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Natural Gas (Henry Hub)Natural Gas (Henry Hub)Natural Gas (Henry Hub)

Natural Gas (Henry Hub)

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NGAS trade ideas

Natural Gas is Begging for a Relief RallyThe persistent decline in Natural Gas prices may find some buyers, with nearby support levels acting as a possible catalyst for a relief rally. Given the oversold conditions, the next support level may present an opportunity for a relief rally. However, it’s important to note that this does not guarantee a full reversal in the trend. If the relief rally materializes, it’s possible that we may see one final leg down, as traders take profits and stop losses are triggered. Only if the price action shows RSI divergenceon the Daily, I would watch for a reversal pattern to the upside.
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by Stoic-Trader
NATURAL GAS-Pt.2- Short term bounce?In our previous post we explained how we believe that NaturalGas is ongoing an ABC correction from 9.995's top. Actually we believe to be finishing wave iii of C of this zig zag, as showed in the chart. As explained in the previous post, we were waiting for the small red zone in chart between 2.4 and 2.5, where the algo tp of the whole move down and the level for which wave iii of C = 1.618 wave i of C, together with the target of the big head and shoulder pattern stand. Since today we wicked that zone, we opened a long position at @2.471, and we are currently holding it with stop loss on entry. Since the retail sentiment is still very extreme towards the long side and since this wave iii can still extend down, we are carefully posing our stop loss on entry. Target is 4.32. We will update below. Happy trading!
NLong
by GMR-Capital
NATURAL GAS-Pt.1- Correction about to complete?Hello traders, here is our view about natural gas. As we can see from the monthly time frame, natgas completed an impulse after breaking a big descending triangle. After reaching a top of 9.995, natgas created a head and shoulders pattern that coincided with a 535 structure to the downside, as showed in the main chart. Then, wave 3 of C seems to be completed with an ending diagonal. If the bullish macro count is in now we should go for another impulse up. Alternatively, we may get a (C) wave to complete the monthly retracement higher than 10. In the latter case to move to 9.995 would only be a (A) cycle correction of the descent from 2005 high of 16.477. In both cases, we expect a big buying opportunity coming soon in natural gas. We are not taking long positions now for wave iv of C since sentiment in retail brokers is over 90% long. When ALL the retailers are buying, who is selling to them? Who is gonna buy to actually put upward pressure on price? This is why extreme sentiment is a contrary indicator. We will update as soon as we see a long setup.
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by GMR-Capital
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Looking for good r/r in NatGasTrade Idea: Buying Natgas Reasoning: Price action posted a new low yesterday, however afternoon price action reacted higher forming a bullish hammer candle on the daily chart. The overnight pullback has stalled and reacted higher at the Ichimoku cloud base. Buying offers great risk/reward after a monster selloff. Entry Level: 2.862 Take Profit Level: 3.20 Stop Loss: 2.74 Risk/Reward: 2.7:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis, as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
OANDA:NATGASUSDLong
by Signal_Centre
Long entry set up on Natural GasWhile natural gas has sold off in dramatic fashion over the last couple of months, a swing trade presents itself with a great entry at support. Since entering an upward sloping wedge in July 2020, Natural gas has completed a 5 stage Eliot wave in typical fashion, an ABC correction and now potentially in a corrective 1 -5 Eliot wave move having lost the wedge trend. The asset is in oversold territory with the RSI falling below the 30 level on the weekly, selling volume profile at peak levels in weeks but stalling on the $2.6 level which acted as resistance in Sep, 2019 and support more recently in April, 2021. Anticipating a level 4 Elliot wave form with a technical target of $3.5 , potentially a 31% upside . Ref : CAPITALCOM:NATURALGAS
CAPITALCOM:NATURALGASLong
by dtmuturi