natural gas levelsBuy Above: 214.00
T1: 219.09
T2: 224.05
T3: 225.92
SL: 209.33
Sell Below: 209.33
T1: 204.54
T2: 199.80
T3: 198.03
SL: 214.18
IGA1! trade ideas
NGAS - SHORT SCENARIOLast week, fuel inventories in storage rose by 95 billion cubic feet (bcf), surpassing analyst forecasts. Gas futures initially dropped but rebounded by the end of the week. The market expects increased cooling demand in the coming weeks as summer temperatures rise. Gas futures on the Henry Hub are heading for their best month since August. However, the storage build exceeded last year's levels and the five-year average. Total gas in underground storage in the US is significantly higher than last year and the five-year average.
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NATURAL GAS: Short term Sell opportunityNatural Gas got supported on the 4H MA50 yesterday but the rebound seems to be running out of steam. The R1 at 2.697 is so far a Double Top and as the 4H RSI is forming the same bearish pattern as in late May while the 1D technicals are losing strength (RSI = 59.608, MACD = 0.079, ADX = 32.120), we are shorting NG targeting the HL trendline (TP = 2.300).
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NATURAL GAS FUTURES Chart Fibonacci Analysis 060523 Trading idea - Entry point > 7.5/61.80%
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 2.4/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
Decision day for NGSince NG land on VAH of last bigger sell and additional on a nice loaded value loaded M30 candle we may see a rotation day as fight between sellers and buyers.
However if buy will show strength and lift above 2.50 we may see some run up.
Sell must push below 2.49
so waiting to see the action.
on fundamentals: still some work on LNG terminals in USA, a bit colder weather in TX, hot in Europ, still works on Norway
NATGAS Bearish Correction! Sell!
Hello,Traders!
NATGAS was trading in an
Uptrend but then hit a strong
Horizontal resistance of 2.683$
While trading in a bearish wedge
Pattern from where the
Price made a nice bearish
Breakout so I think that
Natgas will go down
Sell!
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Check out other forecasts below too!
NG further up with a possible rotation NG is pushing further up. Friday a normal day with some P volume type indication due to open rejection reverse cash session.
NG is in area of single prints built in May (see link below)
We are close to a volume loaded level of 2.693 so we may see fight between sellers, who pressed below buy VPOC and buyers who would like to be back above it.
So next day or days will show if sellers are still there and if they have enough power left.
why not a scenario to open with a gap up to around 2.693 :)
app.screencast.com
NG close to 2.7 area where we may see sellers quitting positions. So 3 ideas for trade:
1. just StopLos covering and this will be with a fire above 2.7 and in case of no continuation we get sell down
2. Liquidation of stops above 2.7 in fast way or with some rotation but in that case we should keep 2.693
3. rotation in range 2.565 to 2.636
Neutral: Bearish continuation or Bullish reversal:Descending TriThe last four trading days saw gas closing lower after attempting to breakout(see prior post) and in so doing, filled the gap created on the 17th of April. I am still long on this and have not closed my swing trade.
Technicals:
chart: A potential descending triangle is forming.
Volume: Massive build up on volume over the last few weeks.
RSI: ...
Whether this will end up being a bearish continuation or be a bullish reversal is a story worth watching.
What ever direction this takes, it will explode.
Disclaimer: Not financial advise.
Bullish Setup in Range-bound MarketNatural gas has been moving within a range, and currently, we are at the lower part of the range.
We are patiently waiting for a shift in market structure (creating a HH). This would indicate a potential upward movement within the range.
Entry Point:
We plan to enter a trade on a pullback (LH) utilizing the (weekly FVG) with the trendline acting as a support.
Target:
Our target is set at the upper end of the range, with tp1 at 50% of the range.
NFA
NG on bust possible to close old gap at 3.00 quite possible in mNG did a nice move not just from technical point of view covering some low value areas but was pushed by:
1. warm weather USA and parts of Europe
2. Nederland closing one of biggest NG field
3. Some maintenance work of gas pipe lines in Norway (for June time)
4. some work on LNG terminals in USA
Gas in Europe jumped as well and this may give push for further moves for the NG
NG has tendence to do a sell after such a jump of 9% after some small up days. So if this time we see a pull back to 2.52 and bid coming back it may be a game changer for next days.
Since NG enters some low value areas ( and single/poor TPOs, sell from 2.8) don't mind we may close gap around 3.oo
below ling to TPOs and foot print chart (here by the way we had 4 M30 blocks with some nice bid so who load there, would for sure try to push price up to distribute this). Hope it works
app.screencast.com
Nat Gas may get bubblyAfter a bottoming process and a reset of the rsi, a surge up is possible here. Nat gas is also at structural support which usually reacts with price in a positive or negative way. Holding here and not getting below 2 dollars would be very positive. If correct, the target is about $3.50
Further possible Long trend in NGlatest move due to weather in TX in USA. Hot time for Europe comas well so this may increase need for NG
yesterday P day profile show some liquidation of long positions, so today all about keeping the VPOC of yesterday and there is more and more bad high building 2.370
But it is too obvious for NG, and NG likes to screw such trades before they work out.
i do not know why, volume profiles are not shown in picture hmmm
NATGAS - all quiet in the westAfter a warm winter, now we wait for the summer season and ACs on. Moreover, for the time being EU has full gas storages - often from Russia yet, which will be used and then must be replaced. How will it affect the US prices? Many hope for a rally similar to what we saw a year ago. Perhaps they are right, however for the time being - all quiet in the west.
A long trade in NG possible if we stay bid 2.305Last 2 days had a nice pull down poor value areas, so looks like folks was force to sell or there were nice traps for short sellers.
Now NG sits on VAH of last long consolidation and there is notr much will to sell 2.305. They try but each time going back to 2.305
targets 2.375 as next one
Above 2.4 we should get acceleration this move.
NATURAL GAS Buy signal unless this Higher Lows line breaks.Natural Gas (NG1!) is trading inside a Bullish Megaphone that has just priced its new Higher Low. The price is above the 1D MA50 (blue trend-line) and has started the new leg to a Higher High. Before that however, it has several Resistance levels to overcome, namely the 2.690 Resistance and before that the Lower Highs trend-line. As a result we are buyers but set a target below that level at 2.550. If instead the price closes a 1D candle below the bottom (Higher Lows trend-line) of the Megaphone, we will sell and target the 1.950 Support.
It is worth mentioning the 1D RSI that has been trading on Higher Lows since February 03, an early Bullish Divergence signal against the downtrend's Lower Lows for the price. This momentum continues to favor buying on the medium-term.
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