NG1! trade ideas
Natural gas fut CMP 183.6 Short for Target 182- 181- 179-177+ Natural gas fut CMP 183.6 Short for Target 182- 181- 179-177+
SL below 185.5
Natural gas fut CMP 184.6 buy for Target 186- 187- 188- 189+ SLNatural gas fut CMP 184.6 buy for Target 186- 187- 188- 189+
SL below 183.5
NG fut CMP 186.8 Short for Target 185.5- 184- 182.5- 181+ SL 18NG fut CMP 186.8 Short for Target 185.5- 184- 182.5- 181+
SL 189
NG fut buy @ 189- 190 levels for Target 191.5- 193- 194.5- 196+ NG fut buy @ 189- 190 levels for Target 191.5- 193- 194.5- 196+ SL below 188
NG fut buy @ 189- 190 levels for Target 191.5- 193- 194.5- 196+ NG fut buy @ 189- 190 levels for Target 191.5- 193- 194.5- 196+ SL below 188
MCX - Natural Gas Futures probable price movementPrice is showing reversal of trend at 4H time frame. It has made HH - HL to move upwards.
A further break of trendline may give further push to the price and the trend.
If the trend is confirmed, it may quickly move up to hit the next target as mentioned in the chart.
This analysis is purely based on the price movement of NG - Futures.
Note: 29/03/2021 is a holiday and the MCX exchange is open only in the evening. So this idea may not pan out immediately. Any further changes will be updated accordingly.
NG fut CMP 182.8 Short for Target 181- 180- 178-176+ SL above 1NG fut CMP 182.8 Short for Target 181- 180- 178-176+
SL above 184 candle closing basis
MCX Natural Gas Head and Shoulders Trading SetupMCX Natural gas has made head and shoulders patterns on the weekly timeframe. And the two shoulders are overlapping. Sell confirmation is line breakout.
Recently, it has broken 200 moving average. If it shows closing price below the neckline and 200 MA consecutively, NG will fall nonstop.
X and Y are the formation's size. Here is the value of x 100 and y 74. So, according to H&S formation, it can collapse up to 112 - 86 .
Hurdle: 196
Short-term targets: 170 - 168
Long-term targets: 146 - 136
Here are H&S, RSI, MA, and DMI throwing sell signals.
Elliot wave Analysis # Oil & Gas updateNATURALGAS APRIL FUTURES (LONG)
120 Mins Bar chart (log scale)
Bullish Sequence
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
