Clean breakout of the weekly trendline on NATGAS
Main items we can see on the chart:
a) The main idea here is to wait for the same pattern that happened on the previous 2 reversal movements and assume it will happen something similar now
b) The first item is a clear breakout of the descending structure. That, it's happening right now, this breakout will be enough to match with the previous scenarios
c) Second, we need a correction, the characteristics of it must be a duration between 2 to 4 weeks at least, if that happens the correction would be ready
d) If we have all the previous confirmations we will be prepared to trade, the target we will be aiming for is the monthly descending trendline
e) Remember that this type of trades are swing style and requires a lot of patience.
a) The main idea here is to wait for the same pattern that happened on the previous 2 reversal movements and assume it will happen something similar now
b) The first item is a clear breakout of the descending structure. That, it's happening right now, this breakout will be enough to match with the previous scenarios
c) Second, we need a correction, the characteristics of it must be a duration between 2 to 4 weeks at least, if that happens the correction would be ready
d) If we have all the previous confirmations we will be prepared to trade, the target we will be aiming for is the monthly descending trendline
e) Remember that this type of trades are swing style and requires a lot of patience.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.