$CHK Bearish Wolfe WaveHello Traders,
Similar to my CL1! and USOIL charts I posted yesterday. Chesapeake Energy formed a very similar structure. I would be interested to see how well these 3 charts correlate with one another. The charts I am referring to are found below.
Best,
Chartistry
NGAS
Natural Gas - Update - 4hr TimeframeFollowing a 2 legged correction from our previously achieved target, we're looking for trend continuation and a measured move higher.
A few things suggest a move higher:
1. Positive divergence on RSI
2. An oversold (5,3,3) Stochastic that is lower than the previous pullback
3. Two legged correction to the 0.5 - 0.618 Fib retracement zone (have not closed below the 0.5 yet)
Couple things to be cognizant of:
1. Double rejection at long term falling trend line (although candles did close above)
2. EMA 20 and EMA 50 have converged, starting to cross
Trading plan:
1. Buy the breakout followed by a second bullish confirmation candle at the various risk levels (Aggressive, Moderate, Conservative)
2. Trail stop loss below major lows
3. Measured move target between 2.065 and 2.10
UNGNatty's bullish close above resistance offers traders well defined risk. It looks like a reasonable 1:10 risk/reward entry here with a lower volume area. The ceiling with the "value area" appears to leave plenty of room to allow prices to continue into resistance. Volume looks good; however, cumulative buying looks weak. If it remains so prices will likely retreat. Trade with a plan and take profits into resistance. Never like holding the "widow maker" long.
Good luck!
Natural Gas Ascending TriangleNatural Gas Ascending Triangle. Buy at triangle trend line or wait for breakout.
ngas High probability for flat is expanded to 2.800ngas High probability for flat is expanded to 2.800
Nat Gas - Where is support?We have tanked past 2001 lows
Looking to see if lows from 1998 and 1999 provide any kind of support to buy off
NGAS Breakout.. Buy Setup!Natural Gas has given a breakout from what looks like an Ending Diagonal. One can Buy NGAS now with stoploss just below the low and targets around 1.95 / 2.15
Happy Trading!!
Siraj Hudda, CFTe
Web: www.prowaveanalysis.com
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NGASBUYAnother long on this commodity, we took first TP on our last long, then broke even. We have good reason to buy this commodity again this week.
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#NGAS- UPDATE- SHORTS INTO THE BOTTOM OF THE RANGE TO MEAN #GASTraders,
UPDATE: We've had a great downside move since I posted recently. Had a very nice bearish move, and still holding confidently.
An update on my previous NGAS idea. Well to anyone in my signals group who caught this one, we made some great money, hit our target and did great. Was a fantastic trade.
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Thanks for your support,
Tom
NGAS SELLNew sell, in context of our buy from yesterday, price rejected top price at 1.836, risky sell, we may get a bounce at B.
NGAS; catching wave 3it seems that wave 2 has been finished.
trying to catch wave 3.
note the divergence
very good risk to reward ratio.
2 units entries:
first target is 50% of previous wave and second can be normal targets of wave 3 but at least end of wave 1.
test of broken trendline.
NGAS buy opportunityzigzag ends at the previous trendline.
there is a good opportunity to buy for another impulse.
