CFDs on Natural Gas forum
NATURALGAS how red tomorrow is gonna be?👀
NATURALGAS and then it drops more till market closes
NATGAS Finally, a breather
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NATURALGAS I opened a short right now purely based on technicals. Price moved heavily strong this week and we have at least 2 gap-up from the past 2 weeks. Based purely on the 20, 50, 200 ema across 4h, 1h and 15m we are overextended and some pullback as part of at least profit taking may occur.
I see that we are near yet another seller orderblock at the 4h chart and already the oscillators start pointing downwards at least based on the last two candles (4h).
At the 1h chart I see bearish divergence forming for volume weighted rsi and for OBV on top of that the peaks of the volumes between consecutive sessions for the same hour seem lower.
At the 15m chart these bearish divergences become more evident.
Therefore, purely based on the above technical indicators I opened a short entry.
I could have waited to see a clear rejection from the above 4h seller orderblock but this time I decided to enter aggressively.
My stop loss in this case is 1 pip above the orderblock in the 4h chart but I will monitor the price to avoid fakeouts.
There might still be some leftover upwards momentum but that point of control (yellow area) is way too low and I expect at least some retracement from the recent swing high and if this scenarios plays out, from there will trail my profits.
Let's see...
