Ng!1
trade is still long , but a chance of pushing down further!this idea explains the possible market moving direction as i believe that the trade is still long , but a chance of pushing down further! is a high probability , before continuing the long trade as wave c
after long trade now changed to short trading , EW tradingafter long trade now changed to short trading , EW trading
NaturalGas NG Bullish SetupNatural Gas or NG is forming a nice bullish setup on the daily time frame. We can see that the price has already broken the upper range and is now touched a resistance area. When looking at the Stoch indicator theres enough buying pressure left.
This info combined with the forecast EL Nino and hot summer are strong bullish fundamentals for NG
NATGASUSD Short Hello,
I think NATGASUSD is in for a bigger drop and report may be the catalyst .
Consider the scenario.
1. It consolidated in a range for a long time
2. Made a higher but was unable to hold gains
3. Second wave up after the last report failed to make a newer high
4. It closed on channel below the channel
5. Almost half the volume on the upswings and new highs
That's how I look at things. Trade accordingly. I'd wait until it hits the Declining channel then short. 3.315 would be my stop if I short at around touch of declining channel.
Will be a good risk/reward because I'd short it at touch of channel and stop at 3.315.
However, if it breaks the channel with conviction goes to set another high, this idea has failed it's validity.
Natural Gas Mini Futures Swing Trade OutlookI have NG currently in a downtrend. With expectations that it will continue dropping over the near term. Daily chart observations:
50-day moving average recently dropped below the 200-day moving average.
MACD is illustrating downward movement.
RSI is trending down
Woodies CCI still shows upward momentum, but also that the upward momentum is weakening
Stochastic has dropped below the lower boundary (20), illustrating oversold level
The Awesome Oscillator also shows upward momentum weakening
Spring/Summer weather typically brings lower nat gas prices. Over the next few months I'm looking for the price to move towards the 0.618 Fibonacci retracement level with the price around 2.516.
NATURAL GAS BUY SETUP 240NATURAL GAS is forming an ascending triangle on 4hr timeframe which is indicative of an upward breakout.
It is also on a major support level of 3.163 and has tested it twice.
Long natural gas with a take profit target of 3.472 which is the next resistance level.
Natural Gas Preparing For A Major Move Up (with image)
I'm republishing this along with an image. Fibonacci spirals on TradingView are not static which causes problems viewing the spirals correctly. Please refer to the image to understand the intended result.
UGAZ About To Explode To The Upside
Fibonacci spirals on TradingView are not static unfortunately which is why I don't publish more often. Have to post an image to ensure proper spiral placement.
Natural Gas Preparing For A Major Move UpPlease review notes on chart. Don't sell yourself short by containing yourself in a linear format. Price action follows a curve.
NG - NatGas holding above centerlineCenterline catches pretty good price-action (frequency) of this market.
The prior Hagopian way down below at the L-MLH tell us, that the market will go back more then from where it came. So, this would imply that we will see NG soon way above the centerline.
P!
Natural gas verified the double bottom neck lineNatural gas verified the neck line of the double bottom pattern(or reverse head and shoulders) at 2.865-2.885 area.
Remain neutral because of the month we are in..
Possible sellers at 2.885-2.900 area and good resistance at 2.885-3.100 area from trendline and 200MA.
Possible buyers at 2.550-2.600 area..
DGAZ going to $8DGAZ formed bullish reversal doji today, and NGJ2017 formed bearish reversal doji. Fib extension points us to $8 on DGAZ
Possible big NG explosion upwards.Three touches on each side of the wedge, perfectly touched the uptrend line, as well as a storage report coming out after market close tomorrow. Due to falling wedge and bull price action since last march i am leaning long-side here, but do your own due diligence and watch the movement after the report. If price takes off upwards i would expect quite the move here.
Watch out NG breakoutNG gonna hit 3.2 due to the cold weather in east coast US. Prior, it tested the lower point of 3.08 and bounced back.
NG NatGas: Down to the centerlineAfter the trendline breach, I expect a pullback to the breakout.
Then a further decline to the centerline and from there potentially back north.
Hunt mode on.
P!
