NGAS - TIME FOR RETRACEMENTNgas is currently trading at the Demand zone intersected by trendline as well in addition to the Fibo 786 retracement. Its time for Nat Gas to bounce shortly
NATURALGAS trade ideas
The Two qualified demand zone are flickering us!Set Two pending limit order and don't forget to do Risk_free and then Trailing_stop!
Also you can use Stoploss free orders to do grid money management technique.
Lucky!
NATGAS chart overviewThe price of natural gas fell to a one-and-a-half-year low of $3.20 on Friday. The last time we were at that place was in June 2021. During the Asian trading session, the gas price formed a bottom at that point and began slightly recovering to $3.37, the current level. We need a positive consolidation and a break above the $3.40 level for a bullish option. Then it is necessary to maintain up there so that with a new bullish impulse, we can start the continuation of the resistance of the price. Potential higher targets are the $3.60 and $3.80 levels. For a bearish option, we need a negative consolidation and a new test of support at the $3.20 level. A break below would increase bearish pressure, which could see the price decline and test the $3.00 support level.
Natural Gas: Long-term viewGreetings!
Was keeping an eye on NATGAS and I saw the price forming an ending structure inside a channel. The price is in a big downtrend for a while now, but I am expecting the price to give us some green signs soon.
We may drop a bit more towards an important Daily demand area which will also act as a stop hunt move from the big boys. In this regard, I will be focusing on the buys instead of sells.
I am expecting the price to reach that area and then reverse. If we start going up and we get a breakout followed by a pullback, I am anticipating a high chance of moving up, at least for a correction in the bigger scale.
My first area to watch if we start going up is the first 4H supply zone highlighted on the chart.
Trade safe.
Nat Gas - buyImpulse - perfect zigzag:
- clear corrective channel
- price rejected from the channel border + fibo retracement 62%
Base channel forming, price stumbles on its median.
Watch for the key level breakout.
Trade safe
NATGAS - 4HAfter breaking the $4 support area, natural gas fell to 3.35. It is also in a downward trend line, which can rise to the 4.48 area if this trend line is broken.
XNGUSD ready to reverse recent downtrend LONGXNGUSD has been on a long downtrend. On the 1 H Chart,
a falling wedge is seen awaiting a breakout. Moving Average slopes are
decreasing their negativity towards zero. ATR / Volatility is decreasing
as is the downtrend momentum on the average directional index indicator.
I see this as a long swing trade setting up for forex or alternatively
a natural gas ETF like UNL / UNG or a natural gas stock like LNG. This
trade would be propelled by the dollar losing strength, inflation being
sustained, WW III in Europe continuing and the weather turning cooler the
remainder of the winter.
Natural Gas - Jan 19thHeavy volume coming in - looking very squeezed TBH but currently just spectating - do not favor one way over the other enough at the moment..
$NGAS Expecting a bounce of the 1.272 ext 2 day daily tf shown, Tp 1 stop is even @382, (take half) , Tp 2 is @ 618, (take half of balance) Tp 3 is optional. Traditional stop per pattern is below 1.414 extension (Butterfly) I will be doing a video tutorial on harmonics and sharing some set ups to watch out for. Stay tuned please:)
Long Natural Gas based on temperature decrease in USFundamental:
15.01.23
Weather reports point to the possibility of a further drop in gas prices amid forecasts indicating the likelihood of unusually mild temperatures in the United States through mid-January, Gelber's note said.
16.01.23
After consecutive weekly declines at the start of the new year, natural gas futures rebounded on Tuesday amid expectations of more cold spells later this month.
The spot price fell about 27.6 cents on Friday after several days of unusually warm weather to start 2023. Production also proved strong and stood at around 101 billion cubic feet per day. It remained near record levels of around 102 billion cubic feet per day.
However, natural gas prices are more than 50% lower than they were just a month ago, and for futures contracts to maintain an upward trajectory, cold air needs to arrive soon and other February predictions may need to be made.
The U.S. National Oceanic and Atmospheric Administration's eight-to-14-day forecast calls for below-average temperatures in the western, midwestern and southwestern parts of the lower 48 states.
18.01.23
US gas prices are rising today (knowing that volumes are limited due to MLK Day), while European prices are falling sharply. There are new weather forecasts for the last week of January in the United States. Temperatures are expected to drop significantly across most of the United States, to below average levels. It turns out that February could bring more volatility for natural gas. Seasonality indicates two local troughs (cold winds) - January 21 and February 4.
"Looking ahead, it's not out of the question that NYMEX gas futures will return to $5 mmBtu or higher, but it will take a lot of arctic air to dominate the nation for several weeks," adds Gelber's note. "Conversely, if the weather forecast models revert to a longer spell of warmth, this would set the stage for new lows for NYMEX gas futures."
Technical:
- RSI over 30.0 + Standard deviation increasing (high volatility)
- High volume at $3.54
- Support reached
Natural Gas Chart looking interestingIt is safe to say that NG has been bleed out recently, and is looking very oversold. I am watching closely here for a long position. Momentum looks like it may shift bullish soon.
Nat gas - buy ideaI expect a corrective setback, price has charted a nice ending diagonal.
Note: a clear SL - below 3,1
As the fifth wave in the ending diagonal (converging) shall not be larger, than wave 3.
Given the size of the down move overall, this risk looks small compared to the upside potential.
Also, trading reversals is risky, therefore I usually scale in gradually.
Trade safe.
NATGAS (XNGUSD) ALL NEAR Support and Resistence AreasNatural gas (XNGUSD) is currently trading near key support and resistance levels. The near-term support and resistance levels are important to watch, as they can provide insight into the direction of the commodity’s price.
15M Chart:
