NATURAL GASS REPEATING STRUCTURE
Updated
I have previously posted an update on natural gas plus a long on going trade which already gave us a lot of profit from target 1.
I have also notice the importance of 3,5$ per MMBtu for extra push to the upside read the articles below.
TECHNICALLY
WE CAN SEE THE HEAD AND SHOULDERS PATTERN,THE FIBONACCI LEVELS,THE ASCENDING CHANNEL,THE BIG TRIANGLE ABC.
WE ALSO SEE THE SMALLER DESCENDING TRIANGLES EDF AND E'D'F'.
AS PREVIOUS WE COPY THE ED SIDE AND WE SET IT AS A TARGET WE CAN SEE THAT THE FIRST TRIANGLE BROKE SUCCESSFULLY AND PRICE REACHED THE PRICE TARGET 3,380$ PER MMBTU WHICH IS THE MEASURED MOVE FROM E TO D OF EDF TRIANLE.
IF WE DO THE SAME WITH E'D'F' TRIANGLE AND TAKE E'D' TO PROJECT THE TARGETS WITH THE BLUE LINE WE CAN SEE THAT IT REACHES 3,5$ THE IMPORTANT LEVEL MENTIONED.
RSI HEADING INTO OVERSOLD ZONE TO TAKE THE POWER TO BREAK THAT TRIANLGE FOR SUMMER RALLY.
ATR CLOSE TO IT'S LOWEST LEVELS MAYBE PREPARING FOR EXTENSION SOON.
WE CAN TAKE THE TRADE MENTION OR MORE LONGTERM VIEW WE CAN TAKE THIS TRADE WHICH I WILL UPDATE ACCORDING TO THE PRICE ACTION.
POSSIBLE TRADE WITH 2 P/L RATIO
FIRST TARGET T1 AT 3,380$ PER MMBTU
SECOND TARGET AT 3,5$ PER MMBTU
WIDER STOP LOSS AT THIS ONE BECAUSE OF MORE A LONG-TERM VIEW AT 3,050$ PER MMBTU
THANK YOU FOR SUPPORT
HAPPY TRADING
I have also notice the importance of 3,5$ per MMBtu for extra push to the upside read the articles below.
TECHNICALLY
WE CAN SEE THE HEAD AND SHOULDERS PATTERN,THE FIBONACCI LEVELS,THE ASCENDING CHANNEL,THE BIG TRIANGLE ABC.
WE ALSO SEE THE SMALLER DESCENDING TRIANGLES EDF AND E'D'F'.
AS PREVIOUS WE COPY THE ED SIDE AND WE SET IT AS A TARGET WE CAN SEE THAT THE FIRST TRIANGLE BROKE SUCCESSFULLY AND PRICE REACHED THE PRICE TARGET 3,380$ PER MMBTU WHICH IS THE MEASURED MOVE FROM E TO D OF EDF TRIANLE.
IF WE DO THE SAME WITH E'D'F' TRIANGLE AND TAKE E'D' TO PROJECT THE TARGETS WITH THE BLUE LINE WE CAN SEE THAT IT REACHES 3,5$ THE IMPORTANT LEVEL MENTIONED.
RSI HEADING INTO OVERSOLD ZONE TO TAKE THE POWER TO BREAK THAT TRIANLGE FOR SUMMER RALLY.
ATR CLOSE TO IT'S LOWEST LEVELS MAYBE PREPARING FOR EXTENSION SOON.
WE CAN TAKE THE TRADE MENTION OR MORE LONGTERM VIEW WE CAN TAKE THIS TRADE WHICH I WILL UPDATE ACCORDING TO THE PRICE ACTION.
POSSIBLE TRADE WITH 2 P/L RATIO
FIRST TARGET T1 AT 3,380$ PER MMBTU
SECOND TARGET AT 3,5$ PER MMBTU
WIDER STOP LOSS AT THIS ONE BECAUSE OF MORE A LONG-TERM VIEW AT 3,050$ PER MMBTU
THANK YOU FOR SUPPORT
HAPPY TRADING
Trade active
Note
Price test the ascending line trade still valid.Trade closed: stop reached
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