Elliot wave Analysis # Oil & Gas updateNATURALGAS APRIL FUTURES (LONG)
120 Mins Bar chart (log scale)
Bullish Sequence
GNM1! trade ideas
Natural Gas - LongBuy Natural Gas above 186.3
Target 192.2
Stoploss : 183.5
Rationale for the trade :
1. Double bottom in 4 hour timeframe
2. Breakout of trendline in 4 hour time frame
3. Rejection from important trendline in daily timeframe.
Natural Gas Futures - ShortThis 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.
natural gas forming head and shoulder natural gas forming head and shoulder pattern in daily chart .....this is only for educational purpose
Descending Triangle pattern in Natural Gas FuturesThis is a trend based analysis of Natural Gas Futures. NG price is looking bearish on MLY, WLY, DLY and 4H time frames. Further, a Descending Triangle pattern is emerging further confirming the Bearish bias. For the near term future, going short looks more profitable.
Indicators Used:
21 EMA & 55 EMA for identifying EMA crossover.
Trend lines at different timeframes.
Support - Resistance levels at different timeframes.
Disclaimer: This is shared as an idea and not a recommendation. It is a guesstimate of what the price may be down the line. 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.
Natural gas fut CMP 193.5 buy above 195.5 (15 min candle closingNatural gas fut CMP 193.5 buy above 195.5 (15 min candle closing basis) for Target 198- 200- 202-205+
Sl below 192
Natural Gas ShortEntry: around CMP(198.8) - I will add one more lot at 199.1-199.2
SL: 200
TGT: 195.5
NATURALGASGo long if it resist above 195.
go short if it break 194 ,which is best support of uptrend .
#naturalgas #commodities #mcx natural gas long as per trade setup for swing trade stop loss current swing low.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
Dont miss opportunity in Natural GAs (Bullish Bat) Buy zone 205-06
Target 220
Stop 200
Thanks
Jigar Pateel
8898030401
How to trade a Descending Triangle Pattern ?Tools Used :
VWAP
Stochastic RSI
Strategy :
1. Look for RSI crossovers (when the blue line crosses the red line either way), in the overbought / oversold zone in particular.
2. For even safer entries, wait for the price to cross the VWAP.
3. Try to buy and sell on or near the lower and upper extremes of the pattern.
4. Look for reversal signals when approaching the extremes, backed by RSI crossovers, e.g., pin bar, or spinning top, or bearish/bullish engulfing, or a doji.
Hope it will be useful.
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