Natty may have bottomed

Updated

The decline was so violent that if you blinked you missed it, it happened so fast I couldnt even get short at X. But it appears that the entire decline may be over and we are ready to resume the bull market. This idea is wrong under 2.75 and right above 2.85 on the December contract

Note

if we are rejected at C then we can expect more downside, a strong rally above the channel and the bottom is in and we can expect more upside

Note

No impulse upwards move after all. Instead a correction and further downside ahead. I'm looking to close my small long on an anticipated bounce today and await further downside towards one of those Y targets.

Note

long closed

Trade closed: stop reached

cjwaves

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.