NGAS - Week 14 - Analysis and ThoughtsThe analysis to the down-side is working out, and price-action is confirming more down to retest lows. From a pattern perspective, breaking the lows will result in a 'regular flat' structure.
The worrying trend that I see is that volume is decreasing while the price is going lower and lower, this is not an indication of selling strength, and therefore, I will be monitoring the price closely when we retest the lows.
Natural Gas
NATURAL GAS Buy SignalPattern: Triangle on 1D.
Signal: Buy as the price has found support just above the 1D MA200 (orange trend-line) and within the 8-month Higher Lows Zone (green). The RSI also hit its own Support Zone.
Target: 3.140 (the 1.618 Fibonacci extension).
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NAS Cup & Handle13080 has been POC and support zone building for bulls toward the end of last week; and now again early this AM. The cup formation broke high and has stayed very even. 12950 is another local POC that I expect to be the bottom for a handle formation to remain intact this AM. I'm feeling hopeful for rocket at open to around 13350-13450 and support will start be built near there Mon. and Tues.
I'm not a professional, do your own DD. I'm holding 1.4k shares TQQQ around $92 avg . Not the greatest entry, but I'm in the green here and expecting more. I'll be watching closely in pre-market today to trim my position if it looks weak. Downside scenario, I wouldn't worry unless we break the 100D EMA around 12650.
NG1! : NATURAL GAS ... YOUR FATHER'S STOCK can make money 2Plenty of CALL options on SALE. or just BUY and HOLD for a few weeks.
DON'T blow your load ALL-AT-ONCE !,... GO in 30%/30%/30%, and AVERAGE you entries.
Confirm PRICE movement at each Step, and MONITOR price character carefully, and expect changes.
GAS is a choppy RIDE, not for the faint at heart.
Short-term Spring ShortNatural Gas got a nice boost from colder weather. Looks about ready to crumble in the next month or so.
I am short April(J) @ 2.81
Worst case on this is if weather defies it's tendency to flip bearish and the longer time frame trend line is targeted. But, it will take a lot to push past the highs at $3.00 (April). In which case adding another short there could work.
Bearish inverted hammer on yesterday's move signals selling is strong and this is the top of a channel.
Red box shows that upside risk and below there are a couple gaps that look promising.
Trading is risky, don't do it.
I am still long August(Q), EQT, RRC and would add on significant dips on any of those.
NATGAS will break the range? 🦐NATGAS after breaking above the weekly resistance is moving between 2 structures.
According to Plancton's strategy, if the price will break above, we can set a nice long order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
NGAS - Update 4HHighest probable move for the day as I currently see it. For now, the volume is low, and MACD trending slightly down which indicates that there's no momentum yet for that up-move. But this also indicates that market participants are building up their positions. London Open is just around the corner, which might be the catalyst for an up-move.
NATURAL GAS Potential Bullish SharkTIME FRAME: H4
HARMONIC READINGS: POTENTIAL BULLISH SHARK 88.6 RET.
INDICATORS:
CS ATR FIBO CHANNELS 3.618 CHANNEL TEST
CYCLE SNIPER H4 PRICE OUT OF DEVIATION CHANNEL
ENTRY CONFIRMATION: M15 / M30 CYCLE SNIPER BUY SIGNAL
NOTE: WEATHER FORECASTS WARMER THAN EXPECTED. ( BEARISH FOR NGAS PRICES )
GOOD LUCK!
Natural Gas (NATGASUSD): Structure Based Short Trade
hey traders,
natgas reached a strong resistance cluster last week:
2.75 - 2.8 is a strong 4H/daily horizontal supply area
on that, the price had formed a descending triangle formation and then closed below its support.
now the decline is expected.
goals for sellers:
2.515
2.345
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Natural Gas - ShortNG - On 23rd Dec 2020, NG was in super uptrend and it started its real fall from levels of 202.40 which can be seen from Moving average crossover.
Earlier also 200 was resistance and today also it failed to hold 200 levels and fallen from there.
+
Closing was below the trendline made by joining highs.
Hence, my Positional Call is sell NG @ 198.50, SL 202.40 , tgt 194 , 189