NATGAS BUY LONG
Chart Analysis:
Structure: The chart displays a descending trendline that has been acting as resistance for a considerable period. Recently, the price has broken above this trendline, which suggests a potential shift from a bearish to a bullish trend. Additionally, there is an ascending trendline forming the base of an emerging wedge pattern, indicating increased buying pressure as the price is squeezed higher.
Fibonacci Levels: The chart shows that the price recently retraced to a support area, likely near key Fibonacci retracement levels (0.5 or 0.618). This area seems to have provided a strong base for the price, which is now showing signs of moving higher.
Two Scenarios: The chart suggests two possible bullish scenarios, indicated by the green zones. The first target is around 2.550-2.750 USD, and the second, more ambitious target, is around 2.800 USD. These levels align with potential resistance points where the price might encounter selling pressure.
Trade Setup:
Entry Point: The chart suggests entering a long position around the current price level, after the breakout of the descending trendline, which signals the end of the bearish trend and the beginning of a bullish phase.
Target Price: The trade aims for two potential target areas. The first target is in the vicinity of 2.550-2.750 USD, where traders might consider taking partial profits. The second target is around 2.800 USD, which is a more extended move based on the projected continuation of the bullish trend.
Stop Loss: The stop loss is strategically placed just below 2.079 USD, in the red zone. This is slightly below the recent low and the ascending trendline, providing a buffer against a false breakout and minimizing potential losses if the trade does not go as planned.
Conclusion:
This chart for NATGAS suggests a bullish outlook following the breakout from a long-term descending trendline. The setup is reinforced by the formation of a wedge pattern and the supportive Fibonacci retracement levels. The proposed trade aims to capture the upward momentum with clearly defined targets and a well-placed stop loss to manage risk effectively.
Structure: The chart displays a descending trendline that has been acting as resistance for a considerable period. Recently, the price has broken above this trendline, which suggests a potential shift from a bearish to a bullish trend. Additionally, there is an ascending trendline forming the base of an emerging wedge pattern, indicating increased buying pressure as the price is squeezed higher.
Fibonacci Levels: The chart shows that the price recently retraced to a support area, likely near key Fibonacci retracement levels (0.5 or 0.618). This area seems to have provided a strong base for the price, which is now showing signs of moving higher.
Two Scenarios: The chart suggests two possible bullish scenarios, indicated by the green zones. The first target is around 2.550-2.750 USD, and the second, more ambitious target, is around 2.800 USD. These levels align with potential resistance points where the price might encounter selling pressure.
Trade Setup:
Entry Point: The chart suggests entering a long position around the current price level, after the breakout of the descending trendline, which signals the end of the bearish trend and the beginning of a bullish phase.
Target Price: The trade aims for two potential target areas. The first target is in the vicinity of 2.550-2.750 USD, where traders might consider taking partial profits. The second target is around 2.800 USD, which is a more extended move based on the projected continuation of the bullish trend.
Stop Loss: The stop loss is strategically placed just below 2.079 USD, in the red zone. This is slightly below the recent low and the ascending trendline, providing a buffer against a false breakout and minimizing potential losses if the trade does not go as planned.
Conclusion:
This chart for NATGAS suggests a bullish outlook following the breakout from a long-term descending trendline. The setup is reinforced by the formation of a wedge pattern and the supportive Fibonacci retracement levels. The proposed trade aims to capture the upward momentum with clearly defined targets and a well-placed stop loss to manage risk effectively.
Trade fermée manuellement
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.