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Sunday, April 22, 2012

Natural Gas

I got stopped out of a long natural gas play last week, and it's easy to see why.  The fifth wave on the daily chart has now extended twice (4H chart).  Regardless, it seems very close to both a short term, and long term bottom.

If the count I have on the daily chart is accurate, then the furthest the fifth wave can go is 1.687 on /NG, as the third wave can never be the shortest in a five wave impulse.


Posted by Waverunner (FractalTrader) at 12:18 PM

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Notation


Wave DegreeMotiveCorrective
Grand Supercycle((I)) ((II)) ((III)) ((IV)) ((V))((a)) ((b)) ((c))
Supercycle(I) (II) (III) (IV) (V)(a) (b) (c)
CycleI II III IV Va b c
Primary((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))
Intermediate(1) (2) (3) (4) (5)(A) (B) (C)
Minor1 2 3 4 5A B C
Minute((i)) ((ii)) ((iii)) ((iv)) ((v))((a)) ((b)) ((c))
Minuette(i) (ii) (iii) (iv) (v)(a) (b) (c)
Subminuettei ii iii iv va b c
Micro((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))