NATGAS LONG After recent massive bearish rally , Market formed a double bottom on weekly with bullish div
seems like the price may go for another leg higher.
Entry 1.746
SL 1.510
TP1 1.990
TP2 2.226
NGSUSD trade ideas
NATURAL GAS - Important Breakout 🚀
Previously, The Natural Gas Formed a Bullish Falling Wedge Pattern.
On Monday 6 May The Price Broke The Resistance Level (1.973 - 1.893).
Currently, This Key Level is Broken and Becomes a New Support Level !
So, I Expect a Bullish Move 📈
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TARGET: 2.140🎯
25% Bullish Move for NATTY?Natty has reached the lows of Feb - 23 and has retested with some bullish intent.
There's also Bullish Divergence on various timeframes inc. Daily, 4hr, 2hr, 1hr as well as a Monthly on if it holds at these levels for a couple of months, from which we could see a major move up.
Taking the 0.618 fib levels as TP which also retest a previous support level.
Following this bullish move I expect at least a double bottom before going back up again.
Breakout from trendline. Upwards now 👊
Breakout from trendline. Upwards now 👊
We have mapped upside price targets in case the resistance lines are broken. If price gets rejected at the resistance line then price is expected to retrace back to the breakout point and then bounce back up
If it holds we have expect price to bounce towards upper resistance lines and ascending Fib price targets.
Are you buying?
NATYY Bullish H&S StructureQuite clear H&S shoulder pattern has developed on NATTY which began accumulating at the beginning of March of this year.
The green rectangle is the base of the massive accumulation zone which has acted as support previously, now turned resistance.
There's been 2 prior attempts at breaking through, on the third, it broke but wasn't able to hold.
The target is c15% increase in price and also takes us to the gap on 22nd Jan - this was calculated using the distance between the top and bottom of the cup.
GOOD LUCK!
NATGAS BuyNatgas is again approaching the usual support level around 1.613.
I think we can't go any lower than that, so it might be worth taking a long position.
The lowest possible can be 1,566.
NATURALGAS - Blow Off PhaseNATURALGAS
Pumping today but its coming out of a long ascending channel.
So this is wild and dangerous.
It has again pushed through resistance into the higher liquidity area.
At some point it will likely collapse either to a Golden Window retracement or lower low 👍.
Not shorting.
Not advice
Simple and cleanThe current chart pattern perfectly fitting under "Bear Flag". Let's see how it works out
NATURAL CallsLooks like Natural Gas is trending in a channel and just landed on the its support area. Theres a high probability the price will reverse from this area as its been consolidating there for quite some time now.
My view on NG I can see some downtrend after hitting below 1.900 good for shorts
and I can see some good upward movement after hitting 2.55 to 2.7 would be great range for longs
Above mentioned views for purely positional trades
NGas is BullishI am expecting a continuation according to HTF and a high propability of a bullish movement after mitigating the FVG .
Happy trading.
Natural Gas April 22, 2024: Waiting to Break Above the ResistancOn April 22, 2024, CAPITALCOM:NATURALGAS is trading below the resistance of 2.04 - 2.05 (yellow line) from Feb 6, 2024, with 3 bottoms forming as shown on the chart.
A break above this resistance would trigger a buy signal with the target around 2.45 as shown on the chart, the same distance to the resistance as the from first bottom.
Maturity of the bullish market, any correction pattern extends tEsteemed analysts and traders,
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Natural gas long viewThe price of gas is moving away from the previous bearish trend. January and February were extremely bearish. March was a month of consolidation, and April initiated a bullish consolidation supported by EMA20 and EMA50 daily. The price is currently at the $2.05 level, and before the next bullish run, a pullback to the $1.95 support zone is possible.
Natgas UpdateSeems like natural gas is ready to explode in 3rd of 3rd Elliottwave. Oil has similar sentiment despite being less obviously bullish. Natural Gas remains so far firmly on track and expected to rise with oil, perhaps on the Middle East escalation in the most nearest future.
Natural Gas - Lower Time Frame UTNatural Gas
Now showing bearish divergence on the 3 hour chart after a higher high shakeout.
That is very likely to be a Wyckoff UT UpThrust.
This signals that the current wave up is now more likely to be a connective wave and there will be another bearish wave to follow.
Perhaps it gets back to somewhere around the 0.618 are perhaps it will get all the way back to the previous support low @$3.362 and that would complete a flat pattern.
Both are probably about equal odds and we'll need to see more.
I have taken some profit in this area but will hold a small amount through the area for long term👍.
Not advice
Potential SHARK Harmonic pattern forming on Natural Gas📈 Keep an eye on Natural Gas! 🦈 Potential SHARK Harmonic pattern spotted 📉
This pattern, known for signalling trend reversals 🔄, is gaining attention as it shows distinct Fibonacci ratios and price swings. If confirmed, it could mean significant price movements ahead.
The pattern involves four key points: the initial impulse leg, a corrective retracement, an extension leg, and a final reversal leg. Traders are watching closely as price action approaches the projected reversal point 🎯. Confirmation of the pattern often comes with additional technical indicators aligning with the reversal signal.
In the Natural Gas market, factors like supply and demand dynamics, geopolitical events, and weather patterns play a crucial role. Traders are combining technical analysis with fundamental insights to assess the pattern's validity and potential outcomes 🌍💡.
Stay alert and keep your risk management strategies in check! Whether the pattern leads to a bullish 📈 or bearish 📉 reversal, traders with a keen eye on harmonic patterns and market dynamics will be ready to seize the opportunities 💼💰.
Natural Gas Technical AnalysisNatural Gas Technical Analysis
The price broke down from a minor structure support zone.
The first 4 hours candle closed red and looks a big candle, showing an increase in the bearish volume.
The first support will be found near 1.8670 and the second support near 1.8100
Don't forget that it is very risky trading NG due to the high speculation.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
It's a matter of WHEN it explodes; not IF Don't know how this plays out in the short-term... but it will explode soon (likely this spring or summer at the latest). If it does flush lower one last time, I'm looking at the $1.30 region... hitting UBER oversold on the quarterly, monthly and weekly charts.
NGAS Upside Risk on Supply-Demand DynamicsNatural Gas prices have been dropping over the past four months due to progress on renewable energy and hot weather being among the drivers. However, market could become tighter this year, with slower supply growth and an acceleration in demand, while key US drillers have slashed their 2024 outlook. Further Middle East hostilities after the Iranian hit on Israel, could affect traffic and push prices higher.
On the technical front, the rejection of the EMA200 (black line) 23.6% Fibonacci of the 2024 high/low slump, make it vulnerable to new multi-year lows (1.523-13). Improving supply-demand dynamics though, can support a recovery towards the 38.2%, to what is a difficult technical path.
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Natural Gas (NGAS) - WEEKLY FORECASTForecast: Start of Bullish Trend (Daily)
Invalidation Level: 1.580
Only buy when the price is close to these levels: 1.745; 2.026 (R/S);
My View on Natural Gas for next weekThis is my view for NG next week.
If the price breaks 1.9666 we can see some good upward movements.
if the price fails to break this level if any rejection (red pipe) we can see a price drop up to 1.83.
Circled one is good spot for any trades for the next week.
