Looking at this weeks natural gas graph a trade idea stand out to me.
Provided that we are in a longer term down trend on the weekly natural gas tends to range on the daily chart.
Now that the stochastics has turned below the 80 line and MACD is also lower on the daily chart, we could try to ride it down to the bottom of the range at 2.43
We need to be careful at the 2.50 handle as it is the current inner channel boundary and a major psych level. So at that point look what the chart is telling and reconsider whether it is worthwhile to get the extra points.
The stop loss will be at 2.87 a few points above the current top of the range.
Provided that we are in a longer term down trend on the weekly natural gas tends to range on the daily chart.
Now that the stochastics has turned below the 80 line and MACD is also lower on the daily chart, we could try to ride it down to the bottom of the range at 2.43
We need to be careful at the 2.50 handle as it is the current inner channel boundary and a major psych level. So at that point look what the chart is telling and reconsider whether it is worthwhile to get the extra points.
The stop loss will be at 2.87 a few points above the current top of the range.
 |
| Nat gas - daily |
No comments:
Post a Comment