Natural Gas (XNGUSD) forum
NGAS nice bearish flag forming on the 4h again i expect this to keep falling. Possibly on the NY open, lets see. First TP 3.5 second TP 3.1.
NATURALGAS that weekly set up looked too bullish at the weekend. It looks like it finds support at 3.9 weekly 200MA and will now cover that weekly upper wick to touch ATH again. Let’s watch.
NATGAS 🚀 for long todayNATGAS 🚀 for short today
NGAS Making some bullish moves on H1
NATURALGAS another look at the move so far through a multi-timeframe setup. We have uptrend at 1d and 4h and downtrend at 1h and 15m. In an uptrend price is expected to break resistance, make a new high then pullback and retest near the previous broken resistance for a support. Here, the broken resistance which might be tested for support is the area 3.55-3.78 from the uptrend of the 4h chart.
In a downtrend price is expected to break support, make a new low then pullback and retest near the previous broken support for a resistance. Here, the broken support which might be tested for resistance is the area 4.0-4.08 from the downtrend of the 1h chart.
Therefore, for a long entry, I am WAITING until price reaches the 3.55-3.78 zone, and then consider buy if price bounces up with a bullish engulfing candle or double bottom pattern with strong momentum (bullish divergence) and volume - that will be my entry condition long - if it's not being met, I am simply not taking the trade.
For a short entry, I am WAITING until price reaches the 4.0-4.08 zone, and then consider sell if price gets rejected downwards with a bearish engulfing candle or a double top pattern with strong momentum (bearish divergence) and volume - that will be my entry condition short and I won't consider an entry if this condition is not being met.
Currently, price started retracing back to the 4.0-4.08 and got rejected multiple times, however there is 0 volume behind these moves which indicates this is simply retailers playing around while the market marker is lurking to take them out.
So to recap, wait for volume, wait for momentum, wait for rejection otherwise don't take the trade.
Good luck everyone!
NATURALGAS pullback near the 200 ema at 15m (white curve) then further downtrend most likely tomorrow.Confirmation criteria for downtrend continuation would be a clear rejection of the above dynamic resistance with a bearish engulfing candle or a double top and bearish divergence i.e as price tries to make higher highs, the oscillators 2nd and 3rd column make lower highs.
NATGAS We close our Short opened at market as our target of 4 has been hit.
NATURALGAS Natgas from $3.034 to $4.466 and now$ 4.466 to 3.Dont trust no inventories or weather forecast till we reach 3$ till next week or this week.
NATURALGAS This is good isnt it !