Gas Long Setup
GAS Long Setup
🔵 Entry Level: $5.673
🟢 Take Profit: $6.094
⛔ Stop Loss: $5.441
Reasons:
- So far the price is respecting the ascending channel;
- I believe the price may bounce off the lower trendline in the area between $5.535 and $5.670.
Game Plan: If the price goes through the lower trendline (yellow), which at the moment acts as a support level, then I will be looking to open a short position on a retracement unless the 2nd trendline (white) acts as another support level.
🔵 Entry Level: $5.673
🟢 Take Profit: $6.094
⛔ Stop Loss: $5.441
Reasons:
- So far the price is respecting the ascending channel;
- I believe the price may bounce off the lower trendline in the area between $5.535 and $5.670.
Game Plan: If the price goes through the lower trendline (yellow), which at the moment acts as a support level, then I will be looking to open a short position on a retracement unless the 2nd trendline (white) acts as another support level.
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