NatGas: Down Low! 🎺🎺🎺After all the massive bullish runs, the NatGas price needs to cool down a bit. We expect it to fall to $4.758. From there, new surges are to be expected.
Cooling Down!
Natgassignals
NAT GAS - INTO SHORT TRENDHello trading friends,
Depending on the last chart study for NAT GAS - it looks we are entering a new breakdown trend.
This could be a start trend for further breakdown trend for NAT GAS.
Have a great day.
NatGas: Enough is Enough! 🔥🔥🔥The NatGas price has been surging over the last couple of months and we expect it to slow down soon. Here, we expect the correction to stretch until $4.157 before prices start to explode again.
Go Bears!
Target hit, from 1.5 to 4.5!!I posted several calls from June 2020. NG is super bullish and will breakout from the multi year channel soon to target ~8$
Now we go down in a large correction and sideways movement until November. Bears are coming.. temporarily.
NatGas: Wait, Wait, Go! 🥵🥵🥵There is still some room left on the bottom side of the NatGas chart. The turnaround should come around $3.521. After that, massive increases in the price should follow, given that the price does not fall below $3.13 before.
Heat now, cry later!
NatGas: What Goes Around Comes Around Although the NatGas price sharply dropped, we expect it to further rise until we are closer to $3.316. From there, we expect a longer corrective movement to dominate until around $2.187. After that, we should experience rising prices again that lead us over $3.800.
Stay trading!
NG1 - Natural Gas.NG1 - Natural Gas
We've been in range while, patience is key with this one
Technical aspects - Brewing up nicely!
Support: 2.400, 2.275, 2.040
Resistance: 2.945, 3.070, 3.375
Pattern: Wedge / Double Bottom
A break to either direction and a pull back to the trendlines either direction of break trade to be taken. (once confirmed)
Trade Journal
(Just a trade Idea, not a recommendation)
Gas Long SetupGas Long Setup
🔵 Entry: $2.740
🟢 TP & RR: $2.890 (2.14)
⛔ Stop Loss: $2.670
Trade Reasons:
✔️ Oversold Level Market Flow
✔️ Diagonal Trend Line Support
Gas Long SetupGas Long Setup (refer to the setup marked with "2")
🔵 Entry: $2.704
🟢 TP & RR: $2.898 (3.4)
⛔ Stop Loss: $2.647
Trade Reasons:
✔️ Support level
✔️ Close to the 0.618 Fib retracement
✔️ Diagonal trend line within ascending channel
📝 A few things to note here:
1. Seeing how price action develops, you may close the trade setup suggested yesterday (marked as 1). You should end up with a tiny profit or break even (depending on the comission you pay). The current candle formation does not look promising for a long setup. Alternatively, trial the SL up as soon as/if price starts moving up.
2. I personally avoid having open positions near my entry level before the weekend, especially if that weekend happens to be the end of the month. So for me, this is a disproportionate risk.
3. Setup marked as "2" is the order I will be looking to open if price retraces to that level. The Stop Loss is not ideal, as I think it should be slighly under the 0.618 level, but I leave this up to you. Your RRR will decrease in proporiton to the distance to your SL.
Gas Long SetupGas Long Setup
🔵 Entry: $2.81
🟢 TP & RR: $3.04 (1.71)
⛔ Stop Loss: $2.67
Trade Reasons:
✔️ Reaching lower trend line
✔️ Reaching support level
✔️ Market Flow indicator printing small divergences in the oversold area
📝 Not a great RRR, but the SL is positioned at a very safe level below the diagonal trendline and the recent lowest low. If price bounces off that level I will be quick to trial the SL so that I minimize exposure and lock in some profits.
Trade update: Still in the fightAfter getting knocked out earlier in the month, the most recent range reversal trade has worked out well. I am going to stick with the short position for now as long as the rate of change stays negative and we remain under the 132 bar (or 22 day) moving average. I am still looking for price to hit range lows near 2.238
GAS Fibonacci Retracement - Long TradeGas Fib Retracement - Long Order
Entry: $2.407
TP & RR: $2.549 (3.38)
Stop Loss: $2.365
REASONS FOR THE TRADE
So far Gas has respected the Fibonacci levels twice, leading me to believe that we may see a bounce from the 0.236 level and a potential reversal. We also have a descending trendline, which I am not sure how well will be respected, but it's worth keeping in mind. The Stop Loss is set at a reasonable distance from the Fib level and the target is at the 0.5 level. Although, if a reversal follows from 0.238, we may keep at least part of our position for higher levels.
Gas Climbing Up - Long OrderGas Climbing Up - Long Position
Entry: $2.715
TP & RR: $2.877 (3)
Stop Loss: $2.661
REASONS FOR THE TRADE
So far price action has formed a diagonal trend line, so I believe if it respects that level the price should bounce up and head towards a double top. There's also the possibility that we don't get filled and the price starts trending up without us, which is fine. We want to put the SL at a level that makes sense and the only one such is just too far, giving us a pretty bad Risk:Reward Ratio.
Round 2 I was wrong about natural gas last week but I am taking another shot here with a stop above 2.900. Maybe this time it will reverse.
NATGAS SELL TP_2.261_15.32%_0.409pips_SL_2.751_3.41%_0.091pipsNATGAS SELL TP_2.261_15.32%_0.409pips_SL_2.751_3.41%_0.091pips
Gas Upper Trendline - Short PositionGas Upper Trendline - Short Trade
Entry: $2.845
TP & RR: $2.693 (2.08)
Stop Loss: $2.918
REASONS FOR THE TRADE
After the breakout from the descending channel, we see the price sliding up an inclined trend line. However, the price is now reaching major resistance and I believe there will be a small pullback before potential continuation to the 1.618 Fib Level. The Market Flow indicator is also starting to revert, indicating weakness.
The entry is somewhat conservative since we give the price some more room to continue up before we enter the trade. Opening a position against the trend is rarely a smart idea. The Stop Loss is well above the trendline, which doesn't give us a great RR, but at least we will have more time to assess the price action and potentially close the position if things are not looking too good.
GAS Testing Support Level - Long OrderGAS Testing Support Level - Long Position
Entry: $2.566
TP & RR: $2.673 (2.49)
Stop Loss: $2.523
REASONS FOR THE TRADE
This looks a lot like the infamous " market maker method ", so I am expecting the price to continue trending down even below my entry zone. The logical question is then why are we opening a long trade? Well, if this support holds and I believe it will, even for a short bounce, then the RR is pretty decent if the price reaches the upper trendline. We can then open a short order with a SL just above it.
My SL here is very tight and I do warn you that you may get stopped, so adjust it accordingly. I will use slightly less than my traditional trading size, thus limiting my loss, and be able to re-enter again if the setup turns out to be valid.
💡 NATGAS . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 3.000, beginning of downtrend is expected.
We make sure when the support at 2.250 breaks.
If the resistance at 3.000 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 2.378 on 12/08/2020, so more gains to resistance(s) 2.700 and maximum to Major Resistance (3.000) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.
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💡 NATGAS. Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 3.000, beginning of downtrend is expected.
We make sure when the support at 2.250 breaks.
If the resistance at 3.000 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 2.378 on 12/08/2020, so more gains to resistance(s) 2.700 and maximum to Major Resistance (3.000) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Natural Gas Futures: Anchor testCycle anchor high/lows test.
Green verticals = Highs
Red verticals = Lows
natgas is about to go up again - gaz tekrar yukari gitmek uzreNatgas is about the finish its correction
Gaz duzeltmesini bitirmek uzere
Don't miss the great buy opportunity in NGASMidterm forecast:
While the price is above the support 1.400, beginning of uptrend is expected.
We make sure when the resistance at 2.250 breaks.
If the support at 1.400 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI bounced from the support #1 at 30 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.640 on 07/20/2020, so more gains to resistance(s) 1.900, 2.000, 2.100 and maximum to Major Resistance (2.250) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 58.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.650 - 1.550). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP1= 1.900
TP2= 2.000
TP3= 2.100
TP4= 2.250
TP5= 2.500
TP6= 2.700
TP7= 2.950
TP8= 3.650
TP9= Free
