NGAS daily bearish bat pattern yo!The 2618 trade of the Hindsight challenge was AWESOME!!
NGAS finally hit the entry of the bearish bat with a strong gap up on Monday morning Asia session!
With the 3.500 fig combination, I'm willing to wait for 4hr reversal sign here for a short trade!
Let's see how it goes!
NGAS
How NGAS reacts with harmonic patterns -- hindsight challenge(1)One thing that the analysts in this business will be challenged forever is about hindsight.
Even the simplest single EMA system can look outstanding when it comes to the happened candles.
While, for a mature system trader, what we really focus on is two questions:
1. "Do the patterns match the definition?"
2. "What exactly is the trade? (at least with an entry and a stop loss) "
3. "Is the trade triggered"
One of these 4 trades is a simple hindsight that didn't really match the definition of the pattern,
Let's try to point out which one it is if you know exactly how these trades work yo~!!
2018.07.31HUGE rejection right off of 2.825 (July 11 high). Bearish setups are still in play as I expect a bullish move on Wednesday and EIA report (last two reports were bullish so I expect shorts to cover a bit). As such, I expect a retest of today's highs ~2.81-2.825. I doubt natty will break 2.825 unless EIA report is extremely bullish. Therefore, I'll be looking to go short at either red line (2.825) or upper purple line (~2.813) for a break of the lower purple line and then a test of low 2.7s
GL to all!
UPDATE: very IMPORTANT juncture for USOIL, I expect higherHi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
Global-Review / May 11th : Equity risk over ? Volume says no !Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video.
Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
Market Review / Apr. 27th : BTCUSD, SPX, NGAS, VIXHope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video.
Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
USOIL vs Nat Gas Portends Ominous Signals for Natural Gas There is a cup and handle developing on the MONTHLY. The blue rectangle is the support in which the cup cannot break to remain valid. This ratio could, of course, break down, but statistically, it will likely rise in value over time.
How could this ratio go as high as the 30s or 40s? Or even higher?
A) Oil would have to go into the 100s while nat gas remains in the 3s.
B) Nat gas goes lower into the single digits while oil rises marginally, maybe high 60s.
B seems most probable to me.
The monthly on natural gas continues to look very weak:
NGAS - D - LONGI have missed several trend within NGAS because it was so erratic recently without a chance to catch the movement, at least with my strategy.
The uptrend I'm waiting for is not yet confirmed and everything is possible, within at this low level NGAS is sitting currently. I do believe that 4H is showing good movement that could lead to strong impulse on daily TF. Weekly and monthly are back to consolidation range since months and this accumulation will lead "probably" to a break to the upside. A bit like my WHEAT trade.
Trade with your own diligence,
GL HF
Aggressive Traders Could Try to Short Natural Gas Now $UNG $NG_FNatural gas broke below the Red and Yellow indicator lines and should be shorted because it is in a downtrend currently
My custom support resistance indicator lines show decent places to enter or exit.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long.
If your instrument closes below the Red line, we think about Shorting.
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts).
Find out more. Send Private Mail (PM) to @MasterCharts
Natural Gas "It just Dawned on me"I was laying on my couch thinking about NG and wondering what in the hell is going on with it. Then it dawned on me. After years of a bear market for natural gas, We are in a corrective ABC pattern. DUH, right. So then I was wondering about the last month of this uptrend and how complicated it was and thought, what if we had an ending diagnol for the A wave and we are now in the B wave. When I drew it, I saw how this drop over the last few days now made sense. SO assuming the drop has completed, we should get a zig zag moving up and then another drop and then a larger C wave up to higher highs. I would not be surprised if the zig zag moves up to the decending trend line. This makes the most sense for me right now. So I am in UGAZ for now. GL
Natural Gas "Maybe Finally the winter rally"Lets see how this plays out ...but....I think that grey area that I had previously talked about was squashed today. I am hoping we close above the first trend line. A close above the next one is super bullish. I think a little flag consolidation just below the next trend line would be a great sign.