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Weekly forecast Natural Gas technical chart
Symbol NGAS

Download MT4 template file

Trade Setup
#NAT.GAS
Total Profit: 569 point
Closed trade(s): 345 point Profit
Open trade(s): 224 point Profit

Trade Setup:
We opened 9 BUY trade(s) @ 1.85 (day close price) based on 'Valley' at 2020.07.06.

Closed Profit:
TP1 @ 1.90 touched at 2020.07.07 with 5 point Profit.
TP2 @ 2.00 touched at 2020.08.03 with 15 point Profit.
TP3 @ 2.10 touched at 2020.08.03 with 25 point Profit.
TP4 @ 2.25 touched at 2020.08.04 with 40 point Profit.
TP5 @ 2.50 touched at 2020.08.17 with 65 point Profit.
TP6 @ 2.70 touched at 2020.08.27 with 85 point Profit.
TP7 @ 2.95 touched at 2020.09.24 with 110 point Profit.
5 + 15 + 25 + 40 + 65 + 85 + 110 = 345 point

Open Profit:
Profit for one trade is 2.97(current price) - 1.85(open price) = 112 point
2 trade(s) still open, therefore total profit for open trade(s) is 112 x 2 = 224 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 2.950 is broken, we will close open trades.
DateNovember 7, 2020 - 16:19
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 2.950 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 2.950 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 3.43 on 2020-10-30 and the peak at 2.8 on 2020-08-28, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • The RSI uptrend #1 is broken, so the probability of continuation of uptrend is decreased.
  • A peak is formed in daily chart at 3.430 on 10/30/2020, so more losses minimum to Major Support (2.950) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 44.

Take Profits:

  1. 1.900
  2. 2.000
  3. 2.100
  4. 2.250
  5. 2.500
  6. 2.700
  7. 2.950
  8. 3.650
Click on the level to view price action history.
Symbol Released Current Forecast
Natural Gas (NGAS) new Sat, 13 Apr 2024
Natural Gas (NGAS) Sat, 6 Apr 2024
Natural Gas (NGAS) Wed, 3 Apr 2024
Natural Gas (NGAS) Sat, 30 Mar 2024
Natural Gas (NGAS) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on NGAS.