XNGUSD POSSIBLE LONG OPPORTUNITY

昨天

Us natural gas has been falling since June 20th and stopped a decline nearby the 3.3900 level with minor false breakouts of it. Currently we observe the reversal bullish wedge pattern, which is supported by a divergency on rsi on 4-h timeframe. Yesterday natural gas trading session opened with a gap downside, however, later, closer to the American session we observed buying volumes and the asset managed to hold above the 3.3900, which makes it interesting to go long.

If the price breaks above the MA50 at 3.4824, would be nice to set a

🔼buy stop order at 3.5144 with a
💰take profit at 3.8000 and a
❌stop loss at 3.2494, below the trendline.
The risk-reward ratio is 1:1.08.

11 小時前

交易進行

TRADING IDEA UPDATE - XNGUSD LONG 📈

U.S. Natural Gas declined from SMA50 at the beginning of the American Session, despite some bullish attempts. Although, the asset didn't manage to hold the 3.3900 support level, still, the it is in its long-term bullish trend and is currently sitting on a trendline. The divergence on RSI still persist. The wedge is still bullish and reversal.

Considering all of it I am openning long position from current price

🔼 a market buy order at 3.3438 with
❌a stop loss at 3.2076 and
🤑a take profit at 3.7854

risk-reward ratio is 1:3.24, which is nice. Stop order just below the major trendline, take profit is at the major resistance level at 3.8000.

This could be a mid-term trade, so I will keep you updated, for sure! Trade cautiously!