Late for the 4 hour accumulation entry but our lower time-frames providing potential re-accumulation play. Aggressive entry now managing risk of the recent 1.85 level or wait for safer entry above the dashed line.
Hello Traders!
Price tested this zone many times ago on the weekly chart and specifically Aug-09; April-12; April-16 and the last test on Aug-19. Finally price broke out of the channel and we can see possibility to buy on retest of the channel if it happens or we can buy on any small correction.
Targets are on the chart.
Thank you for your likes and...
My preliminary plan.
Waiting for a complete impulse and will check the following price action.
Will do the first try to long if it draws a corrective pattern next week
Next week we'll see in which direction Natgas will continue it's movement.
All the fear about the worldwide spreading corona virus also struggled the CFD's of Natgas. If Natgas is able to hold the price above the trendline in H4 (or above the EMA 20 in the daily) we could see a bullish continuation. Pay attention to the news, cause bad facts about the virus could...
NATGAS/USD has wicked nicely after testing the 50% fib of the move up from $1.804, which is also confluent with the daily 20ma. Additionally, it has broken local resistance, which is now being tested for support. This could be the start of a trend change. It's also trading in a clear channel. Weekly indicators are screaming for a reversal! Let's see if the cycle...
natgas has surely broken a strong horizontal resistance to the upside.
I believe that the price may now retrace a bit and then the bullish tendency will proceed
with potential continuation to 2.08 level - next structure resistance.
trading against the trend, control your risk with tight stops!
good luck!
After Friday's drop I started to analyze Natural Gas with watching the fundamentals much closer. Cycles alone are simply not enough for predicting future price in this volatile commodity.
Earlier this year I posted this idea :
I still think that we printed the 3 year cycle low back in...
The US Natural Gas is now trading at a monthly low. From a technical perspective, price is now trading in the accumulation zone, MA's about to cross we expect the next push to the upside.
Price is growing with increasing volume, now retraced to the previous resistance now acting as support. Therefore we will long the commodity at the price of $1.89 per cubic...
short selling because the candle breakout old support
double top break in M30 and H1
BUT you can wait for confirmation on D1 time frame Because the price is at the bottom of the channel and maybe go up
remind that you can wait for test and short sell again !
Natgas has reached an important pivot point.
we have a perfect confluence of 618 retracement, resistance line of a falling channel and rsi swap.
I believe that the market may drop to the downside and soon we will see the retest of the current structure low.
Please, support the idea with like! Thank you!
Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Older Chart with some weekly lines lightened. Heavy resistance from TA previous trendlines/breaks/ moving averages, etc. Watching current range, if I see a nice daily close above first resistance bottom line, I'll add to position. Keeping this simple. Will elaborate the chart later.
Natural gas may be bottoming around this level. My previous post on Natural gas going down to around 1.8 was achieved. Now, I think risk vs reward is in favor toward NG going up.
