NG (MCX): Week of - 06/02/2023Levels:
Support: 150, 120
Resistance: 250, 290, 310, 330
OI Data (21st Feb Expiry):
Nearest Major Resistance in Crude per OI data: 220
Nearest Major Support in Crude per IO data: 200
NG1! trade ideas
[MCX] Natural Gas Mean ReversionInvesting in Natural Gas as it is approaching the Mean line again. This is an aggressive bet and does not constitute stop loss like last time as shared in
Because the trade has not triggered buy in the laws of price action at all.
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
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Natural Gas Elliott Wave CountNG can bottom around 3.55 (Wave 4 low)-3.27 (78% fall of previous impulse)
Natural Gas Analysisnatural gas can move either side as per price action. if rejection faced by trendline can test 220 levels
if gives breakout can test 237-240 levels
Is 220 coming in Natural Gas???Natural gas is posed to join the downward channel from highs. With a breakdowndown of H&S pattern, the NG can plunge to almost level of 220, which should act as strong support to take back the price to 500 levels.
Buy above 375 if it breaks. Sell below 375 level for one and only target 220.
Next only Buy level is 220.
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 month and beyond ideathis is one of my older chart still believes in levels
if price reaches below level updated chart will follow
we see 314 ++ in NGexpecting that in the coming days we will see 314++ in NG
place SL below 225
let's see if it works...
Natural gas reversal zones 27-1-2023Note: 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.
Naturalgas reversal zones - 23-1-2023Note: 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 GasNatural Gas
Reversal at 300 levels
Downtrend Reversal observed
Near 20 and 50 EMA crossover
Resistance level - 318, 350, 400
Final Target of 400
SL - 300
This chart is only for educational purpose
NATURALGAS - Testing 6 years long Support zoneNATURALGAS is bouncing from its long term support zone of 265. On the daily TF, it is forming bullish candle and provide a healthy RR setup.
This is positional setup with entry at current level 270, SL as 250 & targets of 290, 300, 320
Thanks
Piyush Gupta
Learn & Earn
Natural gas might go upNatural gas is in the support zone of 359-350 which is 0.786 retrace aswell
This is my view please make own analysis and trade safe.
Natural GasNatural Gas
The Symmetrical Triangle Pattern
Price range is 43 points for pattern either side.
Resistance is 307.70.
Upside target is 350.70.
Support is 295.30.
Downside target is 252.30.
Natural gas bullish divergence buy trade set upNatural gas is formed a bullish divergence and it is now bouncing up after forming selling climax on the hourly time frame. The commodity has the next resistance at 289 and that makes it at around 15 points on the upside as the target which will be the first target, there is every chance that the commodity could continue to rally a lot higher if it takes out that particular resistance.
Not investment advice.
Naturalgas reversal zones 18-1-2023Note: 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 ). 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
Happy pongal to all Please follow the previous charts shared on 10-1-2023 for today. #Nifty same, #Banknifty same, #naturalgas same, #crudeoil also same chart
XNGUSD ANALYSISTHE NEXT LEVEL MUST BE ON UPSIDE. AS ITS DOWN MORE THAN 56% in last couple of month. So, Market must be bullish. 56-60 % down fall is very big Moment. As its takes support at given diagram 2 times. Buyers are very bullish from that particular point. It will come again at 10 dollars in mid of 2023.
1) In 4hr chart pattern hammer is at down side. ( this hammer does not have upper wick.)
2) 1 1hr chart hammer and dozi candle is there. Its giving reversal Sign.
3) In Monthly Candle, It made Marubuzu candle and at very strong support.
NATURAL GASNatural Gas.
Bullish Butterfly Expected.
Resistance 303.90.
Support 292, 286, 280, 275.
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