FX.co ★ Natural Gas (NG)

Hello traders of this forum! Let's take a look at the chart #NG on the TF = H1. I find the Parabolic indicator more suitable for determining trend reversals. The current reading is 3.346. However, the previous candle closed at 3.430. The closing price of the previous candle is above the Parabolic indicator, indicating a potential buying opportunity. Oh, I almost forgot about another indicator in my arsenal. Of course, it's the Moving Average with a price of 3.421. Since the moving average price is below the closing price, I can consider entering long positions at the moment. And once again, my favorite Parabolic indicator helps me with setting my stop loss. Its dots act as a trailing stop, constantly increasing my profit.

The daily chart provides a clearer picture with more price swings, but correspondingly larger stop losses. Analyzing the prices on the daily timeframe: candle closing at 3.418, Parabolic indicator at 3.749, MA indicator at 3.502. The daily scale indicates a downward direction, hence selling is preferred.