Natgas
Feb 27,22-NG-Was 2 the bottom?Not sure if 2 was the bottom or not, but there was a support/resistance line around 2.3 so I put a Buy Order in on Fri at 2.350 to see if I can catch 500 points.
So far so good but I might cash out shortly. We shall see.
Question is....WAS 2 the bottom? Or will price just reverse this week and head back down to 2? Regardless, keep an eye on your trades - anything can happen and the recession is still coming(even though it's already here but most people don't want to admit it - AND - their realization hasn't shown yet in the markets).
Trade safe, stay safe.
Heiko
NatGas Cup and Handle in the making?On my first public analysis, I suggested that NatGas would reach its 2.66 resistance before any profit taking that could bring it back to its 2.42 support zone. Now that the first target is reached, and considering the strenght/speed at which it got there, I am leaning to the idea that we'll have a cup and handle and not another reverse H&S forming. Therefore, 2.54 is the new support I check. The 2.66 resistance could even be turned as a resistance without a pullback. If it hold, then 3.01 becomes possible short term. Remember that NatGas is usually bullish from March to May. Considering recent behavior of the price, and despite our overall warm winter, we are now getting ready for summer months.
Natural Gas prints an RSI bullish divergence As you can see in the chart, natural gas had a big downside movement for the last months. Now It looks like the bottom is printed so I will consider entering a long here with targets 3.11$ and 4.69$ .
You can see apart from the Bullish Divergence that It is starting to show a lot of strength, you can observe a gap-up between 2.314$ and 2.415$.
For the buy setup I will enter now and set an stop loss order under the gap. If the position goes well, I will keep locking profits manually trailing the stop under key areas.
Don't forget to share your thoughts on the comments and happy emotionless trading.
💨 $NATGAS UPDATE⤑ NATGAS found strong support around the key support zone as detailed in my previous post (see related idea)
⤑ The strong weekly performance points to a change of behaviour by market participants.
⤑ The change of behaviour does NOT automatically mean that there is a TREND CHANGE. This is only the first step required for a TREND CHANGE to occur.
⤑ At this time, it is the first sign that the "status quo" bear market condition has "stopped" for an unknown period of time. It may be only act as a temporary PAUSE prior to a resumption of the bear market.
⤑ In the immediate term (next couple of weeks), I would expect prices to reverse higher as there is strong upward momentum. Afterwhich the price may drop once more to re-test the support zone. The price action resulting from the re-test (if any) will guide us further to where prices may move in the longer term.
MrStocky
Natural Gas - RSI Low to Price LowThis chart shows the number of weeks between a low on the RSI for #natgas and the low in price. 2019/2020 period is omitted due to the unusual effects of pandemic and lockdowns on markets.
RSI Bottom to Price Bottom
2001 - 13 weeks
2009 - 26 weeks
2012 - 12 weeks
2016 - 13 weeks
Average = 16 weeks
Bottomed In Month
2001 - September
2009 - September
2012 - April
2016 - March
Natural Gas- Killing the BullsFrom our previous post, linked in description, we counted Natgas to be in wave iii of C, keeping extending to the downside as long as retailers bottom fishing in mass. We believe that Natgas will provide a beautiful long opportunity, but only once retailers will be shaken out. Price bounced from our support, but created lower highs in a triangle.
We are sort from @2.628 stop loss @2.7 risk 0.5%. Targeting a lower low in the 2.2-2.3 area.
Best
GMR
NaturalGas is a BUY from here on!Let’s try a BUY - guess the bottom‘s in?!
After all, the ultra-longterm downtrend was broken…
NATGAS (NG SPOT) LONG TERM BUY SETUPPEPPERSTONE:NATGAS
HI , TRADER'S , NATGAS IS IN EXTREME DOWNTREND , RSI IS EXTREME OVERSOLD AREA NOW
So , now we are looking at 50% retracement to 200 EMA area of 5.2$ ,
As market after forming 'M' PATTERN Double top , fall down
Now market at support level Possible double bottom can be formed
Buy entry for target of 5$+
❤️Please, support my work with follow ,share and like, thank you!❤️
$NATGAS decent risk-rewardthe stop loss is far away, but I will treat this as an investment, not a quick trade
💨 $NATGASNeedless to say, this week is an important week for NATGAS price action.
✪ Price needs to hold within or break above the SUPPORT ZONE asap. A sizeable rebound higher would be expected if this succeeds. 📈
✪ Failure to hold the SUPPORT ZONE will most likely see prices deteriorate further, possibily to the LOW at $1.50 😓
☝️ We are yet to see a state of capitulation/panic. This is usually signalled by a spectacular sell-off due to accelerated selling in the form of an out-sized weekly red candle/bar. That would mark the bottom or near bottom.
MrStocky
✅NATURAL GAS WILL KEEP FALLING|SHORT🔥
✅NATURAL GAS broke out of
The range and as the price
Is in the downtrend I think
That we will see a bearish
Move down towards
The target below
SHORT🔥
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Natural Gas - BUY - rebound towards the resistance level.Despite the current downward pressure on the price of natural gas, it is expected to rebound towards the support level which has now turned into a resistance level, but may subsequently resume its downward trend. This could potentially create an opportunity for quick profits
NATGAS Broke The Range! Sell!
Hello,Traders!
NATGAS is trading in a
Downtrend and the price
Broke out of the horizontal
Range so I think that
We will see bearish
Continuation
Sell!
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See other ideas below too!
NG - Buy Set-up AheadNG has sustained an ugly sell off. Not unusual in this market. This is an opportunity for short and longer term gains I believe.
One needs to be prudent in selecting entry points in this market to manage risk. I believe we are now at that point.
I will be looking to get long next week. If you prefer an etf to use UNG chart below.
Ideally if A = C entry would be roughly $7.40 in UNG.
Feb 15,22-NG-serious sideways actionI can't say when NG will rise again with any significance, but it looks like NG has a floor around 2.350. This is about the low that NG has hit the last 3 weeks.
I'm putting in a standing Buy Order at 2.350
I expect price action to hit this level at some point over the next week or 2. I'm hoping not to miss the next rise up, maybe to 3? Even if it does, I'd say price will come right back down to the 2.5 area and hang out.
Whatever you trade, if you trade NG, keep a close eye on your trade. Lord knows the Big Boys can step in anytime and ruin most of us little people.
Stay safe all.
Heiko
Natural Gas - Long view for next tradeThis is my view for Natural gas in the short time.
If the price break the resistance area I will open a long trade with target near 3$ area..
Stop below tha actual minimum area with a very light loss.
dont't open long position without the breakout ...
only for speculation not for investment.
NatGas - MassacreI don't have a working cycle count in NatGas right now as I haven't traded it since it topped earlier last year.
This is a falling knife.
2 days ago we lost 3.300. That was the 2021.02.18 top and the Fibonacci 78,6% retracement level. As we broke below that level I see nothing until 2.442 and 2.267.
If anyone wants to long this needs to wait at least a reversal candlestick pattern but I wouldn't try any long position before price drops between 2.442 and 2.267.
Natural Gas: on watch for a breakout!We discuss the latest daily and intra day price action.
Some education about basing formation and what we need to see to gain likely more upside.
Natural Gas anticipating Wave 4Hello,
I think NATGAS completed wave(3) when it reached $2.41, if that support line hold, I expect a correction until $4.50 or even $5.00, however its too early to decide from which price wave 5 will start.
I believe the chart explain every thing. let me know if you have any comment.
good luck.
Nidal Khalid
Nat Gas Accumulation TimeWe're coming in to a zone near the $3 mark where we belive it would be prudent to start accumulating long positions in natural gas. Using Elliott Wave anaylsis in conjuction with fundamental analysis we're pretty certain there's a huge upside to natural gas. We're unsure as to whether this will be a wave 3 or a wave C to the upside, but ultimately that doesn't matter as both will provide us with an upside target of at least $10+. Fundamentally there will be a bigger surge in natural gas demand as it has become evident that the world is not ready for renewable energy to support our power needs (if it ever will be able to support us entirely) so 'cleaner' fuels such as natural gas will be used in the immediate and near term to meet the global energy demands. As always with trading we don't need to know everything, we just need to be on the right side of the movements to make money and we're pretty certain this is going to be a huge move to the upside in the coming weeks and months.
Feb 6,22-NG-Going down still or SidewayI zoomed out to the Weekly chart so you can see just how brutal the price has dropped over the last 8 weeks.
Question is, will it continue? Or is this going to be a bottom?
Answer is to wait this week out to see if price levels out or not. Obviously if price ends the week below 2.3 then we are still going down.
I'm looking for a decent close around 2.5 or 2.6. Then I will monitor price next week to see if there is a chance to break up to 3.
Remember we are heading into warmer weather soon and we have had a pretty warm winter overall so supplies are pretty full. Price may not do much for the next few months.
We shall see what happens. Stay safe.
Heiko
