It is very good setup to buy on dip till upper trendline reach.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones to take entry with small stoploss.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
We have nice EQL in natural gas below that we have H1 Demand zone, though i have buy bias at H1 demand zone, we also have GAP below that demand zone which is need to be considered.
Look for LTF BOS before taking trade
Natural Gas shorting around CMP
SL above today opening.
TGT near trendline around 3 points - will update if needed
Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
Natural gas started to make the head and shoulders pattern on the daily timeframe. First of all, let's understand some basics about the head and shoulders pattern. Here, it's a bearish head and shoulders pattern. In this pattern, the trend starts with the uptrend and makes the left shoulder, head, and the right shoulder. And after the completion of the right...
Ascending triangle pattern is seen in NG (like in crude yesterday), this implies buyers are in control.
The price comfortably closed above the triangle's top (1.730 zone).
Buyers can push the price higher from here till next supply zone of 1.825 to 1.850. Post which they would take a breathe or rest - will be decided later.
As of now, its a temporary buy.
As we all know , NG is trading in H & S pattern from so many days. Now final shoulders downward moving wave is about to kiss the neckline of H & S. You can experience huge selling pressure in price movement. Since last 5 trading days , traders use each & every upward move to short. So price will surely touch neckline. We all should cautious, when price will...