🖕 NatGas Update Until there is some form of bounce and waves 1-2 of the new trend are shaped it is risky to call the bottom.
One option could be that the ugly diagonal was extended wave 1. A recent consolidation looks like a neat barrier triangle that usually happens in waves b, x or 4. It it is 4 that means wave 5 should be shorter than wave 3. If it is b we are charting something bigger and yet unclear.
NATGAS trade ideas
Time to buy gas?Here is a quick plan for Natural Gas. I will look more into this later.
I believe it's almost there but don't forget that you are looking at a monthly chart.
open.spotify.com
Natural Gas - Keylevels - DailyNatural Gas remains in a downward trend, we are getting closer to winter, and demand will increase.
Why doesn't the price increase more?
Or...why doesn't the price increase according to your expectations?
Simple..
The story of the war has calmed down and the FUD on prices has decreased and in addition to that, the main factor is that in several countries in EUROPE, the price of gas is capped, so that regardless of demand and supply, the price on the bill remains the same .
My opinion is that if this winter we see Natural Gas between 4-6 dollars, it would be advisable to mark our profits and wait for next year.
🟢 NatGas UpdateAfter such wild swings I have somewhat restored my confidence in the count where according to my analysis we are in the midst of correction, hence volatility and uncertainty.
Wave x is plotted in 2 scenarios - triangle and expanded flat. I would say that flat is the preferred one based on the sctructure of waves a and b that tempt me to label both of them as wxy.
In a triangle only one wave can be complex wxy or a nested triangle. Other waves must be simple abc zigzags.
Natural Gas - Big moves aheadNATGAS has been putting in consecutive higher highs for the better part of a month. This is indicative of a further move up as called over a month ago. Until this trend is broken we remain bullish and are looking to break the first resistance which should then lead us to 3.5$ very quickly.
BULLISH
NatGas Creeping BullisH !Hi friends, Sharing one day chart of Natural gas for my trading idea in it, As we can see that price is consolidated in parallel channel from many weeks and now trying to break channel resistance so if it will break resistance and if close above resistance we can see above marked target can arrive in coming sessions, Price has come here so far by making higher lows and now trading above from last swing high so we can assume it is starting of trend reversal in it One Triangle breakout already occurred inside in channel.
I don't think there is any need to write a long description because charts have their own language, you just have to understand it.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
🖕 NatGas Update The steepness of the rise made me construct another alternative. If the price starts consolidating we are likely to keep going up. Next few hours will show the way.
If the price makes a U turn in the next half an hour I will be tempted to short with a tight SL. Not advice.
Colour coding for reference
🟢 - green represents those in which I am reasonably confident (does not mean bullish).
🟡 - yellow, I can see a possible count, but ready to reconsider at any moment.
🖕 - just f..king around to find out (if Tradingview continues to ban them, I'll show another finger)
🟢 NatGas UpdateI believe we are on track with what I posted previously. At his moment I think the odds for near term (next two weeks) bearish case are rising.
I will give this idea a green label based on my growing confidence in the bigger picture which allows me expect only few combinations in the near term
Colour coding for reference
🟢 - green represents those in which I am reasonably confident (does not mean bullish).
🟡 - yellow, I can see a possible count, but ready to reconsider at any moment.
🖕 - just f..king around to find out (if Tradingview continues to ban them, I'll show another finger)
NatGas Trade - Bullish Med TermNat Gas could trade between $2.80 and $3.40 for a while, sideways trading is an easy environment to buy at support (Red Line) and sell at resistance (Green Line).
There is a Gap in the chart which could mean $4.50 would be the upper end of the target during the cold winter months if Gas supplies drop and demand rises, Purple Line. $5.00 would be a major zone of resistance, but possibly achievable this winter.