Nat Gas - Follow up - Correction before continuing higher ?
We can count 5 waves up now for potential wave 3.
Following soon will be a wave 4 consolidation followed by a continuation higher as wave 5.
Because wave 2 was a ZigZag, we can assume this wave 4 to be a Flat or a triangle making just a shallow retracement of wave 3.
So, I recommend taking at least partial profits.
Because waves 4 are so tricky it's not a good idea to try and short them, so, better keep your cash on the side for when better opportunities arise.
! If price starts to fall sharply and goes below 2.38, the count gets negated.
Previous post :
Following soon will be a wave 4 consolidation followed by a continuation higher as wave 5.
Because wave 2 was a ZigZag, we can assume this wave 4 to be a Flat or a triangle making just a shallow retracement of wave 3.
So, I recommend taking at least partial profits.
Because waves 4 are so tricky it's not a good idea to try and short them, so, better keep your cash on the side for when better opportunities arise.
! If price starts to fall sharply and goes below 2.38, the count gets negated.
Previous post :
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Now correctig for wave 4. Best to just stay out of this for now.
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