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Sharp corrective more probable?Dear Friends, I hope this message finds you well and that you're having a great start to the week. I wish you success in your business endeavors. As someone interested in the Elliott Wave principle, I find it a valuable tool for analyzing the market. I have developed my approach by combining this principle with my personal experience and by considering various scenarios that are likely to occur in the market. I am sharing my analysis with you, but please note that I am not providing any buy or sell signals. I aim to share my unbiased analysis with you so that you can use it as a guide to make informed decisions. The first analysis is Litecoin In the attachment, you will find my previous analysis of the same market, so you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand (although having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily). I have been studying the Elliott Wave principle for almost three years now. With time, my understanding of this knowledge and experience has increased. What I have achieved so far is a legacy of a genius named Ralph Nelson Elliott, and I am truly satisfied with my progress. May his soul rest in peace and his memory be cherished. Thank you for your support so far. I am grateful and will always remember your kindness. Please feel free to share your thoughts and feedback with me. I hope my analysis will be useful to you in your business journey, and I wish you all the best. Sincerely,
SKILLING:NATGASLong
by mehdi47abbasi79
6
Natgas Down ChannelThe price recently broke upward from a downtrending channel. However, considering the strong bearish momentum on a higher timeframe, my current bias leans towards a bearish outlook. To assess the strength of the channel breakout, I've applied Fibonacci retracement, with particular attention on the 0.618 retracement level. Any potential shift in my bias will be contingent on the price's behavior around this level. I rely on reading candlestick patterns within significant areas to gain clarity and make informed trading decisions.
PEPPERSTONE:NATGASShort
by ForexCollege
NatGas UpdateNatGas has finally reached what appears to be a local bottom. As shown on the chart, single abc zigzags can form a triangle, but abc can also start an abc flat. Considering the depth of the retracement, this unlikely to mark the end of the correction. We'll be monitoring for more cues. If the price rises shaping abc zigzag, the triangle will become more likely. If the increase is in complicated wxy, we are most likely in wave B of (a)(b)(c) flat (green). If the price continues to decline, we will pull the brakes and reassess.
OANDA:NATGASUSD
by Fomenka
4
Natural Gas Prices Recover from 3.5-year LowsNatural Gas Prices Recover from 3.5-year Lows As the chart shows, the price of XNG fell below 2.040 on January 31 for the first time since August 2020. This was facilitated by: → seasonal trend, because towards the end of winter the price of natural gas tends to fall; → weather data. Temperatures could remain above average and snowfall amounts will decrease across North America, according to the U.S. Climate Prediction Center and AccuWeather. However, the chart shows signs of increased demand: → the RSI indicator forms divergence; → the bears were unable to reach the lower boundary (shown on the chart) of the downward channel. Signs of increased demand could come from short covering after the XNG price fell by more than 25% this year, as well as sentiment ahead of the release of news on gas reserves (today at 18:30 GMT+3). It is possible that the news release will provoke even greater demand activity, and the XNG price will reach the median line of the shown channel. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XNGUSD
by FXOpen
2
Natural Gas - Live market update Natural Gas making support at 1-30-24 1:21 AM. Other candles for today are 1-30-24 5:47 AM 1-30-24 10:13 AM 1-30-24 2:39 PM (Pivotal) 1-30-24 7:05 PM 1-30-24 11:31 PM 1-31-24 3:57 AM Levels: Sell Below and levels 2.05 1.40 0.87 0.46 0.19 Buy above and levels 2.23 2.42 2.83 3.73 4.76 5.91 (Long term) Disclaimer: I am not a Registered Analyst with any of the National/International Agency. Please consult your financial advisor before making any decision. This is only for educational purposes.
CAPITALCOM:NATURALGAS
by rekhi567
NATGAS ContraContrarian scenario where this actually deserves or gets a little bit more of a push above, unless we are in just another correction formation. For the long setup to hold and to be considered, a bounce from a curve needs to happen with a precise candlestick setup right at one of the curves, for example where the green circle is, bouncing from the white curve and continuing on the green path towards the red. All curves are potential support and resistance formations, projected in time, but the price might just hold on to them in magnet mode creating a wave along one of them. I have been playing around with this concept, with forward testing instead of back-testing, so it will be interesting to see how this project unfolds. (/anyone interested in those experiments can check the tube or X). If the bullish sentiment does not hold, and the curves are broken below, a shorting opportunity might appear, with a bounce on the flip from any of the curves, example highlighted in the scenario with the purple path.
CAPITALCOM:NATURALGASLong
by nen
4