NG (QG1!)- Changed my count to a-b-c wave with upside objective
Updated
As per last update -I was correct picking the top@2. 930 approx (made a high@2.945)but just failed to watch the 4th wave which I was expecting in the zone 2.785-2.800 - Later I could not monitor as I was running down with a fever- well that's my personal issue.
Back to Analysis
As per the earlier analysis, it cannot be a 4th wave because it is out of proportion- as this 4th wave retraced 78.6% approx distance of 2-3 wave & made a low@2.665 -which is looking out of shape
So, I have changed my count to a-b-c wave where the b - wave made low@2. 665 & now it's looking bullish till the zone 3.085-3.095 where
Trading Strategy -- Look for a pull back 61.8%, which can give support to NG@2. 730-2.75 for a rally upside- largely it should travel in the 3.085-3.095 where the c - wave will be equal to a-wave.
Back to Analysis
As per the earlier analysis, it cannot be a 4th wave because it is out of proportion- as this 4th wave retraced 78.6% approx distance of 2-3 wave & made a low@2.665 -which is looking out of shape
So, I have changed my count to a-b-c wave where the b - wave made low@2. 665 & now it's looking bullish till the zone 3.085-3.095 where
Trading Strategy -- Look for a pull back 61.8%, which can give support to NG@2. 730-2.75 for a rally upside- largely it should travel in the 3.085-3.095 where the c - wave will be equal to a-wave.
Trade active
21:15 Hrs-IST-12th Sep2016- I thought I would add some position in Natural Gas but it's in a hurry going towards 1.3105- Current Rate- 2.910Trade closed manually
Sorry no more updates
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
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Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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