NaturalGas Possible Elliot wave counts (up than down & again up)Hello Friends, here we had shared possible Elliot wave counts of NaturalGas on weekly time frame to daily, 4hourly and hourly time frames which seems aligned with each other, so the conviction increases.
Well, on weekly time frame it seems that post impulse move, currently we are unfolding correction which is already at werge of completion, after A,B we are now in wave C, in which we had already done wave 1-2-3-4 of one lower degree, and now possibly we are unfolding wave 5th of C, and in wave 5th we had done wave i of lower degree and possibly we are unfolding wave ii of 5th of C, still wave iii, iv, and v are pending to complete wave 5th of wave C, which should not go below $ 1.529, because its an initial level of bigger degree wave ((1)) and as per wave principals, wave ((2)) should not retrace more than 100% of wave ((1)), so post completion of wave C we can assume that correction to be finish and hopefully fresh impulse up move should start towards north direction for long term.
Overall very soon we should start fresh impulse for long term along with invalidation level of $ 1.529
One can wait for dips to complete wave 5th of C of bigger wave ((2)) to grab an opportunities to find best entry to go long, so we should have to ride only in right direction because right direction is always more important and better then speed. I am not sebi registered analyst, My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
Possible wave counts on weekly chart
Possible wave counts on daily chart
Possible wave counts on 4 hourly chart
Possible wave counts on hourly chart
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Ng1!f
NG - Bullish NowPlease Read my commentary on Chart
Natural Gas - With Bullish COT repots, NG has now the potential to touch 4.4 in coming weeks and months. I will be looking for "Buying Opportunities" on 240/60 Mins TF
If Daily closes above 3.1 (On Friday, it just missed that) it will give additional strength to this view
Natural gas reversal zones 17-2-2023Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). Please understand that market can break all the support and resistance anytime. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk. #NG, #Naturalgas
NG1!2.198 at Level 1, 1.522 at Level 2.
Natural GAS still little fall can be excepted before to big move, very less chance to recover in this February month contracts, all call options may become zero again like December and January CALL options. So, the March futures contract is the best choice for long-term holdings.
Naturalgas reversal zones 30-1-2023Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). Please understand that market can break all the support and resistance anytime. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk. #NG, #Naturalgas
Natural Gas - long opportunityThe chart seems to suggest that there would be a potential breakout from the current position.
Best would be to wait for a confirmation at the close of the 4 hr timeframe.
MCX Natural Gas – Elliott Wave projectionNatural gas has completed the impulsive cycle at 801 and started collapsing to form the corrective process. In this corrective cycle, the price has accomplished the corrective wave B and started constructing wave C of normal zigzag correction.
There are two reversal points for natural gas:
1) Wave C can occur near wave (4)
2) wave C can accomplish its corrective cycle at 219.8 where wave A=C.
If the price sustains below the lower band of the channel, traders can expect the following targets: 288 – 275 – 267 . According to Elliott waves, correction can occur near wave (4) of the previous cycle. I already mentioned expected reversal points.
EWT – Is Natural Gas Prepared for a Reversal?In our previous article, we discussed impulsive wave C and its continuation. On 20 January 2023 , Price achieved our all given targets.
Click here -
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Timeframe :
MCX Natural gas has accomplished the corrective wave B and started falling for impulsive wave C. Price has given a reversal from previous wave C, but it is no conclusive evidence that it has completed wave c.
When it comes to confirmation, Traders should watch the level of 313 . If the price breaks out the 313 , it will enter into the parallel channel. Traders can buy for the following targets: 321 – 340 – 366 .
Don’t forget prices are moving outside the channel, which is a negative point for bull traders. Bearish continuation is possible if the price sustains below wave (4).
I will update further information soon.
NG - Better to Wait For NowNG still trading with a Bearish Bias, although the downmove seems exhausting. So better to tighten sell stops and avoind going Long for now.
Commentary on Charts
Possible reversal zones for Naturalgas 3-1-2023Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss.
(Color code for Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk.
Natural Gas : Once Again Big ShortAs you can see clearly, Natural Gas is going for Head & Shoulder Breakdown and can CRACK heavily
NATURAL GAS FUTURESNATURAL GAS FUTURES
An ascending triangle is a technical analysis chart pattern that occurs when the price of an asset fluctuates between a horizontal upper trendline and an upward-sloping lower trendline.
Natural Gas Trade Setup NATURAL GAS is now trading near 6.3 level which has acted as a strong support multiple times. The support has been highlighted in the Image in red circles.
If NG makes a rejection from 6.370 level and then gives a close above 6.840 we can initiate a BUY/LONG position with FIRST TARGET as 7.190, SECOND TARGET as 8.090 and THIRD TARGET as 9.630. STOPLOSS can be kept at 6.290. The Long position if initiated can give good R:R Ratio.
In other case if NG breaks the Key SUPPORT LEVEL OF 6.380 and manages to give a close below 6.210 we can look forward for SHORT side entry with a TARGET at 5.750. STOPLOSS can be kept at 6.600 .
( For the short side entry it is better to wait for a pullback or retracement).
Remaining Technical Analysis can be seen in the IMAGE
Natural Gas - Short term ViewHello,
This is a weekly chart of Natural Gas - on MCX.
Weekly Macd is above zero line.
Holding recent lows, cud trigger a good upside in NG in coming days/weeks.
Probable target is around 750. SL for the trade would be around 450/435.
CMP - 501.
It seems a disaster for european countries is on its way in coming weeks. if this stands true.
Natural Gas Intraday Buy Level [6th Ocotber]
Buy Natural Gas above the marked Line. SL 2-3 points, target 5-10 points.
Natural gas Buy and Sell Zone MarkedNatural gas Buying and Selling Zone Marked. Plane Long Trade When it touches the demand zone, and Plan Sell trade when it touches the supply Zone. MCX:NATURALGAS1!
NATURALGAS ELLIOT WAVE COUNTSNATURALGAS has almost completed wave B of wave 2, possibly next wave C is ready to start unfolding soon, which can be confirmed by breaking support trendline, which could be aa good trigger point, Once it breaks support trendline then it can slide towards south directions near $ 7.500 zones, where wave C can complete equality with wave A.
Negative divergence in both rsi and macd on hourly time frame
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Natural Gas buy on dips for the target of 9.525 any dip will be the buy opportunity and support will be treated as a stoploss as of now keep the position light
NG-NatGas Needs Some Caution now On UpsideNG now needs some caution on upside, but Momentum is still Solid on Upside. Read My Detail Commentary on Chart.
Naturalgas is almost near the upper trendlineNaturalgas was in uptrend previous week, and almost near its reversal zone.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
Natural gas level for 25-3-2022It 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.
