Natural gas futures (NATGAS) technical analysis and trade idea (short)

• New updates: 1st take profit target at 8.87 was filled, for a third of the short position. Entry was at 9.328. That is a 5% move. The minimum tick size and value of natural gas futures is 0.001, worth $10.00 per contract. Trading 1 contract would yield 458 ticks on this part of the trade, resulting in $4580 profit per contract.
• Update for 06 Sept, the 2nd profit target for the natural gas short position ( 8.08 ) is near as we are now 12.8% into the move with a profit on two thirds of the position (the first third was taken out at a 5% profit)
• The price of Natural gas futures at the time of writing this update is:

New upate: The profit target of 8.08 was reached and another third of the position is exited. Stop loss is updated to the entry point of 9.328. The last 3rd of the position, mentioned in the video at the bottom of the page, as 6.934, will be slightly adjusted and raised to just above the 7 round number, since other buyers might come in just above 7, we want to fill our buy order to exit the short. Accordingly, the last take profit and pending buy order will be at 7.066 -- if reached, it would be a huge move of apx 24%, from the entry point of 9.328.

For those who missed the trade idea, here is the recent natural gas technical analysis from 30 Aug: NATURAL GAS short continues, bearish head and shoulders coming?

See the rest of the technical analysis on Natgas from 29 August, below:

• Natural gas is one of the most watched commodity in the financial world, these days.
• Some would claim that there is some news driven hype around this asset, and it may be time to look at technical hints, such as a failed breakout above resistance and the inability, so far, to capture the $10 round number
• The volume profile and the EMA20 on the daily timeframe, is guiding this short trade idea, whereby the reward vs risk, makes the trade legit, IMHO
• To mitigate risk, professional traders typically scale out of trades with a number of partial profit taking and exits. I show where to consider doing that according to the technical junctions shown in the below technical analysis video for natural gas futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term, applicable starting 29 August, 2022.

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