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Weekly forecast Natural Gas technical chart
Symbol NGAS
Trade Setup

#NGAS
Total Profit: 765 point
Closed trade(s): 421 point Profit
Open trade(s): 344 point Profit

Trade Setup:
We opened 10 BUY trades @ 1.911 based on 'Valley' entry method at 2024-04-01.

Closed Profit:
TP1 @ 2.026 touched at 2024-04-10 with 12 point Profit.
TP2 @ 2.228 touched at 2024-05-03 with 32 point Profit.
TP3 @ 2.500 touched at 2024-05-13 with 59 point Profit.
TP4 @ 2.735 touched at 2024-05-17 with 83 point Profit.
TP5 @ 3.000 touched at 2024-05-22 with 109 point Profit.
TP6 @ 3.173 touched at 2024-06-11 with 126 point Profit.
12 + 32 + 59 + 83 + 109 + 126 = 421 point

Open Profit:
Profit for one BUY trade is 2.772(current price) - 1.911(open price) = 86 point
4 trade(s) still open, therefore total profit for open trade(s) is 86 x 4 = 344 point

#NGAS
Total Profit: 729 point
Closed trade(s): 449 point Profit
Open trade(s): 280 point Profit

Trade Setup:
We opened 12 BUY trades @ 2.067 based on 'Valley' entry method at 2024-08-06.

Closed Profit:
TP1 @ 2.177 touched at 2024-08-07 with 11 point Profit.
TP2 @ 2.299 touched at 2024-08-12 with 23 point Profit.
TP3 @ 2.408 touched at 2024-09-04 with 34 point Profit.
TP4 @ 2.529 touched at 2024-09-12 with 46 point Profit.
TP5 @ 2.652 touched at 2024-09-17 with 58 point Profit.
TP6 @ 2.844 touched at 2024-09-23 with 77 point Profit.
TP7 @ 3.000 touched at 2024-09-27 with 93 point Profit.
TP8 @ 3.140 touched at 2024-10-03 with 107 point Profit.
11 + 23 + 34 + 46 + 58 + 77 + 93 + 107 = 449 point

Open Profit:
Profit for one BUY trade is 2.772(current price) - 2.067(open price) = 70 point
4 trade(s) still open, therefore total profit for open trade(s) is 70 x 4 = 280 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 2.529 is broken, we will close open trades.
DateNovember 1, 2024 - 18:50
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 2.529 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 2.529 is broken.

Technical analysis:

  • While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 3.195 on 10/04/2024, so more losses to support(s) 2.652 and minimum to Major Support (2.529) 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 46.

Take Profits:

  1. 2.176
  2. 2.299
  3. 2.408
  4. 2.529
  5. 2.652
  6. 2.844
  7. 3.000
  8. 3.140
  9. 3.440
  10. 3.705
  11. 10.514
Click on the level to view price action history.
Symbol Released Current Forecast
Natural Gas (NGAS) new free Sat, 30 Nov 2024
Natural Gas (NGAS) free Sat, 23 Nov 2024
Natural Gas (NGAS) free Sat, 16 Nov 2024
Natural Gas (NGAS) free Sat, 9 Nov 2024
Natural Gas (NGAS) free Fri, 1 Nov 2024
History
Daily-Trading-Opportunities on NGAS.