#NatGas Update #OOTT
The chart is non-tradable (though I did enter some cheeky shorts). Natgas is tracing out something really intricate, as is its typical behaviour.
I suspect (and this is only specualation at this point) that the market is undergoing a compex [[]w][[]x][[]y] correction as wave b where [[]x] is a flat with an expanding diagonal in wave (C).
Then there has to be either another flat or a triangle in wave [[]Y] to complete wave b and proceed to a simple impulse c.
That is extremely speculative at this moment, and hence not tradable from an ElliottWave perspective.
The key points are
- I believe the correction within the correction has not yet been completed.
- Once wave b is completed, there may be a nice quick short setup followed by medium-term long opportunity
This is not advise.
I suspect (and this is only specualation at this point) that the market is undergoing a compex [[]w][[]x][[]y] correction as wave b where [[]x] is a flat with an expanding diagonal in wave (C).
Then there has to be either another flat or a triangle in wave [[]Y] to complete wave b and proceed to a simple impulse c.
That is extremely speculative at this moment, and hence not tradable from an ElliottWave perspective.
The key points are
- I believe the correction within the correction has not yet been completed.
- Once wave b is completed, there may be a nice quick short setup followed by medium-term long opportunity
This is not advise.
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts
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