No changes in my count and bearish expectations… I want you to come back to the post from last week. I did not to change anything in my count. Natural Gas has been perfectly following the bearish count. Now it is approaching my green box and it is time to zoom-in to 15 min and ask ourselves a question what Natty should do to make me to open my wallet and buy UGAZ?
To call a low the bottom we need two conditions met:
( 1 ) fully completed structure:
1.1. The final a-b-c of wave v down
1.2. The very final c should be structured as five micro waves down
1.3. Inside those five down mentioned in 1.2 we should clearly see a strong drop in micro wave iii preferably structured as a-b-c and we should see a clear distinctive pullback in wave iv up. And, finally the very final push to a new lower low in a micro wave v. That would be a completion of that final c down.

( 2 ). We want that final low to hit a cluster of specific projections.
2.1 Projection of wave 1 drawn from the top of corrective wave 2 up (223.6%, 250%, 285.4% or 323.6% or 350%).
2.2 Projection of the total distance covered by waves i + iii drawn from the top of wave iv up (50%, 76.4%, 85.4%).
2.3. Projection of wave a of v drawn from the top of corrective wave b of v ( 76.4%, 123.6%, 176.4%, 223.6%).

This current drop is clearly a micro wave iii down (blue labels). We need a clean pullback in a corrective wave iv up and only then the final micro push down in wave v down. Just to remind you this is how a fully completed Five Wave Down fractal looks like.