Trade Plan for Natural Gas vs US Dollar (NG)

Natural Gas vs US Dollar

#NG

    The trend is upward. Natural gas is trading within the range between the 365 EMA and 135 EMA on the H1 timeframe. The descending wave structure is truncated. The Stochastic Oscillator signals oversold conditions. An entry point is forming based on the “pullback in wave B + truncated wave C” setup.

Trading Idea:

Buy upon the formation of an ascending wave structure, where wave (A) breaks through the trend channel of the truncated descending structure.

Stop Loss placed below the local low of the truncated descending structure.

Target levels: 4.600 (specialist’s trap) and 4.696 (138.2% Fibonacci level from wave A).