NATURAL GAS SHORT 1 HOUR BREAK AND RETEST TRADE SETUP
Hi everyone:
Here is my view on NATURAL GAS SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #8
Date: 12/08/2016
Time: 08:00 GMT
Forex Pair/Commodity: NATURAL GAS
Position: SHORT (SELL)
Reward/Risk: 3+:1
Opportunity:
Daily: over extended run to the upside, now formed tweezers tops, bearish reversal developing
4 Hour: good break down of the support trend line, and retrace to main pivot point
1 Hour: break down the 20/50 EMA, support trend line, then retest the resistance level of 0.382 fibs retracement, 50 EMA, and main pivot point
5 Min: price breaks down, and formed a bearish flag pattern
Looking to take this pair to daily .382 fibs retracement, 50 EMA, and strong horizontal support and resistance line of 3.00 area for more than 3:1 reward risk ratio.
Thank you for your support
Here is my view on NATURAL GAS SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #8
Date: 12/08/2016
Time: 08:00 GMT
Forex Pair/Commodity: NATURAL GAS
Position: SHORT (SELL)
Reward/Risk: 3+:1
Opportunity:
Daily: over extended run to the upside, now formed tweezers tops, bearish reversal developing
4 Hour: good break down of the support trend line, and retrace to main pivot point
1 Hour: break down the 20/50 EMA, support trend line, then retest the resistance level of 0.382 fibs retracement, 50 EMA, and main pivot point
5 Min: price breaks down, and formed a bearish flag pattern
Looking to take this pair to daily .382 fibs retracement, 50 EMA, and strong horizontal support and resistance line of 3.00 area for more than 3:1 reward risk ratio.
Thank you for your support
Note
Note
Move my stop loss to break even once the price has hit 1% profit around 10:00 GMT, then the market turned around to hit my stop loss at break even.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.