NATURAL GAS
Double Ratio on Natural Gas (NGAS)The last 50 days, we got a nice move of over 50% in Natural Gas over 50%. I just closed a covered Strangle for a nice profit and its now time to redeploy, since I think the price is going to slow down.
Price is over extended above the 20EMA and I expect a correction, so I just made one of my favorite trades. The double Ratio. I bought the 4.25 Call and sold two of the 4.45Calls and bought the 3.45 Put and sold the 3.25 Put.
This trade has a 74% chance to make money and my target is a profit of $800. Since I am using $2,100 to have the trade on, I am expecting a Return of 38% in 56 days (Not bad).
We make money as long as price stays in the green zone between the prices of 2.969 - 4.73 and since We have our Moving average above our break even in the downside we would need a pretty strong move down to get tested.
Short NATGASShort NATGAS based on warmer weather projections (builds in inventory), and bear divergence in RSI.
NATGAS - Libra Pattern ?NATGAS - Potencial Libra Pattern
This is a good chance to Long NATGASUSD
Possible scenario on the chart.
NatGas is not ready for joining the uptrend again just yetI believe that Natural Gas is in a strong corrective move upwards. It is trying to join the uptrend again. However, it has not completed its total correctional move yet and should re-visit the 2-area since it forgot to do so in its rush on the way up.
Ready for a corrective B waveNatGas is ready for a corrective B-wave. Look at the volume. It is maintaining 200 DMA. See my other idea linked in below.
Close to Intermediate bottom in NaturalGasNatural gas has retraced 50 % with a very steep drop-curve and is oversold.
The momentum indicator is flat and has turned.
This is a good place to add first long position. I will add 50 % here.
NATURAL GAS LONG OPPORTUNITY TO BUYHi guys!
This is my idea of NATGAS, being on a support area i think rebounds and you cane take long position.
Natrual Gas long Here some possible bullish trend in a larger down trend since 2010, Hold on to your longs and see if this will break out and go for 7+,9+ and 11+...
Natural Gas may be setting up for a longer term correctionWeekly ngas looks like it has transitioned into an uptrend. Its not clear if this is a major change in trend or a correction. As of now, the weekly chart from the Feb 16 low looks more like an impulse wave instead of a corrective wave. However, I'm still going to look at points of resistance as if its corrective and a retrace of the 2014-02-24 high to 2016-02-29 low. I've only started looking at ngas again recently and I believe the week of 2016-08-08 would have been ideal entry with:
ADX above 20 and a convergence of +/-DMI as price pulled back
TSI and RSI pulled back before weekly price continued up
Now, the question is if weekly price will continue up or begin to hit resistance. The first area I'm watching is 3.460 so a pullback now could be a place to enter a short term long position.
Another interesting aspect of the weekly chart is that the line (orange) put in by the -DMI of the Feb 16 low has been hit once and is now set to be broken by both the +DMI and the ADX. If this happens and holds, my interpretation will be that a major trend shift is in play and will need to set plan accordingly.
Daily chart looks strong but may be pulling back. Things I'll be watching for this week is for +/-DMI to converge along with a pullback of price into the averages and a pullback of TSI and RSI into 50-60 range.
8H/4H charts watching to see if there is a repeat pattern of a pullback including price and indicators. If this pattern occurs, may be the place to buy dec NG call.
1H looks like pullback has begun and may carry through to 8H/4H charts.
