Natural Gas maybe topped out for now
Diupdate
All of the major momentum indicators are in overbought zone, volatility is decreasing a breakdown could be coming very soon we can look for a short setup here with an SL of few points above the 2.95 levels, targets are on the chart.
Remember before selling that natural gas in an strong uptrend for coming months, winter is coming. If today's candle closes above the 2.87 level then the setup gets invalidated
Remember before selling that natural gas in an strong uptrend for coming months, winter is coming. If today's candle closes above the 2.87 level then the setup gets invalidated
Catatan
this is a very early signal as per market conditions, i would recommend putting a SL few pips above local swing high i.e 2.90Catatan
it has started moving in the direction, if you aren't a big risk taker than you can move your SL to entries or nearby 2.85Catatan
It's very near the first target, move your sl to entries and remember to take some partial profit at the first targetCatatan
It's near second target move your SL to TP1, so that you win in any condition also when it reaches TP2, keep trail your SL to some lower point and keep securing profitsCatatan
I'm closing 1/3 of my position here at 2.61, leaving the rest with a strict stop of 2.7Catatan
target 4 has been reached keep moving your sl
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