A nice and clean channel on natural gas. Of course we need to await opening before we (can trade, duh) get confirmation. Breaking the channel would be bearish.
At the moment we are hoovering around the 1.75 level that has been a well-battled level over the last two months. You see a lot of noise around there.
Await confirmation by seeing gas finding support and trading up, and enter a long.
The channel-mid of around 1.9 seems a fair target for profit. With more risk, one can aim for channel resistance.
Decide your own enter and exit levels.
Trading is not about copying but about forming your own opinion.
At the moment we are hoovering around the 1.75 level that has been a well-battled level over the last two months. You see a lot of noise around there.
Await confirmation by seeing gas finding support and trading up, and enter a long.
The channel-mid of around 1.9 seems a fair target for profit. With more risk, one can aim for channel resistance.
Decide your own enter and exit levels.
Trading is not about copying but about forming your own opinion.
Note
Bearish! It seems gas broke the channel. Wait for retesting the supportline, and step into a short when confirmation is given that it weakens again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.