Haven't posted a natty count in a while. While the bearish
count target for wave (v) of 5 is unchanged, wave (iv) did come significantly higher than I anticipated. Credit to the experts at http://www.ElliottWaveTrader.net
for giving me the idea to consider the bullish
alternative shown in green. The structure of green wave i of ( iii
) through April
isn't quite to my liking, but its worth consideration.
I've been excited about potential for natty to complete its long term correction - and have warned in previous ideas about shorts overstaying your welcome - so I'm prepared to start looking at long entries IF support holds and impulsive waves form off intermediate lows.
I'm currently short UNG
7 puts expiring in July, small position.