NG1! NGH2018 Natural Gas Bear
Looking back over previous few years price action we can see a sharp trend this time of year for natural gas futures.
The technical measurement Williams%R shows a strong Bear trend is either in play or is pointing to a very strong reversal.
The prior 2 days of movement NG printed a nice spike upwards followed by a strong retracement hitting new lows.
This most recent retracement down was either a move to shake out long retailers or we are beginning to see new lows for NG.
Keep bets small.
Fibonacci retracement price level provided from most recent move.
The technical measurement Williams%R shows a strong Bear trend is either in play or is pointing to a very strong reversal.
The prior 2 days of movement NG printed a nice spike upwards followed by a strong retracement hitting new lows.
This most recent retracement down was either a move to shake out long retailers or we are beginning to see new lows for NG.
Keep bets small.
Fibonacci retracement price level provided from most recent move.
Trade active
nice double top - worth a contract short with good stop in placeNote
Order cancelled
No dice, looks like ng loves LA nina!Cheers
Trade active
why I closed this long study is an interesting questionwill re-open and update if this holds below previous high of 3.66
Note
Trade closed: stop reached
1.272 reached. Well done and time to hunt long entry.
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