Naturalgas - 5 wave impulse done?

26 thg 11, 2024

CMP: 3.4100
TF: 4 hour

Looks like a 5 wave impulse from the lows at 1.9150 has come to an end.

The final leg (5th), seem to be incomplete though (if you consider marking 1-5); but that mostly looks like an abcde with e giving a throw over move spike.

Risk reward for longs is not good.

Also, Bullish BAT/CRAB formation seen on hourly TF. It is still at initial stages though. Invalidation level would be 3.6310



I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.

28 thg 11, 2024

Giao dịch đang hoạt động

Price is now taking support at/bouncing from the rising trendline as well as the support zone..

Alt view is one more high towards $4 to complete the 5th

4 thg 12, 2024

Đóng lệnh: đạt mục tiêu

Closing the view here.. No more shorts as the price hit the desired target..



This doesnt mean that we can go long here.. We still dont know whether this is a 3 wave down or 5 wave down move.. so it is a wait and watch game..

On 4 hr chart, looks like a clean 5 wave impulse is done and the price is correcting.. Since this is the impulse from the lows, it could retrace very well up to 0.5-0.618% levels too.. So dont jump for longs yet.