Natural Gas
Natural Gas (NATGASUSD): Time to Grow?! 💨
Natural Gas dropped to a key weekly/daily demand zone one more time.
Chances will be high to see a pullback from that.
A bullish breakout of a falling parallel channel on 1H time frame confirms the strength of bulls.
Goals: 5.6 / 5.8
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Natural Gas is looking for a pullbackNatural Gas had a huge drop, then a big bounce (3 day bar surge!). It looks like it has hit resitance again and may fall into that lower bear target area.
NG1! NEW UPDATE HELLO GUYS THIS MY IDEA 💡ABOUT NG1! is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this LONG position..
and when the price come back to this area, strong buyers will be push up the market again..
UP TREND + Resistance from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like and follow thanks
Opening (Margin): /NG January 26th 12.5/13.5 Short Call Vertical... for a 1.80 credit.
Comments: Short call vertical hedge against my short put verticals. Will look to take off the 1.8/2.8/12.5/13.5 iron condor on which I've collected a total of 3.60 ($360) as a unit at 50% max and scratch out the more at-risk 1.9/2.9 short put vertical if I get the opportunity.
Natural Gas to GrowIt seems NG has started a new impulse wave as it finished C move down in late October. The momentum in price sees a higher low, and a potential for a bullish continuation should see a test of $7.1 resistance level. Major resistance is seen at $9.7.
I see energy as the ONLY short-medium term gainer. NASDAQ has been underperforming greatly in the index range, and will probably continue to see lower demand as earnings have been disappointing, and Fed's tightening policy continues.
NATGAS JUST CROSSED VERY POWERFUL LEVELPEPPERSTONE:NATGAS
Hi!
I've been trading in last 2 months very actively NATGAS.
I have noticed there is very powerful level which we just crossed again. If 4h candle stay above then according to historical data we should have strong move up.
Apart of this we have news about cold weather hitting Europe. So let's see.
I'm long from friday and SL way above in profit but Im looking for adding more to my position.
Under the actual price is sitting volume spike where we could rebounce even we had such a big move after todays opening.
If not then I will look for entries for long. I'm not interested in short at the moment even I had most of my good profits from shorts.
Good luck!
M
This is not any financial advise, always check the market before entering any position and like it if you find it useful
NYMEX:NG1!
SKILLING:NATGAS
Natural GasHeading into the season, not an ideal set up with all the over extensions we have had in the past year with the commodities market, however might as well try to make some money off the tickers. NGG23 expire on the 23rd of Jan meaning we do not want to have the trade extend past the 23rd of Dec. or all the open interest will be sucked out. In addition we need to have a long dated contract shorting the Jan contract to hedge risk incase it goes against the trade. And do not fail to apply the proper stops 2% of the account size* or you can do 2% on the notional value of the trade but I would not recommend due to getting stopped out prematurally. With demand for natural gas increasing in the winter months and some of the supply being cut (Nordstream 2) there is a global shortage and dont think that our leaders won't share they are masked as globalists. Until they realize that kicking that can down the road until we realize we cannot server everyone in the world there will be prices to pay for the consumer but also opportunity in the commodities markets.
"Good Luck Ace"
-Kewl Kat
Natural gas 2023 outlook: Approaching a key confluence zone The recent price action in the daily natural gas price chart updated to December 5, 2022, saw prices falling rapidly and breaking below the supports of two moving averages (50dma and 200dma) and some key Fibonacci retracement levels, such as the 50% retracement of the post-Ukraine war rally to August highs.
The two moving averages earlier created a death-cross pattern on November 10, which proved bearish after a brief rally to $8.04/MMBtu.
In the summer, natural gas completed a head-and-shoulders pattern, falling below the $5.30 price support. That technical pattern was preceded by negative RSI divergence between April and June 2022, which also led in severe bearish price action to the $5.30 support level.
The double bottom in October and July, as well as the significant technical resistance between November 2021 and March 2022, signal a very critical confluence zone for natural gas.
The $5.30 critical support line is an important test for natural gas prices, which would have dropped by a recession-like 47% from their peak in August.
If the war in Ukraine persists, it is quite improbable that prices will return to the $4.3 level, where they were trading on February 24, 2022, when Russia invaded Ukraine. Bulls may therefore reappear if the $5.3 support line and $5 psychological level are tested.
On the upside, it is unlikely that the skyrocketing price levels observed in the summer of $9.5 or more will be retested anytime soon, as they coincide to an unprecedented supply issue in Europe that triggered an increase in US domestic prices due to increased LNG exports.
In the first quarter of 2023, a sideways market trend with prices ranging from $5 to $8 appears to be the most likely scenario for US natural gas. The colder the winter. The more severe the winter in the Northern Hemisphere, the greater the possibility that prices will trade between $6.5-8 range. Rising recession risks and warmer-than-average temperatures, on the other hand, could prevent a depletion in gas reserves, keeping prices under pressure.
NATURAL GAS Critical test for bullish or bearish DecemberNatural Gas (NG1!) hit yesterday the Lower Highs trend-line of the August 22 top and today we see the first signs of a rejection. Until this breaks decisively, we can expect NG to pull-back to the 0.382 and 0.236 Fibonacci levels.
Based on the 1W RSI though, which is on a Falling Wedge since the October 01 2021 High, there is still some room to rally, and if yesterday's Lower High is anything like the February 02 2022 Lower High, then after this pull-back we can expect a rebound back to the 0.786 and 1.0 Fibs even a new Higher High. In that case we will be buying every closing above each Fib.
A complete bearish reversal scenario will take place if the price makes a weekly close below the 1W MA100 (red trend-line), which is where NG rebounded on October 24.
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🔥 Natural gas (NG): resumption of the long-term bull trend.●● Preferred count
● Natural Gas Cash ( NG .C), 🕐TF: 20D
Fig.1
I worked out in detail the counting of long-term waves on the historical chart 1930-2022 .
The chart has a number of notes. The structure of wave (IV) in the future may become more complicated to a triangle. The ending diagonal (V) is also questionable — the development of momentum I-II-III-IV-V is possible.
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● Natural Gas (CURRENCYCOM), 🕐TF: 1W
Fig.2
Variant of counting of wave structure V of (III) in the form of an expanding diagonal and subsequent (IV) , which, apparently, took the form of a double zigzag with a triangle in x .
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● CFDs on Natural Gas (OANDA), 🕐TF: 1D
Fig.3
The July 2021 forecast has been implemented. As expected, correction ② (wave Ⓑ in the current version of the counting) took the form of an expanded flat, returning to the area of the previous fourth wave .
A long-term bullish trend is expected to resume.
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● CFDs on Natural Gas (OANDA), 🕐TF: 8h
Fig.4
A good signal for opening a long position will be formed by waves 1 and 2 with consolidation above the moving average with a period of 610 .
📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
NATGAS Looks Bullish! Buy!
Hello,Traders!
NATGAS was trading below
A key horizontal level but now
We are seeing a bullish breakout
So I am bullish biased locally
And I think that after the retest
We will see more growth
Buy!
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