After today's action I'm starting to wonder if this is the real model. Look for the telltale sign of the 4th wave HT which is the E wave throwover and then break down back into the channel for your bail out signal. Of course, a lower low than today's low is an immediate sell signal.
After this wave is complete it should be a 3rd wave of a larger wave that started down in late 2013 when NYMEX nat gas was $6.50. So if we get the bounce to the level of the prior 4th that would be around $14 which would be pretty darned good percentage gains into Feb for nat gas, 80% ish. And it will be much higher for UGAZ which is of course what I am playing here.
If you see the HT form, bail out on the top rail break down. In other words, set your alarms for top rail breakout and then when broken out set stops just under the top rail. That way you don't have to watch it. Let the computer do the work so you can focus elsewhere.
No comments:
Post a Comment