MNG1! trade ideas
Elliot wave Analysis # Bullish SequenceIn Technical Analysis, most of the analyst ignore Parallel channels
Parallel channel is most under rated tool in T.A., but as per my study its one of the best tool to apply while analyzing the instruments
# Parallel Channel Technique
MCX:NATURALGAS1!
Natural gas levels for 4-10-2020Hi,
Time frame- 30min for good trend decision and clarity of trade.
RSI is moving above 45 and will cross 50 soon
The level is decided on fib level and Ichimoku conversion and baseline, as per current trend the support has taken on previous dynamic level i.e. 179.5
also conversion line is showing upside and price is above blueline i.e. Conversion; closing above red i.e. Base line price can break cloud which is acting as resistance from several days can see good uptrend in upcoming days.
All analysis done on technical indicators and volume. kindly take is as learning.
Thanks for the reading my post.
natural gas positional buy @182-183 with SL 180 having strong support so buy positionally with SL 180
Natural gas forming head and shoulderShort naturak gas on brkout..taget given..out SL according to u
Natural Gas intrady tradeThe current support for Natural gas is 162.7. If the candel breaks the 162.7 and open new candel below that then it may go down few points.
sell range (162.6-162) Note: only when the candel opens below 162.7
stoploss (164-165)
Target (160-159)
Note: The Target which i Given is based on pivot and previous support & Resistance
This is only for educational purpose only
(Tradeing is Probability)
Natural Gas breakdownThis is How it looks now ...From 9 september to 18 th ....Almost 35 points fall .
