NATGASUSD trade ideas
Natural Gas Looking good to go longNatural Gas is looking good to go long as per wave structures suggesting impulse to unfold, with invalidation levels of $ 6.725.
RK's mass psychological cloud is also suggesting positive ahead, along with macd positive support.
Natural gas had given trendline breakout along with good intensity of volumes on hourly chart.
After positive divergence, breakout with good intensity of volume
Overall wave counts
Double positive Divergences
MACD in hourly positive and now above zero line
MACD in 4 hourly positive crossover and uptick.
RSI in hourly above 60.
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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 Bearish Rally no bullish for upcoming weeks Bullish not for few weeks waiting next month after 3rd or 4th week ,, we can see only bearish trend ... even crude also
Natural Gas Retraced near 61.8% !!!!A bearish Harmonic chart presented for the study purpose.
The chart gives the retraced picture.
Reached very near to the Golden ratio.
To show the accuracy of the chart
Triangle Pattern in NGA symmetrical triangle pattern formed in Natural gas
Both side levels are given for the price movements
Green shows upside
Red shows downside
NaturalGas Pull-back is to start as per Elliot Wave AnalysisAfter sharp fall from top of the wave 5 or we can say top of June month, it has fallen in five subdivided pattern as a wave A, which clearly shows that correction is in zigzag pattern, we all know some basic rules for zig-zag correction, that it comes in three subdivisions like A-B-C, and wave A always subdivides into an impulse or leading diagonal, and wave B always subdivides into a zigzag, flat, triangle or combinations, so here we are assuming that wave A has almost at the wedge of completion, and possibly wave B his ready to start as a A-B-C towards north directions, which can lead towards 61.8% of recent fall (wave A), which is near $7.571 or more towards $7.976, on the way down $5.30 is a support area to watchout for. However, pullback will just be a counter trend rally and once wave B rally is completed, then wave C will unfold, and decline of wave C should probably be equal to wave A.
Overall scenario
Sub divisions in wave A
Fibonacci retracement levels
Trigger point
Can be like this as per rules
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 Analysis: Commodity TradingNatural Gas go hand in hand both in international market as well as Indian market. Here we present natural gas Elliott Wave Analysis. It is showing a 5 wave decline as wave A and again will go up for a three wave B, then again come down in a C wave.
You can correlate this chart with MCX Natural gas. Both are the same. Hope it will enlighten your commodity trading.
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xng usd shortaccording to ellotie wave theory it willmakehigherhigh 5 now according to my entry i will go to correction abc now we made pips in berrrish trend for now . hit a like
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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
💡NGAS (NAT.GAS) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 5.194, resumption of uptrend is expected.
We make sure when the resistance at 8.176 breaks.
If the support at 5.194 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 6.485 on 04/25/2022, so more gains to resistance(s) 7.458 and maximum to Major Resistance (8.176) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 61.
Supports and Resistances:
8.827
8.176
7.458
6.520
5.835
5.194
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NATURAL GAS LOOKING GOOD IN 4HR TIME FRAMENatural gas is looking bullish
REASONS
1. Recently given a breakout of its flag and pole pattern.
2. Breakout of an inverted head and shoulder pattern.
Reasons for the target and stop-loss
1. the high of this commodity has been taken as a target as per the rules of the pattern.
2. volume profile is also supporting this commodity and also the 50ema.
3. so with the support of both indicators stop loss had been set.
Natgas analysis Natgas has been very bullish for a while however now we have some bearish indication on chart,It can fall till 6.372 in coming days
US NATURAL GAs XNGUSDEveryrise use to sell targe 5.5 to 2.5,, clear cut its sell safe trader can sell after weekly red candle,, strictly avoid long position if have so book as ap
NATURAL GASBREAK DOWN OF NAT GAS
Wait till the closure of the candle below the Blue line
manage risk
LONG VIEW ON NATURAL GASDear Buddies!!!!!
My view on NG is Bullish
Following is my study
1. My Time Frame is Hourly Basis
2. Price Action: Morning Star is Printed on a Long Term Support
3. Stochastic Just Gave a Positive Cross Over
4. My Setup is : Fake Break Down and Failed Bollinger Band Challenge
5. 5 EMA gave Positive Cross over to 13 EMA
6. Elliot Wave: My opinion is Wave C just ended and Wave 1 started with a bullish divergences clearly visible before start of Wave 1
7. One can be Bullish by making their stop loss below low of evening star upto targets till next major resistance
Alert:
I am Novice to the Market and at learning stage, this is just my opinion one must get ready for "what if analysis" and should accept the stop loss with full heart in case study goes wrong.
