๐จ Alert! For NATGAS100 traders I Long
My analysis: short
๐ฏ 1. Take-Profit Target: $3.143
๐ฏ 2. Take-Profit Target: $3.276
๐ I've observed a strong level of market support with robust price rejections and extended wicks around $2.845, forming a Solid Support Line (SSL) on the 4H timeframe. ๐๐
Furthermore, there's a conspicuous fair value gap on the weekly timeframe, though I have reservations about the price's ability to generate the necessary momentum to bridge it. If we manage to breach the barriers presented by the daily and 4H timeframes to the upside, that's when I would designate this as our new bullish target. Subsequently, we might anticipate a period of consolidation, contingent upon the prevailing market conditions at that juncture. ๐๐๐
https://www.tradingview.com/chart/8ZI9kvIA/?symbol=PEPPERSTONE%3ANATGAS
My strategy hinges on waiting for price action to breach the RSI trend line and undergo consolidation on both the 1H and 30M timeframes before considering a long position entry. If the price fails to exhibit strength in this vicinity, I shall refrain from executing my trade. My steadfast commitment remains to my established setup and risk management parameters. ๐ช๐๐๐ฐ
Feel free to review my other trading positions.
๐ฏ 1. Take-Profit Target: $3.143
๐ฏ 2. Take-Profit Target: $3.276
๐ I've observed a strong level of market support with robust price rejections and extended wicks around $2.845, forming a Solid Support Line (SSL) on the 4H timeframe. ๐๐
Furthermore, there's a conspicuous fair value gap on the weekly timeframe, though I have reservations about the price's ability to generate the necessary momentum to bridge it. If we manage to breach the barriers presented by the daily and 4H timeframes to the upside, that's when I would designate this as our new bullish target. Subsequently, we might anticipate a period of consolidation, contingent upon the prevailing market conditions at that juncture. ๐๐๐
https://www.tradingview.com/chart/8ZI9kvIA/?symbol=PEPPERSTONE%3ANATGAS
My strategy hinges on waiting for price action to breach the RSI trend line and undergo consolidation on both the 1H and 30M timeframes before considering a long position entry. If the price fails to exhibit strength in this vicinity, I shall refrain from executing my trade. My steadfast commitment remains to my established setup and risk management parameters. ๐ช๐๐๐ฐ
Feel free to review my other trading positions.
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