NGAS
Risk/Reward = 14 Wait for pullback in 2.27-1.935 area and buy
Many thanks to Elliottician expert Arkady at www.elliottwavetrader.net for his assistance with this NG count. See my earlier ideas on UNG or NGN2016 for different time frames.
...but first, the pullback to the A/R & U-MLH. P! Learn To Earn: mytradingcoach.teachable.com
I expect a big UP for QEC. Quebec is approving fracking again Nat Gas prices up too
Not an asset I would recommend to trade given it's highly volatile nature, but I find this chart interesting. Last Friday's high (27/05/16) allows us to establish a trend line starting from February 2014's highs. Hard to say what might happen here, but if prices break above this trendline (resistance at $2.19) sometime in the next week or so, we'd probably see a...
Buy NG1! for bounce off trend line support and potential break out of wedge.
I'm still long on $chk and got shares under $5. The channel remains in tact, gaps appear to be filled. There has been 2 successful breaches on the money flow index, that gave rise to share prices prior to the decline. Imo, we were due for a decline. I will post another chart showing a green cloud on the 3hr chart which is starting to act as support
There appears to be an error on this chart for 26th April data. On the natural gas futures chart, a well formed Head and Shoulders pattern since 20th April I'm looking to short with an initial 40 point target. Stops above today's upwards spike after the FOMC announcement (on this chart it is 2160)
NAT GAS IS APPROACHING SYNERGY.... WATCH THE FUTURES PRICE OF 1.57- 1.40
Chart shows daily reversal candles inside of bull flag PT 2.27
Excellent asymmetric risk/reward opportunity here.
FUNDAMENTALS: • WEATHER. The latest weather forecasts look more bearish than they did on Friday. Sunday EC12z and GFS12z runs look warmer than they did on Friday, but deviation from norm still has a bullish inclination. Positive equatorial sea surface temperature anomalies continue across most of the Pacific Ocean. A strong El Niño is expected to gradually weaken...
#SPY #QQQ #IWM #DIA avg. vs.#NG_F #CL_F avg. Note divergence and trend flow. Cycle 'revergence' initiating.