Inverse Head & Shoulders - Super Bullish
Hello friends, it has been a while since I uploaded new ideas on Natural Gas (NG) as I was waiting for the pattern to develop over the past few weeks. As illustrated in the chart, the downtrend line got broken and retested for confirmation. Further, NG has formed a firm inverse H&S pattern with the neckline around $2.75. Breaking the neckline in the coming days/ weeks can lead to massive price appreciation; this can be measured by taking the distance from the head to the neckline which is around 20%. If the breakout to happen, 20% price appreciation from the neckline means $3.43 which is the high from Oct 2020.
For now, I recommend accumulating buy positions with stop loss below $2.3. The targets are identified in the chart for ease of reference.
Please share your thoughts and ensure proper money management strategies. Thanks for the support!
For now, I recommend accumulating buy positions with stop loss below $2.3. The targets are identified in the chart for ease of reference.
Please share your thoughts and ensure proper money management strategies. Thanks for the support!
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.