There is a Price Action Bearish set up found at the Resistance level in MCX Natural Gas in the daily price chart of Natural Gas. Today on 27 th November There is a GAP DOWN probability of Natural Gas according to price action on 27 th November. I am in a short Position in Natural Gas at the closing bell of commodity market i e at 11.50 pm on 26 th November since there might be a Gap Down Probability. Today on 27 th if there is a gap down I will continue in short position for two or three days until I get another buy signal as per price action Strategy
Daily Price Chart of MCX Natural Gas is shown below
According to Daily Price chart of Natural Gas Strong Bearish set up is observed at resistance level.This might be a bearish trade set up for Positional trade. For intraday price action I will be in a short position only if will get the point 272.30. If 272.30 will break I will be in a intraday short position and if there is a large gap down I will not enter for intraday.
Update on 27 TH NOVEMBER – Summary of MCX Natural Gas Bearish Trade as on 27 TH November
As expected Natural gas was GAP DOWN and whole day it moved continuous in the downward direction. I was expecting downward move of Natural Gas because of the strong bearish price action signal seen yesterday on 26th November . Natural Gas moved exactly as expected.See the Daily Price Chart of Natural Gas as on 27 th November to see the downward move.
Daily Price Chart of Natural Gas on 27 th November
As you can see the expected downward move in the Daily Price Chart of MCX Natural Gas on 27 th November as shown above. I booked profit of 9 points today.I will carry forward my sell position for tomorrow until I get another price action reversal signal. Today I enjoyed trading with Natural Gas .
Update of My Natural Gas carry forward trade as on 4 th of December.
Daily Price Chart of Natural Gas on 4 th December is shown below
Woe what a downward move in Natural gas . I was in a short Position in Mcx Natural Gas since from 272.20 . I booked my profit of 9 points and remaining I carry forward my position untill I get another Buy signal. Today on 4 th December I square off my short position in Natural Gas by booking a Profit 35 points.You can see in the above Daily Price Chart of Natural Gas how it moved smooth in a downward direction.
I enjoyed trading with Natural Gas . Great trading experience with Natural Gas.
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