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Sunday, March 16, 2014

NATGAS-Updated chart

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I,m showing an updated natural gas chart with what I believe the Harmonic Elliott wave count to be. A-B waves can intrude on the previous wave 1 price high's as where in classical Elliott wave (Frost & Prechter) they violate the wave structure. I've found through time that A/B waves can often retrace to the lower cycle count ,usually a  50% fib of the previous smaller waves. This completely confuses the Classical Elliottian's and after a price continuation they have to completely ignore their rules of structure. A/B and a/b waves are often characterized by sudden sharp drops without  what seems to be any alternation (a b c) . They also can take the Form of an "J" or inverted J. (what Bulkowski calls, scallops.) They will often have momentum oscillators that resemble Wave 3 oscillations. They can be great short term "shorting" opportunity or an buying opportunity when completed.


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