We are near to the end of the 1st daily cycle of this IC so this is not the time to be brave with shorts. It can reverse any time now.
The is decreasing. The indicators are starting to show some divergencies.
I used the FIBO retracement to see where could this decline end.
The 50% retacement of the previous rally was at 3.113. I was waiting for the break of 3.070 so that was too early.
The next level is the 61,8% FIBO retracement at 2.939. That price looks the most likely to print the DCL in the next 1-2 days. I still think tomorrow or Tuesday we will have "the low in".
I noticed an interesting thing. The 78,6% Fibo retrcement is at 2.692. It's almost the same level where the target price is what we counted from the triangle. (Height of the triangle -yellow)
If you start to go long in Natty before I post the long idea just be sure to have some dry powder at 2.692. The chance is low that we tag that level but it's not out of the table.
It looks the decline finished now as we printed a swing low.
Yesterday's volume was too low to go long that's why I wanted to wait the close.
I still have the 50% short position.
and get ready to add.
We are very very close.
So I'm closing my shorts as I got better opportunity than stopping out yesterday at the swing.
TSI gave in the signal - crossed over.
The RSI has left overbought so even if we have a lower low there will be a divergence...
Natty at the report.
That will be our entry.
When we break down 2.99 I will be buying.
1 day chart also show we can move deeper..
do you think we will reverse instead of going to much down?
This is the 1st daily cycle. No panic selling at the dcl.
Bulls are buying the dip.
we are 3.01 now ,2.99 buying!