Since 06-OCt Natural Gas is in a corrective move and is forming a Flat In Black ((A)) ((B)) ((C)).
It seems in formation of Last leg (5) Blue down as indicated in chart this will complete correction and one can look for BUYING opportunity for long term.
However to encash the smaller move in Wave (5) blue we have initiated a sell position with stop loss @ 4.045 in international market. MCX will follow same trend and corresponding trade can be initiated in MCX.
And after completion of Wave (5) in Blue we will be entering for a Long position for Higher Targets
Disclaimer:
These are personal views for academic purpose , if anyone wants to trade please access your risk and consult with your financial advisor
It seems in formation of Last leg (5) Blue down as indicated in chart this will complete correction and one can look for BUYING opportunity for long term.
However to encash the smaller move in Wave (5) blue we have initiated a sell position with stop loss @ 4.045 in international market. MCX will follow same trend and corresponding trade can be initiated in MCX.
And after completion of Wave (5) in Blue we will be entering for a Long position for Higher Targets
Disclaimer:
These are personal views for academic purpose , if anyone wants to trade please access your risk and consult with your financial advisor
Trade closed: stop reached:
Stop loss HIT in Natural GAS for our selling position
Comment:
Since we initiated sell position Natural GAS made Downside of almost 45 Points 15% down one can book Partial profit and make his position Risk Free.
We are expecting Still further downside, before that we may have a small bounce which can again be sold.
We are expecting Still further downside, before that we may have a small bounce which can again be sold.
Again a New Selling can be initiated in Natural Gas for shorter term cycle so as to get Wave (5) in Blue