Ya just gotta love this stuff... I don't know that it can get any more text book than this. Classic TA meets Elliott for a potential big swing for the fence. You don't see a prettier hear and shoulders than we have on the daily. Take it down to the hourly and you have a very nice impulse wave unfolding. If the trend is string enough the turn at the 38.2 has excellent probabilities. We can get short here with a tight stop. You've got a short term target on the hourly of 2.82 and a long term target on the daily of 2.50. Same stop for both. Gas can be volatile (sorry, that's a bad pun) tight stops. This is one to watch. Until and unless that wave-1 low is breached this count holds much potential... get some.
Bình luận
ktbaldwin21
⋅
What do you think of your chart on the right how it broke, or gapped up over the descending trendline channel. Do you see that channel providing support and reducing the likely hood of the lower low being met on the daily? If you shorted that 3.100 area, you should have had nice profits did you take some off or are you still holding at this point? I trade NG as well and pretty much nailed it's bottom last week and nailed it's top this week trading small but looking to increase size as I continue to strike gold in it.
tradedevil
⋅
@ktbaldwin21, Hi there; Yes, that was a good trade. I trail a stop and move it along with the market so, I did have a very nice profit. I was stopped at: 2.940. I am currently not in this market but the chart pattern on the daily remains in tact so, there may well be more shorting opportunities. Glad to read of your success in this market. It's a tricky one...