Today we took out Friday's daily high. It's not a daily daily swing yet, but we should be close to a bottom.
If the daily cycle low is in the decline was not so severe as the previous scary DCL...
The SlowStoch crossed over in the oversold territory, also the is just leaving oversold...
They might push it down one more time that's why I'm waiting for the close.
This 3rd daily cycle could be interesting. It can be a weak, a neutral or a powerful cycle. All depends on how strong the first few days will be. If we break above 3.375 in 5-10 days after the lows we will test back or break above the first daily cycle's high.(3.839)
I set the 3 scenarios on the chart.
This could be the best weeks for UGAZ in the intermediate cycle. I will be trading 50% NastGas CFD and 50% UGAZ on my account.
Many traders are waiting for new lows soon.
But Natty is not that simple. It will show some at the end of the intermediate cycle : a new high in summer is something what fundamentalists don't expect ...
Yesterday we had a swing again and this swing was there at the close.
I missed yesterday's entry so entering the trade today as we have the pullback.
I'm convinced the low is in.
Starting from 8th of June the volumes is too low and it’s really strange. I consider “OANDA:NatGasUSD” to be something wrong. Is it out of date?
Look at HenryHub’s volumes after 8th of June. They are really good and correspond to the volumes before 8th of June without dramatic decrease.
Maybe we should switch to another Natty's ticker symbol?
Unfortunately, it was not a key reversal. C’est la vie.
Nevertheless, volumes are really strange (OANDA:NatGasUSD). They are too small.