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Natural Gas still coiling! breakdown or breakout?Hello Traders In This Chart NATGAS HOURLY Forex Forecast By FOREX PLANET today NATGAS analysis 👆 🟢This Chart includes_ (NATGAS market update) 🟢What is The Next Opportunity on NATGAS Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
NYMEX:NG1!Long
by ForexMasters2000
US30For now it is to watch and let effect take as to what will happen. We don't predict the market but we forecast from signs of the market and we build ideas on that, then according to our plans we set out to make the most we can. Hear we have different highs and probably why the sell off has not began. But we know that we are in a correction of a bearish leg. This gives perspective on to the longer term view and what to expect long term. 39035 - 39040 is our target and what price does here will explain what we do next.
PEPPERSTONE:US30
by Mhangwane1
USDCHFWe are in a down trend and currently in the corrective phase of the leg. We have not gotten a multi touch confirmation but we got a second touch which is also still valid to use. Price tested the previous high and rejected. Going down into lower time frames. The are 3 bearish soldiers from that rejection which show further market strength. We are in a very corrective ascending channel. We formed another correction (it has been 6-8 hours). Sell Idea also still has kinks so make sure to follow your plan and manage according to your system.
Short
by Mhangwane1
N1We had some good trades. WEEKLY We've pulled back and had some interesting price developments. Moving towards more of the structure we see and prefer price to get to. DAILY We had an evening star at the top of this correction structure which is what gave us more evidence to move towards the downside. The pullback is giving us a different story and we need to take what the price is giving us in order to plan the next move. 4H We've had multi touches within our correction and we had a very strong doji where price tested but could not break. 1H Stay waiting.
PEPPERSTONE:NAS100Short
by Mhangwane1
US30This and NAS100 have a similar path not the same. WEEKLY 40000, the highest price it has peaked at. When it peaks it then drops and goes to fetch support from a previously strong support level. NFP is where we will get our volatility. DAILY We were in an impulsive phase, because we know that the trend is bullish. Just stuck in the ascending channel. 36000 looks like the assumption price, but we need to remember the assumption price is not a strong clue to add to our evidence file. 4H I am seeing a bear flag, which should touch 38700 before collapsing, where we can get in with a risk entry or keep waiting till a reduced risk entry. Let's let price develop before we act and do anything. 1H Just stay watching and waiting.
PEPPERSTONE:US30Short
by Mhangwane1
N1We had quite a few trades in the past week, but we were either too early so we taken out or in too late so we took short profits. WEEKLY March we had the peak of price, first time in it's history (18400). When we look left, whenever price peaks it drops for quite a bit before it goes back up. So we can assume we might see 16000 again. DAILY We just have an ascending channel within a bullish trend so we can assume that the overall demand is up. The DXY will give us more clues as to what can happen, American countries as well need to be monitored for new IPO's and their financial year results to get more information. This will add to our portfolio of evidence. We can see we are in the correction phase, but because it's so deep we can expect it to go further down for quite some time. 4H In the bigger correction, we're in a smaller correction. So the assumption is that price is going down. We are not children of the market so the assumption is just that, an assumption not the forecast. We still need more candlestick confirmation and pattern formation before making a final forecast. 17600, is an area of interest as this is where price will do something unless it breaks right through. 1H We are struggling to break 17800, so we know that it is a strong resistance level. NFP being this week does not mean that we have to trade, it means we need to make informed decisions based on news and reports.
PEPPERSTONE:NAS100
by Mhangwane1
UJLike GJ, I am staying very far away. WEEKLY We are currently testing with a hanging man, which is usually a reversal candlestick, so we will keep waiting for it to complete as it can change. DAILY This is the highest price UJ has ever crossed in its history, which indicates the strength of the dollar to the Yen. Which is why we can watch as well what the DXY is doing as this is the index to give us ideas of where the market is going. 4H We have been in an ascending channel, this is only the second touch of the touch of the channel so we cannot assume yet that there will be a drop. If we get an override through pattern confirmation or candlestick confirmation then we could look for shorts. We are in an expanding channel within an ascending channel, so we could actually just be continuing to the upside and we are mid-range so it's not best to do anything. 1H Just stay watching.
by Mhangwane1
GJI am staying out of it. It is confusing and that's when it's best to stay away and out of the market. DAILY We peaked at 200.50, which is good to look out for possible buys into the market. Which last happened in 2015. This is the final (3rd leg) of the double bottom (W formation). 4H Ascending Channel within an ascending channel is what we look for when trying to get sells. Which will give us added information for our case of evidence. With where price is (mid=range) it is better to stay out and stay away. 1H Same as the 4H. Just stay away and stay watching.
by Mhangwane1
NAS100We were triggered and stopped out but we did fair. DAILY Kept falling and dragging down and tested around the support level, 17070 around here. We have a test candle which shows that our test level was correct. 4H Price is testing again (in correction) so we stay waiting and watching for either the break (impulsively) or the reversal impulsively. This is where we will get more information to lay forward our case. 1H Reject before 17500 is where we would believe that our correction has ended, break through here means we wait even more.
PEPPERSTONE:NAS100
by Mhangwane1
US30DAILY We had the touch we needed, and were triggered in quite early. SL moved and stopped out. The risk entry paid off, the reduced risk also paid off. Low test candle close to our support, it's to add to our current knowledge not direct triggers to take trades. 4H Last 3 bullish candles seem to give headroom to the reversal conversation but till there's more bullish pressure or final rejection on the support - not doing anything. 1H Squeezing wedge in a bearish trend means we will get the squeeze and expect an impulse.
PEPPERSTONE:US30Short
by Mhangwane1
US30Identify which phase of the market you are currently in. DAILY Still in the correct phase of the bull trend. 37060, our significant support area where we believe the correction phase will start to phase out. We had an ascending wedge, which we broke and have just kept going down since then, forming bear flags on the way down. 4H The flat flag pattern is not confirmed as we only have 2 touches on either side, with price hanging in the middle we watch and stay waiting. We have placed to trade ideas, one is the super risk entry the other is the reduced entry. The risk is triggered and we just waiting for the reduced entry to be triggered. 1H Forming a pattern within a pattern (another bear flag) within the possible flat flag. So we can believe the trend we have concluded the bear movement.
PEPPERSTONE:US30Short
by Mhangwane1
N1DAILY We still in a bull trend but in the corrective phase of the bull trend. 16900 area is where we want to see action. The last support as all others are broken right through. We formed an expanding wedge going up and was broken, the retest here will let us know it's fate. 4H We formed a "flatish" flag, which is the correction of the current trend (bearish). Broke it and we are correcting once again, so we should anticipate the completion of the correction to come with an impulse. My idea has it collapsing further to 16965, around here we'll gain momentum. 1H A mentor of mine says trade the market ugly. Ugly is definitely is all I see. Waiting for the impulse candle to kick in and drive the supply.
PEPPERSTONE:NAS100Short
by Mhangwane1
UJDAILY Not going to lie, there's no pattern I see. Just the assumption of the one I want to see, which is not a fact so it cannot be used as a confluence. Yet we broke 152.00 which if you zoom out will confirm that we are still in a very bullish trend. Impulse, Correction, Impulse : If you zoom in. 4H We formed a bear flag and broke it impulsively, breaking at 152.00. This is where our resistance was very strong. Had a flat flag, which was also broken, 153.40. Now we are currently in another correction structure (also the high price UJ has ever seen. 1H Touch of the bottom of symmetrical triangle 3 times, so we can assume the third touch of the top will be the break to continue to the upside. It has also formed a variation of an inverse H&S which shows the further strength of the demand to the upside. Trade Idea : Wait for the break of the triangle
Long
by Mhangwane1
GJI am seeing a long sell DAILY We have struggled to break the high for the third time, telling us the ceiling is high and filled with sellers. An ascending channel is forming and within it we have another ascending channel which adds to the confluence. 4H We have a bullish channel in the smaller ascending channel. Where it is also struggling to break the high. 179.80, this gives us ideas of what to do next as we wait on the market open today which will come with the supply. 1H Impulsive bearish candles, they dragging each other. Let's stay watching 192.20 and see how the trade idea goes.
Short
by Mhangwane1
UJStill holding a buy, moved SL in profit. With the current price movement we might get stopped out. DAILY 151.90, we finally broke and closed above. We are now either waiting for the further bullish push up or the retest so we can enter on the continuation. This is the highest price UJ has been peaked at, so we know the dollar is doing quite well. 4H 152.80 gave us a form of support and we have been going up. Yet we wait and watch as it could shoot up and create new supports or breakdown to retest old resistance as supports. 1H We are seeing a test candle which is a form of reversal so stay watching for that. 152.80 is our support for either a breakdown or reject and shoot up. 15Min
Long
by Mhangwane1
GJStill holding a bad trade from yesterday, entered too early. DAILY We had a close with a reversal stop candle which was showing us downwards demand, now we we are forming a bullish reversal candle. So we know that the candlestick use is wrong, as we should use patterns to give us more guidance. Retesting 192.00, which we have established as our resistance and price of reversal. 4H 192.50 was the turning point and we are still moving to down side, so we will wait and hold. Having a trend within a trend, we have a bullish reversal channel forming in the larger bull structure, therefore we need a break and retest in order to fully execute this trade idea. 1H The close of the candlestick will give us the confirmation we need to start thinking of placing our sells. 191.60 is where we need to break and reject before we fully execute. 15Min First let price reach 191.80 and break through here first.
Short
by Mhangwane1
UJWe were also triggered in here, but SL was moved into profits so we were stopped out. Wen in again and fully got stopped out. Now we refine what the market is telling us. DAILY 151.97, our peak and our ceiling. Looking left what we are waiting for is a drop and a painful one. The dollar (DXY) has also given us signs of a drop. So we will plan and wait for the perfect entry. 4H This is the first peak to reach here that consolidated, the previous two rejected and price collapsed. So as much as we are anticipating the fall, we still have a long possibility. 1H 151.92 we will see this as another level of sensitivity. Probably placing a high risk Sell Limit just to confirm our bias. 15Min Leave that trade idea, it's not real
by Mhangwane1
GJWe were triggered in our sell and stop out within a few minutes. So we must sit back and wait for a better trading opportunity. DAILY We fighting to go up and candlesticks are very bullish. We will possibly see a 193.00 touch 4H Support at 192.00, if we get a rejection here at 192.70 we could get a nice sell opportunity. 1H It's a bad trade idea, we have only one confluence, RR is not what we would go for and highly risky. Our aim is to trade with the lowest amount of risk. 15Min Stay watching
by Mhangwane1