AbhishekHSinghCMT
Long

NG (QG1!)- Changed my count to a-b-c wave with upside objective

NYMEX_MINI:QG1!   E-MINI NATURAL GAS FUTURES
113 0 5
2 months ago
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.

QG1!- Looking for retracement zone 2.785-2.800 as Buying Zone
2 months ago
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- 2.910
2 months ago
Trade closed manually: Sorry no more updates
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
+919833996865 | LinkedIn
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