NatGas Update One more push upwards is still in the cards to finalise the expending traingle shape (in case it is a triangle).
NATURALGAS trade ideas
Volatile move to trendline rejection incoming?Will the 2005 high and 2008 high downward trendline (blue line) be touched (and rejected)? This month it would touch at around 2.15. Maybe a volatile move down and agressive bounce will push many players out of the market.
Potential Downtrend NATGAS
The natural gas market is currently experiencing a significant downtrend. As per technical indicators including Fibonacci retracements, Ichimoku cloud analysis, volume trends, MACD (Moving Average Convergence Divergence), and RSI (Relative Strength Index), the price of natural gas has declined notably.
Current levels indicate a potential sell opportunity with a suggested stop-loss (SL) set at 2.955 and a take-profit (TP) target at 2.730.
NATTY 15% Correction on the way?Natural Gas has recorded a negative bearish divergence on the 4hr which I believe is the sign of a correction to retest the green base below.
It had fired on all of it's cylinders yesterday which I believe was a dead cat bounce removing as many short sellers as possible.
Shorting this time of year usually means commission from your broker - mine is offering 3% of my total investment.
Natural Gas - Time to go Long as Pullback Looks CompleteNatural gas seems to have completed pull back. Price as broken past the descending trendline and now has climbed above recent support turned resistance layer. Awesome oscillator has too crossed over to bullish zone and we also see hidden divergence of Awesome Oscillator.
Natural Gas Rallying Again
Technicals :
Taking a second position in Natural Gas long
Reasons :
uHd
pb to support and retook the kijun
Daily cloud bulling
Wicked Daddy Deeper pullback squeeze
Price hit daily lower ADR and AWR and rallied
Weekly 5EMAs signal and 15/50 signal:
1hour lower time frame crown fakeout:
🤷♂️ SP500 UpdateOk, as it often happens given the extrem sell-off on the news I am falling back on one of my older scenarios where wave 2 has a more pronounced wave retracing at least 0.618 of wave 1. Other options are also possible (one indicated as a bigger contracting diagonal).
It might be a chance to short but a SL has to be managed carefully.
NATURUAL GAS Buy/LongAnalysis for NATURAL GAS on the daily direction has shown an upswing for a bullish trend that has respected the support levels. Since September 7th, 2023, we have seen a nice back and forth movement pattern that continues to respect the channels support range and resistance making this a prime target for us to be able to profit off on. Please enter with proper caution and capital risk management. Below is the signals inputs for the trading session. I hope you all enjoy.
NATRUAL GAS
Buy/Long
Entry: 3.2361
Stop Loss: 3.0203
Target:
TP: 3.9035
DAY TRADE/SWING TRADE
Risk: 2-5% of Capital
🤷♂️ NatGas Update Longer Term The bullish long-term trend can choose different paths. Of course many of us on the bull side would like it to go straight up. Unfortunately I already see indications of possible diagonal in the making which would be more difficult to trade.
One of those indications is an anemic wave 2 which can turn out to be wave as indicated in black.
As we travel along the chart I will be looking for cues which scenario we are in. Stay tuned.
🟢 NatGas UpdateNatural Gas is approaching a crunch moment. Because the price has taken the previous low labelled as wave a, the scenario with a even more expanded ABC flat is off the table. A more complex WXY is still possible where current ABC is wave W but less likely than a simple flat.
Also a scenario with a longer wave C remains but I would assign it a lower probability.
