NATURALGAS - Accumulation Is Nearly Over ❗

Apr 8, 2024

Pumping here and growing in strength out of this accumulative area ❗

I think at some point we will see a third and bearish wave, but it may just be a shallow one before this really gets moving on up.

Its currently in the retracement 0.618 Golden Window and so perhaps it happens here but it could also make a higher high.

Our deeper buys at the higher time frame 0.618 are looking great now 👍.



Nat Gas is heading Up Up Up 🚀

Apr 9, 2024

Note

NATURALGAS

The pump above the high has seen a whipsawing sell off liquidity trap to slump back down.

So now the third wave is more likely to be that of a bullish Running Flat Correction before the bull trend resumes.

The correction could also extend further into complexity...

But a 1:0.618 extension @$1.93 could be a useful place to top up if required 🤨.

Apr 11, 2024

Note

NG1

Natural Gas Futures has not been printing the same as the CFD and looking a bit more bearish.

Although there was a bullish Creek descending channel, that now appears to be within a higher time frame bearish ascending channel.

This is only on the Futures chart, on the CFD it looks much better.

Its had quite a slump today and if that continues then we may even see another wave back to the lows or even to hit support below.

This disparity is quite annoying because it is effectively doubling my work but obviously without double the reward.

But there's no two ways about it; today's price action has printed an engulf of the previous uptrend.

And that is potentially bearish.

This Futures chart is a bit all over the place here, but it looks a little dangerous in the short term.

Its fine so long as you are ready to buy the area if it goes deeper.

If it becomes corrective then this area may hold just fine 🤨.

Apr 16, 2024

Note

Nice pop today 🚀.

Sep 23, 2024

Trade active

NATURALGAS

Gap up 5% after a reasonable sized move up might be a clue that some sort of pull back is in the pipeline.

I'm not saying that the top is here, but we'll see if it starts becoming more corrective.

RSI is oversold on the day chart and that hasn't happened for a few weeks over the last few years.

If this prints bearish divergence then I may take some profit.

Because this chart has wild swings.

But for now I will hold.

Because I think this is a major uptrend underway 👍.

Sep 26, 2024

Trade closed: target reached

Partial profit taking*

NATURALGAS

I've decided to take profit 75% Natural Gas here.

It has begun to slump and this could be the start of a downtrend, or a distribution which later becomes a downtrend.

Either way, if correct then I have already taken the meat of the trend.

The main reason I am taking as much as 75% profit is that this chart is so very whippy and those nice profits I made on the way up could be lost in a downtrend.

I have decided to shorter term sell

1) Due to the wild whipsaws
2) Because if i'm wrong and it carries on up then there area boat load of other trades to take.

Notice that it has perfectly struck and slumped from the 1:0.618 Golden Window.

That is a weak ratio.

Notice that the third wave is quite an impulsive pop whereas the first wave is a shallower corrective ascent.

This combination looks like it could be a blow off top.

It might not be and could move higher...

But I think it may get back to re-test a moving average such as the 50 week MA or the red 200 day MA on the chart.

Also the day RSI has only been in overbought territory for a few short occasions over the last few years so that it has done so again here increases the chance that a significant top will arrive in this area.

So as I said, i'm taking 75% profit here. 25% I will just let it run with higher time frame consideration that my deep position was likely a market low.

If I miss the next wave up I will not chase but funnel into another asset in deep position 👍.

Sep 26, 2024

Trade closed: target reached

Up on the week chart, notice that it has hit the 100MA.

Then notice that this moving average has captured 2 major pivots in the passed.

This is another clue that it is time to take some profit 👍.