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Natural Gas Futures - Short

Short
MCX:NATURALGAS1!   NATURAL GAS FUTURES
This is a trend based analysis of Natural Gas Futures . Immediate price trend is down. It is currently in the strong WLY S-R area. If it cracks this, price will fall further.

Price has fallen following the descending triangle pattern and is following the trend.

Indicators Used:

Trend lines at different timeframes.

Support - Resistance levels at different timeframes.

Gann Box to determine possible short term trend changes for intraday trades.

Disclaimer: This is shared as an idea and not a recommendation. It is a guesstimate of price movement along the trend. Please use this for your further analysis and based on your own analysis and risk management initiate trades accordingly. I'm posting this as a means to further improve my knowledge and receive further knowledge from others.
Trade active: As long as there is no trend break out, the price may continue downward.
Price tried breaking out but has fallen down. Hence keeping the idea active.
Trade closed manually: Price has breached the trend line and closed above it successfully. The idea is thus closed.

Comments

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