Natural gas idea
Updated
The chart says it all. Lets see if this level will hold. Long with a tight stoploss.
Note
Starting to look positive. We are at 3.942 now. But this move up has been a bit 'easy'. We cannot rule out it getting messy with big moves up and down. In that case it will probably try to break the trendline once more (and make a double bottom). Since I am long I am hoping we go straight up.Note
As I thought things got messy. As I wrote yesterday we made a nice double bottom. We will have to see if it will hold. Use a tight stoploss. We also cannot rule out a daily fakeout below the channel and closing back above the channel. In that case open long position again after it hits back above the trendline.Note
It is starting to look like it has indeed made a fakeout to the downside. It bounced back to the original trendline level. Lets see if it can hold or bounce further. A daily closing above the trendline will confirm it was a fakeout.Note
Well, it is messy. We just dropped to the trendline level again for a third time. Third time's a charm or will the level finally break?
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.