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Natural Gas

ridethepig | Natural Gas Breaking Out!A nice swing cooking right on time for December seasonality flows to kick in. This leg higher threatens the sacrifice of resistance and creates freedom to manoeuvre towards $4 and $5 in 2021. We have a similar sized move cooking in energy to the leg we traded in Oil, only this time round the swing we are tracking is to the topside. See for example the following breakdown we traded in Oil; In the ST, play with the flow and continue ride the leg higher towards something like +/- 3.5 and 4.0 as the extension. Sellers are quite paralysed. For the MT and LT as we know, the philosophy of transition towards a 'Green new Deal' or 'Build back better' in such a short period of time constitutes a pipe dream. Already power grids are coughing badly with so much activity from lockdowns and more people at home, the theory that we will all be driving electric cars and etc looks quite far... one cannot rebuild energy without great difficulties is important to understand. Thanks as usual for keeping the feedback coming 👍 or 👎
NLong
by ridethepig
1
NaturalGas playing as predictedLast Friday i published an idea of LONG on NG, after complete correction - accumulation zone, it´s playing out perfectly. What i am waiting for now is only flag on 4h timeframe after that i will take the Long on breakout of that flag. Fundamentals are same as last week. QE, low interest rates, expansive fiscal and monetary policy that could lead to inflation in the long-term. Targets are 4,9 then 6,45. Enjoy. The idea is only my view of market and im not encouraging anyone to take that trade.
NYMEX:NG1!Long
by TradingPeak
1
Holiday GasNatural Gas continues to show a build up of bullish price action. Linked below is a previous analysis on the winter contracts showing the target hit DEAD on. Being that winter is not here yet, it's very possible this pattern continues to play out to the upside. First. The most recent weather outlook now points to December being the coldest month which means the January contract is in focus. On the daily chart the price action continues to knock on the ceiling of resistance with several key indicators all flashing bullish signals. 1. Support at the 50 EMA 2. RSI breakout 3. MACD above zero with room to run Targets. The fibbonaci extensions map out objective targets. A big enough cold blast could easily send prices to the $4.20 level by Christmas. Which happens to line up almost perfectly with a macro fibonacci retracement from the 2018 highs to the 2020 lows. Are you bullish yet? Taking a step back looking at the weekly chart it looks even more bullish bouncing off both EMAs. My buy signal will be a break above the top of this weekly candle at 3.435 with a stop below last weeks candle. Trading is risky and should not be attempted by anyone.
FX:NGASLong
by ryan-snk
Spooky GasTime to start looking for another spooky Halloween trade as the latter half of October brings in cold temps. Prices are now sitting near historically supportive levels and bullishly above the 200 week EMA, with the 50 curling up. A closer look at the 4hr chart shows prices are coiling up with the RSI in buying territory. Buying here. Targets 2.8 to 3.08 Longer term we can also see the Winter contracts are consolidating at the 50% retracement and the next targets would be the 61.8% and possibly the 78% level. Remember, December has been a "warmer than normal" month the last couple years so if this repeats there should be a nice pullback to take advantage of next month.
FX:NGASLong
by ryan-snk
NG, not Coal. Thanks!The big question is what is going on with Nat Gas this year??? The December(Z) contract is still coiling up in a wedge pattern and about to reveal the answer. A closer look at the bullish scenario... It's looking technically hopeful with the 200 Week EMA, $3.00 level, and the bottom of the wedge all lining up. Now the bearish scenario... The RSI could actually be showing that the strength of this trend is toast and it's possible the MACD is over-extended. It would be a good idea to keep a close watch for the whole thing to fall apart, just as bulls are piling in for an anticipated leg up. As of now I'll be looking to buy December(Z) again around $3.00 if a bounce is confirmed and it remains within the wedge pattern.
NYMEX:NG1!Long
by ryan-snk
RIP to the MACD cross BB Trendline Swing TradersThe price gapped by 69 cents. Hard to think there aren't whales having fun fleecing retail or something. I wonder what will happen next with the COT. Actually we just changed month as we were close to expiry. Damn might have been able to profit from the contango. Still funny to see. I wonder how many retail gap traders will furiously short it now. And the short ETFS must be doing great. Maybe Robinhood "investors" will notice big drops and buy the chart without a clue of what is behind it. Depending on the broker people just trade some made up chart that is supposed to look like NatGas and I'm sure some short sellers got ran over. Commodity futures are more complicated than Forex in the sense that you got to watch the expiries. Bigger barrier to entry I mean. If you understand that: - Less is more, - Trading is not rocket science, - You must not overcomplicate your trading, - The best strategy is a SIMPLE one (that you can explain easilly in a few words and took you 15 minutes to put together), - Smart people are at a disadvantage, - The most important part of trading is emotional control (something that sounds like anyone can do it), - You can make 50% in 2 months, - Trading is a new paradigm it's not like other boring jobs where the more you put in the more you get out here all you need is 1 hour a day, - Spend as little time as possible doing research to avoid analysis paralysis, - Rely heavilly on indicators Then you are the smart money and on the road to success and I know some people that would be very happy to sell you a course. Good luck competing against the pros with your simple strategy, low IQ, slack off not a care in the world attitude, and 45 minutes a day. Just something to cheer me up and distract me after I missed buying the pound by a few seconds. Who knows maybe it'll go back to my entry before rallying. Now NG is only in a contango of about 12%, not enough for me to want to exploit if that's even still possible with my broker.
NYMEX:NG1!
by MrRenev