cjwaves

I remember November 2016

Short
NYMEX:NG1!   Natural Gas Futures
512 views
10
should head below August lows
Comment: close up view natgasusd
Comment: below support box idea will have to be modified to include a top already in place
Comment: so far so good
Comment: going to take a bit longer after all
Comment: odds are greatly increasing we break down here
Comment: if we see a clear 5 waves down before a new high, then focus will shift to adding shorts on a retrace (see green alternative count) - this move could extend lower before retracing
Comment: still expecting one more high
Comment: still on track, tricky with inventory report today
Comment: looking like a corrective drop so far, may be a good idea to hedge shorts or take profits
Comment: still looks corrective, shorts may be wise to cover soon, i may switch long on next low, upside may be limited, above 2.9 the idea needs to be re-worked with a bottom theme
Comment: its certainly bouncing hard from the area specified, will have to watch how the bounce takes shapes for further clues, shorts hopefully were closed were it was wise to do so
Comment: if anyone still short, i'd close here on todays dip, going to retrace much of the week higher

Comments

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