Natual Gas - Low Risk Range Play
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.
Note
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.Note
Safe profit taking level to consider: 1.743Aggressive: 1.600
Trade closed manually
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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.