TAKE PROFIT FROM NATURAL GAS SHORT-TERM RALLY OF THE TRENDLINE
Updated
As i stated on my previous article published on 16th of May i was expected after the 'fake breakout' of the natural gas a retrace to test the ascending trendline at 3,150-3.100$ level because of the reasons both technical and fundamentals mentioned(article attached below).
Now for the same reasons we can profit from a short-term ascending rally as i show to my chart.
It looks like a good oppurtinity to go long as we have trend line well respected.
As we can see we have the sensitive stochastic near the oversold levels that can give us some fuel for another mini-rally.
Also RSI strategy very well historically behaved on natural gas give us some bullish signs for a short term rally.
POSSIBLE TRADE:
LONG AT FIRST TARGET T1 3,300$ PER MMBTU STRONG RESISTANCE
SECOND TARGET T2 AT 3,400$ PER MMBTU STRONG RESISTANCE AND 61,8% FIB RETRACEMENT
STOP LOSS AT 3,050-3,080$ PER MMBTU AT EMA100 AND 38,2% FIB RETRACEMENT
THANK YOU FOR SUPPORT
HAPPY TRADING GUYS!
Now for the same reasons we can profit from a short-term ascending rally as i show to my chart.
It looks like a good oppurtinity to go long as we have trend line well respected.
As we can see we have the sensitive stochastic near the oversold levels that can give us some fuel for another mini-rally.
Also RSI strategy very well historically behaved on natural gas give us some bullish signs for a short term rally.
POSSIBLE TRADE:
LONG AT FIRST TARGET T1 3,300$ PER MMBTU STRONG RESISTANCE
SECOND TARGET T2 AT 3,400$ PER MMBTU STRONG RESISTANCE AND 61,8% FIB RETRACEMENT
STOP LOSS AT 3,050-3,080$ PER MMBTU AT EMA100 AND 38,2% FIB RETRACEMENT
THANK YOU FOR SUPPORT
HAPPY TRADING GUYS!
Trade active
Note
We will have a change in mid-trend when price pass and vaidates the 61,8% Fibonacci retracement levels 3,400-3,500$ per MMBtu from bearish to bullish for further upside continuation.Note
Nice price action so on...Trade closed: target reached
FIRST TARGET REACHED AND WE CONTINUE.Note
Closing price exactly at the first target..Nice..
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