Jump to content

Accept as Solution


Caseynotes

Recommended Posts

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • I have been in this market since 2017. I learned this: do not buy any cryptocurrency that you do not know or have not researched. I think $TON is still cheap, with Telegram behind it, it has a very high chance of making x10 during the bull season. I cannot say the same for BNB because even now it is around $580. Even if it is $1000, everyone will regard it as excessively high.
    • Godlove University sounds solid, especially with its comprehensive coverage. If you’re looking for another course taught by an actual trader, you might want to check out the courses from Online Trading Academy. They offer in-depth programs that cover Risk and Money Management to Advanced Trading Strategies, all taught by experienced traders. Another great option is Forex School Online, which also has courses led by professional traders and covers a wide range of topics. Both are highly regarded and could be exactly what you’re looking for!
    • Natural Gas Elliott Technical Analysis Mode - Larger degree bullish correction Structure - Diagonal for cycle degree wave c of the supercycle degree wave (y) Position - Wave (A) on H4 Direction - Wave (4) on H4 is still in play Details: Daily and H4 adjusted as the last view was violated. We are now counting a diagonal end for wave c of (y) to complete the decline from 10.029. On H4, wave 3 of (A) of 5 (circled) of c of (y) is close to completion. The recent performance of natural gas signals a continued bearish trend. Natural gas has declined over 35% from its peak in June 2024 and is expected to drop further in the coming weeks. After a notable recovery from the February 2024 low, it has now retraced two-thirds of those gains, indicating a potential revisit to the lows of 2020. The broader trend shows a persistent downward movement since August 2022. Currently trading near $2, with a potential drop to $1.3 imminent, it’s crucial to identify where a significant upturn might occur, warranting caution for sellers.   Daily Chart Analysis On the daily chart, the decline from the $10 high in August 2022 is forming a corrective structure labeled as waves a-b-c of the cycle degree. Waves a and b concluded around 4.77 and 7.61, respectively. Since November 2022, wave c has been developing into an ending diagonal pattern. Within this diagonal, the 5th leg (wave 5, circled) is underway and is expected to continue lower in a three-wave structure, ultimately breaking below the low of the 3rd wave (wave 3, circled), which stands at 1.524. This ongoing decline suggests that prices could fall below 1.524 before the structure completes. At this juncture, sellers should exercise caution, as a significant trend reversal may occur, favoring the upside.   H4 Chart Analysis The H4 chart provides a closer view of the sub-waves within this 5th wave. Currently, the price is in wave 3 of (A). Once wave (A) concludes, an upward correction in wave (B) is expected before the price resumes its downward trajectory for the final leg, wave (C). Sellers should look for fresh selling opportunities at the end of wave (B), as this corrective bounce provides a strategic entry point for further downside movement.   Summary In summary, the Elliott Wave analysis of natural gas indicates a continuation of the current bearish trend, with the potential to reach as low as $1.3 in the near term.  The completion of the ending diagonal pattern will be critical, as it could signal the end of the corrective cycle and the start of a significant bullish correction or reversal. Short-term traders should watch for wave (B) as a potential selling opportunity, while longer-term traders should be prepared for a possible trend reversal once the ending diagonal completes. This analysis highlights the importance of tracking wave structures and key price levels to anticipate future movements in the natural gas market. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!  
×
×
  • Create New...
us