NGAS : Short Setup towards $2.50 and below
Energy is very difficult to trade under present OPEC situation.
Yet formation of structure is such that it tends to break down after Zigzag consolidation in form of ABC towards 61.8%.
Look for bounce towards 3.2 as wave (2) advancing towards below 3$ in form of wave (3). I believe this completes the cycle by approaching $2.5 in five wave structure.
Take your entry wisely with perfect money management.
energy trades and OPEC can burn your accounts.
Trade your own plan
Happy Trading
Yet formation of structure is such that it tends to break down after Zigzag consolidation in form of ABC towards 61.8%.
Look for bounce towards 3.2 as wave (2) advancing towards below 3$ in form of wave (3). I believe this completes the cycle by approaching $2.5 in five wave structure.
Take your entry wisely with perfect money management.
energy trades and OPEC can burn your accounts.
Trade your own plan
Happy Trading
Trade active
As we suspected, it became weak on follow through. I am going short with tight SLNote
watch TLhttps://ttps://www.tradingview.com/x/yTLqaBXt/
Note
Note
NGAS always overshoot :|Note
Warning !! : Careful for this structure completion, it can reverse or keep falling. Trade with Breakeven S LTrade closed: target reached
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Related publications
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.