short term bearish; long term bullish, ewt
holding a bearish bias short term because,
1) retracement from the entire 5-wave cycle is shallow
2) 15m/30m time frame bounce off recent lows has w3 as shortest wave
3) B or (X) failed at the .618 retracement from the top
4) 50% retracement from the entire 5-wave cycle sets up C to be exactly 100% extension of A
5) i'd love to buy some natgas lower :)
from there, expecting a new bullish cycle to form in either larger degree ABC or 1-2-3-4-5 fashion
1) retracement from the entire 5-wave cycle is shallow
2) 15m/30m time frame bounce off recent lows has w3 as shortest wave
3) B or (X) failed at the .618 retracement from the top
4) 50% retracement from the entire 5-wave cycle sets up C to be exactly 100% extension of A
5) i'd love to buy some natgas lower :)
from there, expecting a new bullish cycle to form in either larger degree ABC or 1-2-3-4-5 fashion
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.