Natural Gas Explosion to 2.3

Nat Gas broke the trendline , retested it , and now its back above its 50 SMA and ready to at least hit the 2.3 which is below the 200 SMA .
This is a very high probability trade , and I think its gonna happen fast .
Daily squeeze , moxie positive both on daily and the hourly , nat gas trade is on .

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in the short-term everything points to that 2.3 level (2.325 in exact),
thats the 1.618 extension , its the 200 SMA daily , so quite a bit of resistance for the short-term .
Probably we are heading there in 10-15 days and then consolidate in a small range for 10-15 days again before moving above 3 .

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From every analysis I see right now , I see the same thing , even from an Elliott wave stand point we are in the 3rd wave , so at best after we hit the 2.325 to correct to 2.150 as the best case , as a corrective 4th wave , the 5th move is usually the biggest and it will probably go to 3 and above .
I think its by far the best trade right now , everyone is talking about stocks and metals , and nat gas is totally forgotten by the media and most of the traders .
its probably the best opportunity right now out there .

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So far so good , we ride the wave .
Its still too early to take profits.
We should hit that 2.3 pretty quick .

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There is a chance that this 3rd wave might send us to the 2.618 extension which
is currently at 2.732 . I am monitoring that now , because todays move is pretty aggressive .

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Hi guys ,
it looks like the first scenario will play out .
Meaning that we go just below 2.325 which is the 200 SMA , then
we take a small break (sideways to down) , before exploding again to 2.7-2.8 and higher .
I wouldn't chase it up here , but I would wait to re-enter this trade again .
Thanks for everyone that followed this trade .
I will try to post more trades .

Kontoeidis1989

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Kontoeidis1989

What is your business plan ?