NATURALGAS - Wyckoff Distribution 🧐

NATURALGAS in a textbook Wyckoff distribution here.

Notice the inverted "adam & eve" structures first the blow off (omg) top.

Then the yonic domed top showing the weakening trend becoming corrective then failing to the downside.

This is also reflected in the RSI divergence.

Added the more exotic "creek" which is a limp corrective rally into LPSY that signals the end of the road for team bull.

Not quite back at SOW area and could perhaps bounce back to the long term 1.618 that I have left on the chart from previous NATURALGAS threads.

And its not 100% over, it could move away from the textbook and have a third bounce but in the end it is all over and heading much lower.

Not advice.

Trade aktif:

Gas has drifted correctively back up to the 1.618 that I identified a few threads ago as being a potential topping area.

So now finally I think this is it and I have entered a short right on the 1.618 @ $8.4

Komentar:

Oh yeh and plenty of bearish divergence on the weekly RSI.

Komentar:

Gas having a sudden pump, such as this chart likes to do. Think this will be a right shoulder and im just going to hold my position throughout.

Komentar:

H&S

Komentar:

Exactly as I suggested and now that is an extremely bearish upper wicked candle close on the weekly chart.