Elliott Wave View: High Frequency Box Suggested Natural Gas Sell Off
I want to share with you some Elliott Wave charts of Natural Gas Futures which we presented last month. You see the 4-hour updated chart presented to our clients on the 5/20/19. Natural Gas had a 4-hour right side tag against 2.910 peak suggesting more downside.
It ended the cycle from 02/27/19 peak in black wave ((v)) at 04/25/19 low (2.439). Above from there, we expected a bounce to occur. The bounce unfolded in an Elliott Wave double three correction. We advised members that Natural Gas should continue lower. Therefore, we expected sellers to appear in the sequences of 3, 7 or 11 swings. At the 100 – 1.618 Fibonacci extension of black (w)-(x) which came at around 2.701-2.817 area and that was the first area for selling the commodity.
Natural Gas 5.20.2019 4 Hour Chart Elliott Wave Analysis
Natural Gas
In the last Elliott Wave chart. You can see that it reached the blue box area. So traders could have opened a short position at the blue box. The Gas reacted perfectly lower. Any trades from our blue box area shown in the chart above were risk-free, which means the stop-loss should be moved to break even looking for lower levels. Please keep in mind that the 4-hour chart which I presented has changed. This blog should just illustrate how accurate our blue boxes are, and how our members trade our 3-7 or 11 swings strategy.
Natural Gas 6.02.2019 4 Hour Chart Elliott Wave Analysis
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Elliott Wave Forecast Team
ElliottWave-Forecast.com
