NG1! trade ideas
Natural Gas Important levels to watch! Natural Gas important levels to watch are as follows
#Support: 266.1
Sell below: 266 only on 15 minute candle closure below the level.
Target 1: 263
Target 2: 259
#Resistance: 270
Buy Above: 270 only on 15 minute candle closure Above the level.
Target 1: 272.5
Target 2: 276.5
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
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Natural Gas- Live How to play Gaps
Gaps play a role of very heavy support or resistance. Please check the gap marked on the chart.
How they Act:
1. If they are naked i.e. no candle has been formed you in front of them. They are very strong.
2. If gaps have been filled up, means candles have been formed in front of them, then more the candles formed in front of them, weaker they become.
Now let us understand with example: Say price last day was 200 and next day it opens at 205 leaving the gap unfilled price progresses further up leaving the gap unaddressed. Usually it happen when there is strong momentum specifically when it is the third wave price usually leaves the gaps.
Now, there could be some person waiting to buy at the last days price but price has gone up without giving them the opportunity to buy. So, they may wait for price to come back to that level and buy. That is why it works as a strong support. Reverse is also true in the case of downward movement.
Smart traders earn a lot of money due to these gaps. Please check and mark the gaps as the first thing while analyzing a chart. They give money more that any thing else. Now check this gap live on the chart of Natural Gas.
Thank you.
possible flag breakout in natural gas Pretty simple chart which shows the flag pattern being formed in the natural gas. It is just breaking out. Looks like there is a lot more to come in this commodity. This is also after forming an inclined head and shoulder reversal on the hourly timeframe. Makes it a high probability setup to trade.