NATURALGAS - Getting Ready for the next impulse?

Oct 17

CMP: 3.4970
TF: 4 Hours

The script seems to have ended it's correction and ready to move up higher.

wave counts are marked herein for better understanding.

Break of 3.5320 will be the initial confirmation/validation.

This view becomes invalid if we start to trade below 3.3252


On Pitchfork, price is trying to get past the midpoint.. Our confirmation level too confluences around the same level.




On Daily timeframe, it looks like breakout and retest of the falling trendline from the highs.




Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.

Oct 22

Trade active

The move came in as expected... but the sharp rise took us all by surprise.. for now, 4.15-4.18 could be the ideal target..

Between 4.2 and 4.3 lies the previous supply zone levels.. and I am not sure if the price can take it out in this impulse itself... might need a breather first..



Here is the chart on daily TF with supply levels