Everything is pretty much shown in the chart. I have heard Natural Gas is hard to technically analyze but in my limited experience patterns seem to work pretty well.
---If price continues to the top trendline, I will look to see if it forms in 3 waves. If so, I will be more confident this is a triangle and will look to long around the E point (perhaps right after a break of the lower trendline)
---If price instead goes down from here I will watch the rectangle which is the completion of the potential Bullish Butterfly pattern.
----Note: both of these scenarios can play out concurrently, which would make me feel even better for this trade!
I am always happy to receive any comments and/or feedback in my ideas. Good luck!
---If price continues to the top trendline, I will look to see if it forms in 3 waves. If so, I will be more confident this is a triangle and will look to long around the E point (perhaps right after a break of the lower trendline)
---If price instead goes down from here I will watch the rectangle which is the completion of the potential Bullish Butterfly pattern.
----Note: both of these scenarios can play out concurrently, which would make me feel even better for this trade!
I am always happy to receive any comments and/or feedback in my ideas. Good luck!
Note
Found this potential Bullish Crab hiding out within the Bullish Butterfly. I will watch 3.03 area closely
Note
The pattern is completed around 3.047. I am watching price action in this rectangle to long. The lower we can buy, the better the risk:reward. The R:R shown in the picture above would be the minimum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.