mariodconti
Long

NATURAL GAS RESUMING THE UPTREND

FX:NGAS   Natural Gas (Henry Hub)
Hi Traders,

As predicted, Natural Gas             topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18.
Now, Natural Gas             should resume the uptrend to the area 5.10-5.13 and higher.

TARGETS

likely: 5.10-5.13
possibly: 5.37-5.38

ELLIOTT WAVES

This new uptrend is nothing more than "wave 3" of the recently started trend at 3.537.
Hi, what about the head and shoulders pattern on the 1hr chart?
Reply
mariodconti ExperienceTrading
2 years ago
That head and shoulder in the 1 hour chart cause the downtrend to 3.930 and it's now history.
From that point on a new uptrend started over.
In terms of Elliott Waves, the new uptrend is now staging wave 3 which is usually the longest one
Reply
Thanks a lot and I need to get myself equipped with the elliot waves theory, how did you learn it please?
Reply
mariodconti ExperienceTrading
2 years ago
I read several books and I went through them several times. After 25 years of daily trading and analysis, I now teach it. See http://www.fxtutors.com.au/p/bootcamps.html
Reply
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