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Place working orders from IG charts


JamesIG

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We have a great new feature which is available on desktop charts: you can now trade faster by choosing to place a working order directly from the charts, rather than needing to fill out the deal ticket, and take full advantage of our drag and drop stop/limit functions. This new feature should reduce the effort and number of steps required to place an order, remove the need to type, and also offer a clear visual preview of your order before placing. 

To place your working order straight from the charts...

  1. Hover your cursor on your desired level (taking advantage of the cross hair to find support and resistance).
  2. Right-click on the chart at the desired level.
  3. Select “Dealing” and confirm a Buy or Sell order (NB: to speed up the process the order size would auto fill with the last used size by default. In the video below, because no previous trades have been made on this account, a size is entered manually).
  4. You can drag up and down your Stop and limit levels (defined as absolute levels) and see your risk reward ratio.
  5. Click on the “Place Order” button to confirm.

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      Natural Gas



      Mode - Impulsive 



      Structure - Impulse Wave 



      Position - Wave (iii) of 5



      Direction - Wave (iii) of 5 still in play



       



      Details:  Price now in wave iii as it attempts to breach 1.65 wave i low. Wave (iii) is still expected to extend lower in an impulse.



       



      Natural Gas is currently breaching the previous April low, marking a decisive move as the impulse initiated on 5th March continues its downward trajectory, further extending the overarching impulse wave sequence that commenced back in August 2022. This decline is anticipated to persist as long as the price remains below the critical resistance level of 2.012.



       



      Zooming in on the daily chart, we observe the medium-term impulse wave originating from August 2022, which is persisting in its downward trend after completing its 4th wave - delineated as primary wave 4 in blue (circled) - at 3.666 in October 2023. Presently, the 5th wave, identified as primary blue wave 5, is underway, manifesting as an impulse at the intermediate degree in red. It is envisaged that the price will breach the February 2024 low of 1.533 as wave 5 of (3) seeks culmination before an anticipated rebound in wave (4). This confluence of price movements underscores the bearish sentiment prevailing over Natural Gas in the medium term.



       



      Analyzing the H4 chart, we initiated the impulse wave count for wave (3) from the level of 2.012, which marks the termination point of wave 4. Notably, price action formed a 1-2-1-2 structure, with confirmation established at 1.65 and invalidation set at 2.012. The confirmation of our anticipated direction materialized as price breached the 1.65 mark, signifying a resumption of bearish momentum. Presently, there appears to be minimal resistance hindering the bears, thereby reinstating their dominance in the market. It is projected that wave iii of (iii) of 5 will manifest around 1.43, indicative of the potential for the wave 5 low to extend to 1.3 or even lower. This comprehensive analysis underscores the prevailing bearish outlook for Natural Gas in the immediate future.



       







       







       




      Technical Analyst : Sanmi Adeagbo
       
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