NGAS Short
Updated
NGAS has been in a long term downtrend. With this bias to the short side, considering a
price reversal to test the nearest Supply Zone , confluent to the 200hr MAV and
Fibonacci 618 retracement.
Recently we have seen a Rally ( setting up a Fresh Demand Zone) , Base ( Bearish Flag) ,
Drop , and now we have a Base ( Bearish Flag).
The trade considers a short to target the Prior Swing Low , and break the Demand Zone.
Enter - 2.094 - 2.104
Stop - Above Swing High 2.15
Target - Prior Swing Low 1.9865
RR = 2.7
price reversal to test the nearest Supply Zone , confluent to the 200hr MAV and
Fibonacci 618 retracement.
Recently we have seen a Rally ( setting up a Fresh Demand Zone) , Base ( Bearish Flag) ,
Drop , and now we have a Base ( Bearish Flag).
The trade considers a short to target the Prior Swing Low , and break the Demand Zone.
Enter - 2.094 - 2.104
Stop - Above Swing High 2.15
Target - Prior Swing Low 1.9865
RR = 2.7
Note
Target reached, supply and demand confirmed.
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