of the US is experiencing low temperature and snow. Demand for Natural Gas usually increases in the winter months.
The price of Natural Gas has been climbing since late October and will probably keep rising throughout the winter months.
I remain bullish NGAS to 5.10 which is the 61.8% Fib extension from the up move and it...
Hi Traders,
As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18.
Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher.
TARGETS
likely: 5.10-5.13
possibly: 5.37-5.38
ELLIOTT WAVES
This new uptrend is nothing more than "wave 3" of the recently started...
