NGSUSD trade ideas
NATURAL GAS-Pt.2- Short term bounce?In our previous post we explained how we believe that NaturalGas is ongoing an ABC correction from 9.995's top. Actually we believe to be finishing wave iii of C of this zig zag, as showed in the chart.
As explained in the previous post, we were waiting for the small red zone in chart between 2.4 and 2.5, where the algo tp of the whole move down and the level for which wave iii of C = 1.618 wave i of C, together with the target of the big head and shoulder pattern stand.
Since today we wicked that zone, we opened a long position at @2.471, and we are currently holding it with stop loss on entry.
Since the retail sentiment is still very extreme towards the long side and since this wave iii can still extend down, we are carefully posing our stop loss on entry. Target is 4.32. We will update below. Happy trading!
NATURAL GAS-Pt.1- Correction about to complete?Hello traders,
here is our view about natural gas.
As we can see from the monthly time frame, natgas completed an impulse after breaking a big descending triangle.
After reaching a top of 9.995, natgas created a head and shoulders pattern that coincided with a 535 structure to the downside, as showed in the main chart.
Then, wave 3 of C seems to be completed with an ending diagonal.
If the bullish macro count is in now we should go for another impulse up. Alternatively, we may get a (C) wave to complete
the monthly retracement higher than 10. In the latter case to move to 9.995 would only be a (A) cycle correction of the descent from 2005 high of 16.477.
In both cases, we expect a big buying opportunity coming soon in natural gas.
We are not taking long positions now for wave iv of C since sentiment in retail brokers is over 90% long.
When ALL the retailers are buying, who is selling to them? Who is gonna buy to actually put upward pressure on price?
This is why extreme sentiment is a contrary indicator.
We will update as soon as we see a long setup.
Looking for good r/r in NatGasTrade Idea: Buying Natgas
Reasoning: Price action posted a new low yesterday, however afternoon price action reacted higher forming a bullish hammer candle on the daily chart. The overnight pullback has stalled and reacted higher at the Ichimoku cloud base. Buying offers great risk/reward after a monster selloff.
Entry Level: 2.862
Take Profit Level: 3.20
Stop Loss: 2.74
Risk/Reward: 2.7:1
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NATURAL Price hit the monthly support. A bounce on way.Price hit the monthly support. There will be good bounce from here at least to the level marked as first resistance. There will be a pullback there before deciding the further course of price action.
Long entry set up on Natural GasWhile natural gas has sold off in dramatic fashion over the last couple of months, a swing trade presents itself with a great entry at support.
Since entering an upward sloping wedge in July 2020, Natural gas has completed a 5 stage Eliot wave in typical fashion, an ABC correction and now potentially in a corrective 1 -5 Eliot wave move having lost the wedge trend.
The asset is in oversold territory with the RSI falling below the 30 level on the weekly, selling volume profile at peak levels in weeks but stalling on the $2.6 level which acted as resistance in Sep, 2019 and support more recently in April, 2021.
Anticipating a level 4 Elliot wave form with a technical target of $3.5 , potentially a 31% upside .
Ref :
CAPITALCOM:NATURALGAS
LONG call on Natural GasHi All,
Natural Gas had a really harsh retracement in recent weeks.
It is currently oversold on all indicators. Already completed an ABC corrective move.
Perfect entry would be 2.5 $ but we can start dca even from current levels.
TP2 : 7 $
TP1 : 5.25 $
SL : 1.9 $
Risk/Reward : 7.5
Good luck & have fun :)
$Natgas $UNG $BOIL $KOLD Analysis, Key levels, and Targets $Natgas $UNG $BOIL $KOLD Analysis, Key levels, and Targets
Holy Moly…. I’ve been out of natgas for a minute… but at this level I’m going to start accumulating…. Let’s see how we open but I will likely be buying April 21 8 or 9 calls in the morning….
Supported by 5 year volume…
Naturalgas becoming attractive wait for setup LongNaturalgas looks like good play.
Its dropped alot, and is stretched far from avrages for weekly, monthly, daily.
It looks like its finding support and winter is not over in europe or the US.
I will look for a setup and enter next week. You can play UNG to take advantage of the opportunity.
NATGAS - KOGHere we are, just as we wanted, the lower support has been hit and we have a short term support. We need this to push up now....We're in!!
As always, trade safe.
KOG
natural gas at it's historical low, back to 2012Besides the initial fallout of the pandemic, natural gas has never been so cheap against USD-M2 -- Buy when cheap ✔
WHEN it moves, it'll be big, waiting for confirmation
It could drop lower in the very short-term, and after that... balloons
BEWARE THE BEAST
NATURAL GAS: BEARLISH!#NATURALGAS #ShaneElliottWave
NATURAL GAS || 1D Chart analysis || Main wave count || 29 Jan, 2023 (UTC+7)
Hello traders,
That's my wave count for: NATURAL GAS
Timeframe Analysis: 1D
Expect Main Elliott Mode: Corrective
Expect Main Structure: Zigzag
Position: Third wave (black- intermediate degree)
Bullish Bet on Natural GasOversold on multiple time frames (daily, weekly). Bullish MACD divergence, waiting on a follow through. Two daily Hammer candles indicate dip buying. Gaps at 4.398, 6.416.
On the fundamentals side, Freeport LNG has started the re-opening process. I expect a sharp rise in Natural Gas price as it gets closer to fully operational as there's big discrepancy between spot prices in the US and the EU/Asia. Other US export terminals are planned for later this year (Alaska, etc..).
Cold weather in most of the US should increase storage withdraw, though it remains unclear if cold front will persist deeper into February.
See also $HNU, $BOIL, $UNG.
Natural GasCURRENCYCOM:NATURALGAS
Long Setup
Price crosses above, retest and close above 2.974.
Look for long trade setup to 3.648
Short Setup
Price trades down below 2.655
Crosses down, retest and continues downward.
Look for short trade setup to 1.893
Note: This is not a financial advice.
Natural gas retrace to 5$My pervious short thesis turned out to be right. The price dropped basically on political brute-force and I believe it still has another one leg up.
A calculated long position with a stop loss worth's the risk. I am going for a long position and will close below the major obvious resistance
US Natural Gas USDNTGI entered long position at 2.73
Freeport LNG is going to open soon after months of being offline. Export of US LNG to EU will resume which will lower EU prices and rise USA prices.
NATGAS - KOGIf this continues going down we'll be waiting below to test that level!
If you're not used to trading this be very cautious.
As always, trade safe.
Long on Natural Gas Natural Gas has been hammered over the last couple of weeks and It's about time it took a turn to fill in the gaps; beginning with the most recent one yet to be filled.
Strong positive RSI divergence on the daily, alongside oversold hourly, weekly and monthly RSI.
It's still freezing cold with many winter storms across the USA so I can't see Natural Gas being sold for much longer.
What are your thoughts?
second chart is a charm... NG bounce or another free fallSeems like Germany bought at whatever price the Gas was, hence the previous rally, and preparing soon to rebuy (it is still cold in here).
If the 786 fib is not the bottom, i will let this one go and possibly revisit it if my SL gets hit again 2635. ~ DYOR.
note... DXY might also have to wake the hell up (similar trend on both).
