Trading Natural Gas.

[ashu1234]

Hi,
Yesterday I couldn't upload ng chart with caption long legged doji in making after inventory with buy implications as it gapped down and bounced from important support level.

Later on daily it has given an engulfing candle and clearly indicating short term buying, so taking the low of this candle as base it gives good opportunity in coming days to buy on dips, on mcx with a bit of caution as there is some downside seen in INR, so price again this time may not reached the desired level. Hopefully we can see 208-210 levels again.:thumb:

 

[ashu1234]

ye chart banne k bad bade acche lagte hi

lol, yes i get your pun!
For trading it happens, price turns against you, I'll stick to the plan with low of Thursday's inventory, so lets see how picture emerges. Haven't taken any position yet btw as I am waiting for the dips to settle down. Will keep it posted when I trade

 

[ashu1234]

Another Eye-candy, Natural gas hourly.

3.125 an important base for future references. Current dip still qualifies for entry but will wait for Monday open due to currency risk.
CMP on mcx 195.50
192.60 Inventory day's low on mcx.

Trade with comex low in mind.:thumb:

 

[ashu1234]

Natural gas open 198+
USDINR down .75%, currently trading at 60.80(morning it was more down.
Comex 3.250, Gap up move.
Buy on dips (hopefully get some today, don't miss )

 

[ashu1234]

Natural gas Eye-candy!
Giving a big move above yesterdays swing level of 3.320.:thumb:

 

[ashu1234]

Natural Gas, bigger picture in Daily.

Yes most of you might choose to laugh at Inventory day's buy call in N.G(keeping that day's low as base) as its bearish and just touched that swing low at point C in above chart.
I prefer to trade that inventory day's low which was nearer to point C of XABCD(bearish crab) pattern. Historically patterns like these have high probability of reversing from point C, which in our case was Thursday's low. Rare instances are there where wave may extend beyond C and then A.
So another trade for the coming days.:thumb:

Those who don't understand can stay away with this trade setup and choose to laugh!

 

[ashu1234]

Since last inventory ng is trading strongly, will give breakout above 3.355 and might exceed the initial target given on last thursday of 208-210 also bcoz of USDINR support in the backdrop. Looking for upside of 3.500 and above. Worry only if 3.222 breaks and panic only below inventory day's low.
All the best.:thumb:

 

[ashu1234]

Since last inventory ng is trading strongly, will give breakout above 3.355 and might exceed the initial target given on last thursday of 208-210 also bcoz of USDINR support in the backdrop. Looking for upside of 3.500 and above. Worry only if 3.222 breaks and panic only below inventory day's low.
All the best.:thumb:

Natural Gas as promised exceed above initial target of 208-210, now currently trading above 212. Can book here but still its hold for 218+ targets.
Enjoy!!:clap:

 

[ashu1234]

Natural Gas as promised exceed above initial target of 208-210, now currently trading above 212. Can book here but still its hold for 218+ targets.
Enjoy!!:clap:

218+ target also done.:thumb:
Again I'll say extended target for 222, coz movement at comex is still pending.
I hope you enjoyed this treat

 

[ashu1234]

Natural Gas 221.70 high,
Comex target of 3.5 also completed approximately.
Call closed.
Book Profits!!:thumb: