Hello everyone, I wanted to break down a trade I want to take in NG
Hoping I could get some feedback and see if I am on the right page
Weekly - I identified the curve.. we are sitting in a little bit of Weekly demand (tested) but I figured I'd still want to be a buyer rather than a seller
I like to enter on 4hr usually, but I noticed on the 1hr (bottom right) that it inherited the supply zone, broke the momentum line down AND it took out supply above as well..
I am confused because on the Daily timeframe it looks like we are sitting in or near supply..does that cancel out my long bias? or because we are sitting in HTF demand does it make sense? Would love to get some feedback on this.. I'm not sure if I should keep my order in the market. cheers!
EDIT: It did not work.. it blew through the zone as if it wasn't even there.. i am so confused right now
CHART BREAKDOWN BELOW
Hoping I could get some feedback and see if I am on the right page
Weekly - I identified the curve.. we are sitting in a little bit of Weekly demand (tested) but I figured I'd still want to be a buyer rather than a seller
I like to enter on 4hr usually, but I noticed on the 1hr (bottom right) that it inherited the supply zone, broke the momentum line down AND it took out supply above as well..
I am confused because on the Daily timeframe it looks like we are sitting in or near supply..does that cancel out my long bias? or because we are sitting in HTF demand does it make sense? Would love to get some feedback on this.. I'm not sure if I should keep my order in the market. cheers!
EDIT: It did not work.. it blew through the zone as if it wasn't even there.. i am so confused right now
CHART BREAKDOWN BELOW
1