August 2, 2012
- in Uncategorized by schooloftrade
Natural-Gas Trading Checklist
Heat
Map: What is it telling us?
Map: What is it telling us?
Heat Map
says bearish, so does the news at 1030am EST.
says bearish, so does the news at 1030am EST.
OHLC
Analysis:
Analysis:
3 out of 4
lower-lows so we are bearish
lower-lows so we are bearish
Overnight
Highs & Lows:
Highs & Lows:
We have
broken overnight lows, Wednesday’s lows, and all the way down to Monday’s LOD.
broken overnight lows, Wednesday’s lows, and all the way down to Monday’s LOD.
Are we
inside or outside day today?
inside or outside day today?
We are
outside trading day, below the PLOD.
outside trading day, below the PLOD.
What
price-structures do we see?
price-structures do we see?
· Trigger-zone is below us as support
· AB=CD Pattern is bearish using the
bull price channel.
bull price channel.
· Price wedge is there, use the 55range
chart to draw trend line off the recent highs.
chart to draw trend line off the recent highs.
· Price channel is bullish, and we have
three of them.
three of them.
· Zigzag is not on this chart, although
we will keep looking for it.
we will keep looking for it.
· Sideways / Trading Ranges not on this
chart!
chart!
· Double-top / Double-bottom was there,
but was broken.
but was broken.
Where
will a reversal be likely today?
will a reversal be likely today?
At the price
channel highs or lows. We sold off at
the highs, the high-percentage trades will be buying at the lows of the bull price
channel.
channel highs or lows. We sold off at
the highs, the high-percentage trades will be buying at the lows of the bull price
channel.
What is
our trading plan for today?
our trading plan for today?
We got 3
clues to get short at the open after 900am EST.
the news was also bearish which added more fuel to the sell-side. We can see the bull price channel so that is an
easy final target, and now we look for the buying opportunities at these lows
of the price channel.
clues to get short at the open after 900am EST.
the news was also bearish which added more fuel to the sell-side. We can see the bull price channel so that is an
easy final target, and now we look for the buying opportunities at these lows
of the price channel.
