NEW IDEA FOR NATURAL GASNatural gas can increase to the 88.6% Fibo resistance at $3.23 by crossing the 50% Fibo resistance at $3.04.
NGSUSD trade ideas
NATGAS will it continue down?Natgas is holding below the support (range), if it is able to get back, it will be able to make a retracement to 0.5 fib. Otherwise, if it is still rejected and the price closes under. Natgas will continue on 3d.
NATURUAL GAS Buy/LongAnalysis for NATURAL GAS on the daily direction has shown an upswing for a bullish trend that has respected the support levels. Since September 7th, 2023, we have seen a nice back and forth movement pattern that continues to respect the channels support range and resistance making this a prime target for us to be able to profit off on. Please enter with proper caution and capital risk management. Below is the signals inputs for the trading session. I hope you all enjoy.
NATRUAL GAS
Buy/Long
Entry: 3.2361
Stop Loss: 3.0203
Target:
TP: 3.9035
DAY TRADE/SWING TRADE
Risk: 2-5% of Capital
NATURAL GAS - Time for Retracement from Double TopNatural gas seems to be in the process of forming double top on daily TF. The volatility is high and we can clearly spot bearish divergence on RSI graph. This suggests we may see retracement up to key support zone.
🤷♂️ NatGas Update Longer Term The bullish long-term trend can choose different paths. Of course many of us on the bull side would like it to go straight up. Unfortunately I already see indications of possible diagonal in the making which would be more difficult to trade.
One of those indications is an anemic wave 2 which can turn out to be wave as indicated in black.
As we travel along the chart I will be looking for cues which scenario we are in. Stay tuned.
🟢 NatGas UpdateNatural Gas is approaching a crunch moment. Because the price has taken the previous low labelled as wave a, the scenario with a even more expanded ABC flat is off the table. A more complex WXY is still possible where current ABC is wave W but less likely than a simple flat.
Also a scenario with a longer wave C remains but I would assign it a lower probability.
Natural Gas - Daily - Update Natural Gas - Daily - Update
These are my keylevels for Natural Gas on daily time frame
NATURALGAS - Beginning Of The Break To Lower Lows?A shooting star is printing a shakeout through the 200 day MA.
The trend has been drifting for some time and so it could continue to drift, but its hit the liquidity landmark and printing a reversal candle.
If the day closes here then there could be more downside and potentially the trend change.
Also notice that it is potentially printing the Head & Shoulders pattern if further breakdown continues.
The shooting star has wicked through the left shoulder resistance also tapping the liquidity in that area.
We find very often that at major reversals that there are double or even triple significant liquidity pockets tapped and so this double tap here can be a clue that a major trend change is imminent.
As I have said I think this correction has gone on too long for this to be part of an accumulation. Much more likely there will be another wave down, hence why I am taking short positions and have added to my position here.
Its not impossible that this could yet whip up because that is what this chart does but it will likely be a fast elevator ride down if when it breaks.
Not advice
🚨 Alert! For NATGAS100 traders I LongMy analysis: short
🎯 1. Take-Profit Target: $3.143
🎯 2. Take-Profit Target: $3.276
📈 I've observed a strong level of market support with robust price rejections and extended wicks around $2.845, forming a Solid Support Line (SSL) on the 4H timeframe. 📊📈
Furthermore, there's a conspicuous fair value gap on the weekly timeframe, though I have reservations about the price's ability to generate the necessary momentum to bridge it. If we manage to breach the barriers presented by the daily and 4H timeframes to the upside, that's when I would designate this as our new bullish target. Subsequently, we might anticipate a period of consolidation, contingent upon the prevailing market conditions at that juncture. 📆📉🚀
www.tradingview.com
My strategy hinges on waiting for price action to breach the RSI trend line and undergo consolidation on both the 1H and 30M timeframes before considering a long position entry. If the price fails to exhibit strength in this vicinity, I shall refrain from executing my trade. My steadfast commitment remains to my established setup and risk management parameters. 💪📊📈💰
Feel free to review my other trading positions.
🖕 NatGas Update Until there is some form of bounce and waves 1-2 of the new trend are shaped it is risky to call the bottom.
One option could be that the ugly diagonal was extended wave 1. A recent consolidation looks like a neat barrier triangle that usually happens in waves b, x or 4. It it is 4 that means wave 5 should be shorter than wave 3. If it is b we are charting something bigger and yet unclear.
NATURAL GAS : DEEP CRABNATURAL GAS: DEEP CRAB
to Watch: EMA.50 and EMA.200
+ Fibonacci levels
+ ICHIMOKU levels
Time to buy gas?Here is a quick plan for Natural Gas. I will look more into this later.
I believe it's almost there but don't forget that you are looking at a monthly chart.
open.spotify.com
🟡 Natgas UpdateIt has not been long for gas to shape what I see as ending diagonal. The uncertainty about which scenario we are in will stay for some time.
🖕 NatGas UpdateToday the market has invalidated the previous scenario with contracting triangle and now I am looking at 3 versions of a single scenario with [a ] [b ] [c ] flat.
The chart is in category FAFO - f..ck around and find out.
🟢 Natgas UpdateNatgas has followed the Local Alternative scenario and formed a symmetrical triangle.
The triangle is running meaning there is only direction possible (on the condition that it is a triangle and not something else).
I will keep the idea in the green bucket of confidence.
Natural Gas - Keylevels - DailyNatural Gas remains in a downward trend, we are getting closer to winter, and demand will increase.
Why doesn't the price increase more?
Or...why doesn't the price increase according to your expectations?
Simple..
The story of the war has calmed down and the FUD on prices has decreased and in addition to that, the main factor is that in several countries in EUROPE, the price of gas is capped, so that regardless of demand and supply, the price on the bill remains the same .
My opinion is that if this winter we see Natural Gas between 4-6 dollars, it would be advisable to mark our profits and wait for next year.
🟢 NatGas UpdateA couple of scenarios I am tracking right now. This is not exhaustive. A more pronounced pullback is also possible where wave is already finished and we are in wave down. However, it is too early to elaborate on it.
Cup and Handel in play NATGATPlease check out this potential cup and handle on the daily.
If this plays out, expecting the move to be the depth of the cup
to the lip. Target 3.60 - 3.70. I have a wide stop at 3.02.
Let me know your thoughts
🟡 NatGas Local Alternative In addition to previously posted chart there is another alternative of the same scenario where consolidation wave is much smaller.
🟢 NatGas UpdateAfter such wild swings I have somewhat restored my confidence in the count where according to my analysis we are in the midst of correction, hence volatility and uncertainty.
Wave x is plotted in 2 scenarios - triangle and expanded flat. I would say that flat is the preferred one based on the sctructure of waves a and b that tempt me to label both of them as wxy.
In a triangle only one wave can be complex wxy or a nested triangle. Other waves must be simple abc zigzags.
XNG Natgas RecoverAs in my preliminary analysis, Natgas took 3.65 as resistance. The target should be in the area of the 0.5 retacement and I would assume that the path shown is very likely.
Gas xngusd#Gas - H4
📣 Looking at the 4-hour timeframe, if the support level at 3.405 is broken, it may indicate a potential price decline towards the 3.130 range.
⛔ Stop Loss: 3.640
Natural Gas - Big moves aheadNATGAS has been putting in consecutive higher highs for the better part of a month. This is indicative of a further move up as called over a month ago. Until this trend is broken we remain bullish and are looking to break the first resistance which should then lead us to 3.5$ very quickly.
BULLISH
