Bullish 0.5 Fib Retrace Natural Gas2.7 level support established in May. Respected on 7/19 and a quick retest today. Unless it dumps into close today, I consider this a daily reversal candle. I expect a 50% retrace of the most recent downswing for a ~5% gain in the next 1-3 weeks.
Entry: 2.731
Target: 2.863
Stop: 2.648
NAT
Swing Trade portfolio results1 GC direction L Feb 8 2018 entry price 1320 comments exit date Feb 9 2018 exit price 1315 pl -500 running total -500
2 NQ direction S Feb 8 2018 entry price 6475 comments exit date Feb 9 2018 exit price 6269 pl 4120 running total 3620
3 ES direction S Feb7 2018 entry price 2684 exit date Feb 9 2018 exit price 2566 pl 5900 running total 9520
4 ZB direction S Feb 8 2018 entry price 144.75 exit date Feb 9 2018 exit price 144.40625 pl 343.75 running total 9863.75
5 ZS direction L Feb 9 2018 entry price 982.5 comments exit date Feb 12 2018 exit price 996.75 pl 712.5 running total 10576.25
6 gc direction S Feb 9 2018 entry price 1315 comments closing, wait for new trade exit date Feb 13, 2018 exit price 1327.6 pl -1260 running total 9316.25
7 Zb direction l Feb 9 2018 entry price 144.40625 comments bad trade no signal exit date Frb 12 2018 exit price 144.21875 pl -187.5 running total 9128.75
8 6e direction l Feb 14 2018 entry price 1.24215 comments exit date Feb 15 2018 exit price 1.25105 pl 445 running total 9573.75
9 nq direction l Feb 14 2018 entry price 6610 comments exit date Feb 14 2018 exit price 6655 pl 900 running total 10473.75
10 gc direction l Feb 14 2018 entry price 1340 comments exit date exit price pl running total 10473.75
11 cl direction l Feb 14 2018 entry price 2.69 comments Calendar clm8-clz8 exit date exit price pl running total 10473.75
Natural Gas end of season reversalWhile OANDA:NATGASUSD has been bleeding since the 3rd of January, I believe that the reversal is in sight.
Quite a few people have been calling the bottom over the last two weeks, and yesterdays doji might well be, but when comparing current price movement to that of the last couple weeks, I'm not quite convinced that we've found the bottom yet especially with the way the weather is shaping up for the end of February.
If this weeks data cooperates, we might see 3.05 by weeks end, however I believe that over the next two weeks the price of OANDA:NATGASUSD will most likely drift until settling along the lower trendline drawn from last march somewhere around 2.83x before starting its way back up to test Decembers high sometime around April or May.
I'm currently sitting long @ 2.9 looking to take half my profits around 3.05x and hedging short in case my suspicion is correct. However I will be using a tight SL and at the first sign that the reverals might last I will bail on my short and enter long for the long haul.
NAT - Nordic American TankerLong term trade - in my IRA. Will dollar cost average in over the next few weeks as we see what plays out.
Good support line for NAT to reverse (2nd tag and testing). RSI and MACD cross looking similar to previous reversals. Dividend near the magic 10% point and insider buying. Need volume to come up - maybe Friday's NFP will be the catalyst.
If going straight up, may pause as passing through various moving averages. Will be hard to break through the down trend from recent highs around $14.50 to $15 if you don't want to think really long term.
If breaks below 9.94, will dollar cost average in to historic low around $7.
Nat Gas Fast Move Down Continuation Nat Gas trend has been down for two years now, and the small corrective cycle in a bearish trend has ended.
Chart had a small corrective wave (last move truncated) and I'm targeting a fast move to $1.50 for my first target with a small bounce to near $2.0 support turned resistance and a final blow to $1.05.
Nat Gas fast move lower will effect oil prices.