NGAS
NGAS shorting opportunity Hello everyone, we have an opportunity to short NGAS towards 2.830.
For any questions leave a comment or DM me.
Good Luck
NGAS: Keep an eye on support here$NGAS could resume the uptrend here, and might be an interesting setup if we get a bottoming pattern in the daily chart. I took a small risk aggressive long on Friday, and will monitor it to reenter if stopped, if this trade remains valid. Upside is significant, close to $5, in the long run, but it might a while to base around here firs, which would be a great thing to observe take place within the next 3 weeks.
If for some reason we are to break support, we could see rapid fall to the low volume support level outlined in green. If we do test that, that'd be a low risk long opportunity, and also a do or die situation for bulls, so, don't hesitate on going long with a tight stop if that level is retested. In this timeframe on chart, I'd like to see the bar close above support, and form a smaller range bar, and eventually break a previous bar high, before rallying again. This can take the shape of a consolidation after a rapid spike in the daily, which would be great, since it would give us further low risk long opportunities.
Cheers,
Ivan Labrie.
NGAS: LONGAll technical indicators are oversold with signs of reversal on Daily and Weekly time frames. Additionally, we touched th 200d MA and bounced off of it.
Be careful though, this might be a short lived bull run as we might fail to break 3.1 and thus create opportunity for a leg down.
Thus I will set my first target at 3.1 and wait to see if there are signs of weakness.
Natural Gas May Complete a Bearish Cypher or Bullish Bat (4H)Looking to long where indicated in the chart. In this scenario I will then watch for a short at the Cypher completion point.
If price closes below the red dashed line I will abandon longs until the completion of the Bullish Bat.
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.
NGAS is strugglingNGAS broke down the support line (black dots), but finds support at 0.382 fibonnaci and some trend line I found.
I wouldn't like it to meet the 200MA, but if it will break down from that support- it might happen.
it will rally on the following days, that's for sure
NGAS: Soon there will be a possibility for a long positionBased on Daily and Weekly technical analysis as well as fundamental I think there is a possible trade to the long side for NGAS in the upcoming weeks. I will post a more in-depth analysis when I see a window to enter the trade. For now I am keeping some cash to be ready.
Can Natural Gas challenge 4.050 or 4.450Since the first of November, NGAS has had a nice run up but now appears to be pulling back for a correction. As part of my learning Renko Charts, I've created three views of NGAS:
Daily TF: source/close | style/traditional | blksz/.050
2Hr TF: source/close | style/traditional | blksz/.025
5Min TF: source/close | style/traditional | blksz/.010
With the price above the 20, 50, and 200 EMA and with the +DI of the DMI dominant, the overall trend of this market is up. However, looking at the 2Hr and 5Min charts, it looks like there is a correction in play. Once this correction concludes, NGAS can begin it's move up to challenge the 4.050 or even the 4.450 level.
On the 2Hr chart, the charcoal box is what the 5Min chart expands out to. Some key things to note and/or watch:
5Min price has moved off the 200EMA
5Min TSI has moved below 0 along with the -DI of the DMI dominant
2Hr chart is now correcting and attention should be paid to the TSI. If it breaks below 0, then wait for it to move back above 0 along with the PSAR signaling a buy
For now, on side until price and indicators signal that up move is beginning to continue
ngas,I'll buy, in 3020,stop,2990, the first 3127 target goalThere is also a decent next bar market at the present moment to jump in short and ride this out.
I'll buy, in 3020, stop, 2990, the first 3127 target goal
NGAS long setup at confluence zone NGAS long setup at confluence zone
Bullish Wedge
Trenline support
2618 setup
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.
will natural gas rally?fundumental seems weak, charts are confusing, but i'm long on that one. Hopefully it will support my estimated rally and go up, and it better be soon because if it will tag the 200MA it will cost a lot.
NG is at risk NG breaks 3.1 level and is likely to gap down again if it could not pick up the momentum. Partially it's due the warm whether forecasting this winter. If NG lost 3.1 strong support, it might even go down to 2.9, 2.68 and 2.55 for the next step
NYMEX:NG1!
Natural Gas: Watching For Triangle or Bullish ButterflyEverything is pretty much shown in the chart. I have heard Natural Gas is hard to technically analyze but in my limited experience patterns seem to work pretty well.
---If price continues to the top trendline, I will look to see if it forms in 3 waves. If so, I will be more confident this is a triangle and will look to long around the E point (perhaps right after a break of the lower trendline)
---If price instead goes down from here I will watch the rectangle which is the completion of the potential Bullish Butterfly pattern.
---- Note : both of these scenarios can play out concurrently, which would make me feel even better for this trade!
I am always happy to receive any comments and/or feedback in my ideas. Good luck!
