I'm quite biased on NGAS by a bullish point of view.
So when I see some breakup on daily timeframe I jump on the train!
Normally, seeing at the 4H chart, trader should wait for pullback before entering long. But from experience, NGAS does not like to wait so if bullish trend there is, it's usually very sharp.
From a technical pov, the daily chart is near perfect :
- TDI broken
- PAC broken
- RSI>50
- Weekly chart is bullish
So when I see some breakup on daily timeframe I jump on the train!
Normally, seeing at the 4H chart, trader should wait for pullback before entering long. But from experience, NGAS does not like to wait so if bullish trend there is, it's usually very sharp.
From a technical pov, the daily chart is near perfect :
- TDI broken
- PAC broken
- RSI>50
- Weekly chart is bullish
Note
This is one hell of a trade. On all TF, my strategy is yelling "BULLISH".We have green TDI breaking red on all TF, above RSI 50 and above MA. Even if 4H can be considered as overbought, we know that market can extend these bullish momentum to crazy high.
Trade closed manually
Ok guys, we could keep this trade open for days but a strong correction is beginning so I advise to close this long right now, open a short and re-open long when this big pullback will be finished. Especially if you like carry trade, NGAS is best when shorting!
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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.