Main items we can see on the chart:
a) The price was inside a range after reaching a major Support Zone
b) Currently, the price has broken the range with a solid bullish movement
c) Now we are expecting a clear correction about 3 weeks
d) If that happens we will be ready to take long positions based on our weekly perspective
Weekly Perspective
Long and short levels shown..
Use 2 lots for entry. 1st one close @ T1, 2nd at T2....Levels consistent for the day. Take and repeat entries as and when they trigger.SL will be opposite entry..
Natural Gas just had a monster rally and I'm going to ride it back down for a short term trade.
$2.14 has historically been a sticking point so I've opened a short position here on the E-mini contract ($QGU2020).
-1 @ $2.145
Very simple but relevant analysis on natural gas (on a daily basis) that I now recommend to buy and then double the position after a big break in the R1.
Main items we can see on the chart:
a) The main idea here is to wait for the same pattern that happened on the previous 2 reversal movements and assume it will happen something similar now
b) The first item is a clear breakout of the descending structure. That, it's happening right now, this breakout will be enough to match with the previous scenarios
c) ...
Natural Gas at the daily view.
Natural gas spiked up today which shouldn't be a surprise. It's about time if I may add. Natural gas had an inverse head and shoulders pattern in the last 3 months and it would skyrocket above $1.89. And that's what happened.
Natural gas was in a volatility box for 3 months. It was building up energy for a breakout. That breakout...
Possible ABC corrective move in the form of 3-3-5 wave... C is int he making potetnial tgt 153.. extension of C can take this to 160/62...
So buy on dip is the Startegy fr NAtty in coming weeks.
