Short

NATGAS - Time for a pullback?

Updated

There is a high possibility we are going down on the GAS

Technicals

1. We closed on a doji on the weekly
2. We have been pumping strong lately, and the charts are screaming for a pullback
3. We came to a key .618 FIB retracement level
4. I see a zone here which can act as a major resistance.

Trade

Looking for a position for a sell this week!.

Great trading all of you
& remember to always trade with caution and a plan :-)

Greetingz,

Simba Trades

Note

As expected price is coming towards a POI. Looking to sell

Trade active

I am in position

SL: 2.920
TP 1: 2.435 (around)
TP 2: 2.3 (around)

Trade active

Trade is going well!

Moving SL to 2.735

Trade active

→ TP 1 smashed and took partials
→ SL to B/E

Congrats to whoever took sells! You should be in the money right now

Note

GAP when market open! A lot of times they will close but with the GAS it depends on when. Based on market structure I am thinking we will go down.

Order cancelled

Price reached my SL, but we got a W. This is why it's important to take partials!

Note

I wanted to wait until natural gas storage data release and the development of the candles to give you an update on the analysis.

In my charts you can see both scenario. The bear or bull scenario are probability wise too much alike, so I am neutral.

Simba_Trading

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