short term bearish; long term bullish, ewt
holding a bearish bias short term because,
1) retracement from the entire 5-wave cycle is shallow
2) 15m/30m time frame bounce off recent lows has w3 as shortest wave
3) B or (X) failed at the .618 retracement from the top
4) 50% retracement from the entire 5-wave cycle sets up C to be exactly 100% extension of A
5) i'd love to buy some natgas lower :)
from there, expecting a new bullish cycle to form in either larger degree ABC or 1-2-3-4-5 fashion
1) retracement from the entire 5-wave cycle is shallow
2) 15m/30m time frame bounce off recent lows has w3 as shortest wave
3) B or (X) failed at the .618 retracement from the top
4) 50% retracement from the entire 5-wave cycle sets up C to be exactly 100% extension of A
5) i'd love to buy some natgas lower :)
from there, expecting a new bullish cycle to form in either larger degree ABC or 1-2-3-4-5 fashion