Natural Gas ReversalLarge volume and a wick after an extended down move in Natgas. Also forward curve is bullish relative to spot price. Don't buy UNG because of the roll decay, buy the spread NGH2018-NGJ2018.
NGAS
Head and shoulders pattern forming in natural gasCritical support at 2.53 region, break below would see further down side for NG.
2 trading scenarios:
1) Anticipate a sell-off with a half sized short position now with stops at 3.5 and load the remaining half after the break below 2.53.
2) wait for clear confirmation to break below 2.53 and short on pull back.
NGAS - D - LONG - TDIOn daily NGAS is asking to be bought. It could be a trap like it has done before, but this time Daily TF suggest that it should continue to go up.
Entry : 3097
SL : 2909
TP1 : 3248
TP2 : 3411
TP3 : Sky is the limit
GL HF
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
Will we see Natural Gas upside momentum?It is struggling with the 300MA but finds support at the trend line, the fundamentals supports the upside momentum as the site "Celsius Energy" estimates Ngas to be undervalued by 8%.
Nat Gas forming a clone?Natural gas looks to be forming a replica of itself, and if history repeats its in for a significant fall.
SHORT NGASLooks like head and shoulder pattern on long term chart. break of 2.88 resistance area could see natural gas head to 2.5-2.6
Long DGAZ based on RSI div and the wedge brekout. Fire NGAS!Look forward for further NGAS downstream action.
NGAS Short Entry PlanI'm looking to short Natty Gas soon and need to see just a few more things before I'm satisfied.
We formed a high-test on the monthly with May's close and that's awesome confirmation of the large weekly head and shoulder pattern. I'm now watching for a head and shoulder pattern on the daily and a pullback to the fibs for the right shoulder. That is where I'll look to enter.
The dirty deets:
Watching for a bounce off of the 200ema between now and friday to send price back up to the fibs and right shoulder area.
I'm looking to enter in that area (drew ideal position setup) with around a 5:1 reward:risk ratio to Target #1.
Target #1 sits at the key weekly November '16 low with Target #2 way down at the major March 16' low. It won't take too much effort to get to the first target, but the second target is going to take a bit more oomph. Just need to wait and see what price action develops once we reach that area to determine the probability of hitting that second target.
For more in depth analysis and my price action based theory behind the trade checkout: patstrades.com
Closed my short on natural gas. Had a position in DGAZ which has done well. NG may drop more but I deciced to take profits after relooking at the chart. Here is another posible course and count as compared with previous post (link below). Take care.
Quick Take: NGAS - Nice "Double Pattern" Points To A Good Trade So far, up +40 pips and looking for more!
There is a nice "double pattern" here that also completes at a MAJOR S/R support zone. These kinds of setups are usually pretty strong indicator of a nice trading setup coming. For now, I've already issued a SELL for prices to get to that support zone and bank a few pips while getting ready for that nice trading opportunity that is coming. Want to be updated and alerted when this trading opportunity appears? PM me.
Natural Gas: Completed Cypher and 2x AB=CD in Oversold TerritoryThe current price is 3.065 (this chart is delayed) and I have just entered.
Natural Gas High?Weekly head and shoulder pattern forming with high-test on the monthly rejecting fib retraces and 50sma.
Checkout full analysis here: patstrades.com
NGAS: Buy Setyp at Key SupportPrice is testing the sliding parallel of the upsloping pitchfork, where it seems that it's finding good support. Going long with sl and tp as shown in the chart is a nice idea..!
Natural Gas: Sell Opportunity at Key Resistance Price found resistnace at the sliding parallel above the median line, and dropped in an impulsive move. It's now in a correction developing a flag pattern. Use your own style on where to sell this flag pattern and try to aim for the lower parallel of the pitchfork.
NGAS - D - LONGI'm quite biased on NGAS by a bullish point of view.
So when I see some breakup on daily timeframe I jump on the train!
Normally, seeing at the 4H chart, trader should wait for pullback before entering long. But from experience, NGAS does not like to wait so if bullish trend there is, it's usually very sharp.
From a technical pov, the daily chart is near perfect :
- TDI broken
- PAC broken
- RSI>50
- Weekly chart is bullish
NGAS : Short Setup towards $2.50 and belowEnergy is very difficult to trade under present OPEC situation.
Yet formation of structure is such that it tends to break down after Zigzag consolidation in form of ABC towards 61.8%.
Look for bounce towards 3.2 as wave (2) advancing towards below 3$ in form of wave (3). I believe this completes the cycle by approaching $2.5 in five wave structure.
Take your entry wisely with perfect money management.
energy trades and OPEC can burn your accounts.
Trade your own plan
Happy Trading
