NGAS has been in a long term downtrend. With this bias to the short side, considering a
price reversal to test the nearest Supply Zone , confluent to the 200hr MAV and
Fibonacci 618 retracement.
Recently we have seen a Rally ( setting up a Fresh Demand Zone) , Base ( Bearish Flag) ,
Drop , and now we have a Base ( Bearish Flag).
The trade considers a short to target the Prior Swing Low , and break the Demand Zone.
Enter - 2.094 - 2.104
Stop - Above Swing High 2.15
Target - Prior Swing Low 1.9865
RR = 2.7
price reversal to test the nearest Supply Zone , confluent to the 200hr MAV and
Fibonacci 618 retracement.
Recently we have seen a Rally ( setting up a Fresh Demand Zone) , Base ( Bearish Flag) ,
Drop , and now we have a Base ( Bearish Flag).
The trade considers a short to target the Prior Swing Low , and break the Demand Zone.
Enter - 2.094 - 2.104
Stop - Above Swing High 2.15
Target - Prior Swing Low 1.9865
RR = 2.7
Note
Target reached, supply and demand confirmed.
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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.
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.