Nat Gas Setup

13 сент. 2023 г.

Looking for potential candlestick patterns near the rectangles which are potential support/resistance zones. Engulfing patterns are preferred, but any other can count as a signal.

The price needs to meet resistance near the first yellow rectangle above, and form a potential turnaround pattern and break the trend line. If the price starts following a downward path, after a correction, another entry signal could occur, somewhere near the second rectangle. If anything similar happens and the price reaches the blue rectangle, there could be a turnaround in that area of support. If not, the ellipse from above can be a zone of influence where bounces and rebounds can happen at that shape.

The icons are potential price predictions in time, and they must be hit or nearly missed for them to be successful predictions. They can be traded if the price forms a potential pivot point before their time stamp and relatively away from them, with a candlestick pattern (examples marked in the past price action) that can lead to the formation of a wave heading towards the first icon in sight.

14 сент. 2023 г.

Заметка

Bearish engulfing at the yellow rectangle and the price is back at the trend line which needs to be broken for any bearish sentiment to be confirmed.

15 сент. 2023 г.

Заметка

Trend line broken, retested, then a drop. Hopefully the bears will have this in control towards the finish line and no bullish momentum will upset the initial envisioned scenario.

19 сент. 2023 г.

Заметка

Candlestick shadow at the projected downward "trend line" for the potential retracement channel/move. Bulls seem to still have momentum on this one and the second setup of shorting at the second yellow zone is probably a dud. As of now Red star is more likely to happen than the blue rectangle. Bears almost touched the level of the Red Circle but the bulls got back in it and have stayed strong moving this up.

21 сент. 2023 г.

Заметка

Another trend line and another break. The second yellow rectangle was hit, even though it was from the opposite direction than the initial setup. Still some rectangles left in this project and there might be another hit or two to come.

22 сент. 2023 г.

Заметка

Second pivot pint at the red circle level. The 2 stars left in this project are still potential price predictions, but I am open to other pivot points or special events at other shapes as well.

26 сент. 2023 г.

Заметка

A test and a rebound from the second trend line. Confirmed pivot point. No big momentum on the bears, but the bulls seem to be out very short term. Still in sight: blue star or the green rectangle.

27 сент. 2023 г.

Заметка

Almost a hit on the red star. I know there was a marking in this area for a potential turnaround but the whole idea of the setup with different elements was to consider not just one potential scenario, but at least 3 main ones.

28 сент. 2023 г.

Заметка

Interesting price action at the bottom and top of the inclined ellipse. Blue Star still in sight, but the bulls might still have momentum.

29 сент. 2023 г.

Заметка

Some of the shapes in this picture looked like a joke at the beginning of the journey. but here we are, nearing a disaster, and we have the third bounce from the lower edge of the ellipse, just as mentioned/anticipated in the original idea. Good coincidences for proof of concept. Quote from the initial idea: "the ellipse from above can be a zone of influence where bounces and rebounds can happen at that shape."

3 окт. 2023 г.

Заметка

Price action that doesn't really help us trade, but still, some nice little support on the middle section of the ellipse. The price is very close to the blue star and this setup is almost complete. With a drop or a bounce up, the overall picture will still look in tune and harmony with the initial elements. Nice coincidences.

3 окт. 2023 г.

Заметка

Connecting the dots from the initial snapshot.

4 окт. 2023 г.

Заметка

End of the setup.