Natual Gas - Low Risk Range Play
Updated
Natural gas has extended up to the longer term trend-line creating an opportunity for a short position with a relatively low stop-loss.
Stop-loss above the upper band, take profit near the bottom of the band.
Added note: this is also technically a wedge breakout to the upside in the shorter scheme of things, however with R:R being astronomically favorable a good opportunity.
Stop-loss above the upper band, take profit near the bottom of the band.
Added note: this is also technically a wedge breakout to the upside in the shorter scheme of things, however with R:R being astronomically favorable a good opportunity.
Comment
Natural gas seems to be in a free-fall after rejection of the upper band - targeting lower band around 1.60x. If we see downside power, I will continue to hold and provide updates on target levels.Comment
Safe profit taking level to consider: 1.743Aggressive: 1.600
Trade closed manually
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