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Natural Gas

ridethepig | NatGas Finding a Floor📍 Natural Gas The proud floor - such is the name sometimes given to support - is a useful weapon in the hand of buyers. And yet for a time, I toyed with the idea - a seasonality one, I must admit. We cannot simply dismiss the deep examination; namely the elements and the strategies involved in trapping our opponent. For example, the fake breakdown and slingshot restraint. I have decided that the advantage is with buyers and can be seen in the elements: Buyers are coming in and preventing the loss of 2.5 and slowing down the said decline. The reason is clear, demand is ticking up and cancelling out the artificial dollar devaluation. We will use the fake breakdown as our invalidation level, as long as we are ticking above 2.38x we can continue to work longs. It is scarcely possible to set down on paper all the various maps in which the end game of a cycle can be unpleasant. But I will try to mention briefly all of the most important ones. A round of chart updates will continue over the coming sessions and days. Thanks as usual for keeping the feedback coming 👍 or 👎
NLong
by ridethepig
11
ridethepig | Natural Gas Breaking Out!A nice swing cooking right on time for December seasonality flows to kick in. This leg higher threatens the sacrifice of resistance and creates freedom to manoeuvre towards $4 and $5 in 2021. We have a similar sized move cooking in energy to the leg we traded in Oil, only this time round the swing we are tracking is to the topside. See for example the following breakdown we traded in Oil; In the ST, play with the flow and continue ride the leg higher towards something like +/- 3.5 and 4.0 as the extension. Sellers are quite paralysed. For the MT and LT as we know, the philosophy of transition towards a 'Green new Deal' or 'Build back better' in such a short period of time constitutes a pipe dream. Already power grids are coughing badly with so much activity from lockdowns and more people at home, the theory that we will all be driving electric cars and etc looks quite far... one cannot rebuild energy without great difficulties is important to understand. Thanks as usual for keeping the feedback coming 👍 or 👎
NLong
by ridethepig
1
NaturalGas playing as predictedLast Friday i published an idea of LONG on NG, after complete correction - accumulation zone, it´s playing out perfectly. What i am waiting for now is only flag on 4h timeframe after that i will take the Long on breakout of that flag. Fundamentals are same as last week. QE, low interest rates, expansive fiscal and monetary policy that could lead to inflation in the long-term. Targets are 4,9 then 6,45. Enjoy. The idea is only my view of market and im not encouraging anyone to take that trade.
NYMEX:NG1!Long
by TradingPeak
1
Holiday GasNatural Gas continues to show a build up of bullish price action. Linked below is a previous analysis on the winter contracts showing the target hit DEAD on. Being that winter is not here yet, it's very possible this pattern continues to play out to the upside. First. The most recent weather outlook now points to December being the coldest month which means the January contract is in focus. On the daily chart the price action continues to knock on the ceiling of resistance with several key indicators all flashing bullish signals. 1. Support at the 50 EMA 2. RSI breakout 3. MACD above zero with room to run Targets. The fibbonaci extensions map out objective targets. A big enough cold blast could easily send prices to the $4.20 level by Christmas. Which happens to line up almost perfectly with a macro fibonacci retracement from the 2018 highs to the 2020 lows. Are you bullish yet? Taking a step back looking at the weekly chart it looks even more bullish bouncing off both EMAs. My buy signal will be a break above the top of this weekly candle at 3.435 with a stop below last weeks candle. Trading is risky and should not be attempted by anyone.
FX:NGASLong
by ryan-snk
Spooky GasTime to start looking for another spooky Halloween trade as the latter half of October brings in cold temps. Prices are now sitting near historically supportive levels and bullishly above the 200 week EMA, with the 50 curling up. A closer look at the 4hr chart shows prices are coiling up with the RSI in buying territory. Buying here. Targets 2.8 to 3.08 Longer term we can also see the Winter contracts are consolidating at the 50% retracement and the next targets would be the 61.8% and possibly the 78% level. Remember, December has been a "warmer than normal" month the last couple years so if this repeats there should be a nice pullback to take advantage of next month.
FX:NGASLong
by ryan-snk