Natural Gas will rally, at least a little bit! 5-15% min.
Economic Reasons:
- Natural Gas Nord Stream Sabotage
- Hurricane heading to US
Reasons for a trend reversal:
- Price is heading for a macro uptrend
- Key zone of support and liquidity
- 0.786 retracement from Aug. highs and Sept. lows ($6.33)
- Almost over sold on RSI and MACD on the daily chart. (it is over sold on lower timeframes)
- Bullish divergence on the RSI and MACD for the 4 hr. chart.
Take Profits:
$7.12 (Highest Probability) -- 12% profit
$7.45 -- 17.6% Profit
$8.11 -- 27.6% Profit
$8.60 (Most Likely Top) -- 36% Profit
$9.22 -- 46% Profit
Bearish after rally:
- Completion of the right shoulder of a head and shoulders pattern.
- Break neckline and return to $3.5-4.5's
- Natural Gas Nord Stream Sabotage
- Hurricane heading to US
Reasons for a trend reversal:
- Price is heading for a macro uptrend
- Key zone of support and liquidity
- 0.786 retracement from Aug. highs and Sept. lows ($6.33)
- Almost over sold on RSI and MACD on the daily chart. (it is over sold on lower timeframes)
- Bullish divergence on the RSI and MACD for the 4 hr. chart.
Take Profits:
$7.12 (Highest Probability) -- 12% profit
$7.45 -- 17.6% Profit
$8.11 -- 27.6% Profit
$8.60 (Most Likely Top) -- 36% Profit
$9.22 -- 46% Profit
Bearish after rally:
- Completion of the right shoulder of a head and shoulders pattern.
- Break neckline and return to $3.5-4.5's
Comment:
Entered this trade at the lows of today, plan to add at the trendline. Nat Gas gets front run a lot so that's why I have already start buying.
Comment:
Looking to add more down here. The rally is around the corner! Use proper risk management.
Comment:
Also just realized that we have a 7 week time count to the downside which is also a indication of a reversal.
Comment:
wowza NG is getting wrecked! made some money on this trade happy to be out and profitable!