Natgas, with my speedlines contracting I anticipate a slowdown in bearish momentum. Will wait for more price sessions and price to intersect either resistance or support lines before taking any trading decision.
Comment:
Bears is keeping the price within the down speedlines.
Comment:
Bearish momentum slowing down as we can see tight trading, however bears are still creeping the downtrend, making it extremely difficult to find clear entry points on this high timeframe. Trading a creeper trend is possible but often not feasible. You need to go to lower timeframe and see if you can find proper pullbacks or breakouts. Trade with close stop-loss and make sure to manage any open sell positions.
Comment:
After a period of downward movement, we've noticed a shift to bullish momentum as the trendline resistance is broken. But does this mean the bulls are completely in charge? Not necessarily. While there's been significant bullish activity after a long time, we lack a distinct swing high to confirm a higher high on this time scale. I'll stick to observing the 1-hour timeframe to search for higher highs, as signals on lower timeframes aren't as dependable compared to the 4-hour and 1-hour ones.
Comment:
Though we've noticed a slowdown in bearish activity, it's essential not to rush into buying. Take the time to thoroughly backtest your profitable strategies and exercise patience. Wait for a promising setup before executing any trades. Remember, successful trading is about making decisions that align with your unique trading style. Wishing you a rewarding week ahead